Congratulations! The money you invested in starting your small business has finally paid off, and you now have a business. However, you must keep investing in your business to ensure it’s protected and stays afloat. The following are investments to protect your business.
1. Security System
Installing a security system on your premises will help ensure the safety of employees, customers, and all critical business data. Security breaches in the business world have advanced as technology keeps evolving. Businesses risk theft and cyber crimes such as phishing, malware, and website spoofing, among many others.
Your business is a significant financial investment. It’s your responsibility to have an effective and efficient security system as one of the investments to protect your business. Examples of security systems to install on your premises include;
Alarm Systems: These systems don’t prevent the occurrence of a threat. However, they alert all the relevant people during a security breach and can also act as a way of scaring off intruders. By doing this, alarm systems reduce the risk of theft.
Access Control Systems: These automated systems restrict unauthorized persons from accessing an area. Unauthorized persons may be employees who are attempting to access restricted areas. The three main types of access control systems are policy-based, attribute-based, and role-based.
Fire Protection Systems: These systems detect fires and point out the source, reducing the risk of injury and damage to the building. The two main types of fire protection systems are passive fire protection for preventing a fire breakout and active fire protection systems, which helps to put out a fire.
2. Pavement Installation
Extreme weather elements such as heavy rains and strong winds are harsh on bare surfaces. For this reason, paving is second on the list of investments to protect your business. It helps to protect the surfaces surrounding your premises against soil erosion which can compromise the foundation of the business premises.
Contract a local company offering commercial paving services to help you with your paving needs. They should also be able to advise you on what paving material is ideal for your premise and suits your design of choice. Some of the materials you can choose from include:
Concrete: Concrete is among the most popular paving materials. It’s generally cost-effective and easy to install and customize to suit your desired design. It’s also available in different colors to allow room for creativity.
Blue stone: Bluestone is a blue-grey, big, flat stone ideal for driveways, walkways, and pool decks. It’s a relatively easy-to-maintain material and is easy to clean with water and soap. However, it’s a porous material that can easily stain and requires more frequent maintenance cleaning compared to other paving materials.
Limestone: According to Ellen Jenkins, limestone is a durable natural paving material that costs at least $40 per square foot. It’s an ideal material for businesses that wish to have a more toned-down and warm appeal. The material is available in three colors; white, grey-white, and off-white.
3. Installing Quality Floors
A floor affects the appearance of a space and contributes significantly to its comfort and functionality. For this reason, choosing a suitable flooring material is among the investments to protect your business. According to Hyden York, it’s important to consider maintenance, cleanliness, slipperiness, cost, and durability when choosing a flooring material. Examples of quality flooring materials include;
Ceramic tile floors: This is a cost-effective, easy-to-maintain flooring material. It’s also easy to customize since it’s available in different colors and designs. Unlike hardwood, tile is waterproof and a great choice for any room.
Hardwood floors: This type comes from hardwood varieties such as walnut, oak, cherry, or maple. Hardwood flooring can serve you for up to 30 years if you maintain it properly. However, wood is susceptible to moisture damage. Therefore, opt for a waterproof hardwood floor if you prefer the look of wood.
Laminate flooring: This is a great alternative for businesses on a tight budget. It’s easy to install and clean. However, you should install laminate floors with caution, especially in areas that are moisture prone since they aren’t waterproof.
4. HVAC Contractor
In line with ensuring comfort in the workplace, HVAC services are among the investments to protect your business. An HVAC system ensures comfort by regulating temperature and free airflow within a building. Employees feel motivated to work in spaces with proper ventilation and air conditioning.
Ensure you schedule maintenance services at least once every six months. The frequency will depend on the type of system you have. There are two main classifications of HVAC systems. These are;
Ducted HVAC system: This system is standard in commercial and residential buildings. It transports warm or cool air through ducts found inside the walls and ceiling of a building. Examples of ducted HVAC systems include; a split system, packaged heating and cooling system, hybrid split system, and zoned system.
Ductless HVAC systems: As the name suggests, this system doesn’t involve ducts. Instead, it consists of units mounted onto the inside part of the walls of a building and an outside compressor. Examples of such HVAC systems include a portable heat pump, hydraulic heating, a duct-free mini-split, and a portable spot cooler.
5. Plumbing Service
Professional plumbing contractors are one of the most crucial investments to protect your business. They ensure a constant and clean water supply throughout the building and proper disposal of wastewater. If your business is in an old building, you must schedule a plumbing maintenance service at least once yearly to mitigate potential issues. The benefits of working with a professional plumbing contractor include;
They’ll help you save water: You’ve probably left the tap running at least once in your lifetime. When you work with professionals, they’ll recommend installations such as motion sensor faucets to reduce this wastage. They’ll also perform timely repairs to ensure your system is working optimally.
Provides comfort: Evidently, comfort in the workplace is essential for employees and customers alike. Having a constant supply of clean water is vital to maintaining the functionality of your business premise. For example, it ensures the cleaning crew has enough water to keep the property clean.
6. Renovations
As a business owner, occasional commercial renovations are one of the most significant investments to protect your business. Renovations are costly, and you may talk yourself out of doing one due to the cost obligation. However, overlooking a renovation may cost you more than you want to save. Some ways in which your business stands to benefit from having a renovation include;
An increase in efficiency: The systems you installed five years ago when starting your business may not be as efficient today. The number of employees within your business may have doubled, and they now have to squeeze in to fit. In such an instance, a commercial renovation is the only way to restore efficiency.
Attracting new clients: A renovation will help to boost confidence in your existing clients that the business is doing well. It also offers a way to rebrand and attract new clients. This investment will give your business a competitive advantage.
7. Roof Maintenance
Commercial roofing systems serve the same function as residential roofing systems, to protect a building and everything else housed inside. However, the main noticeable difference between the two roofing systems is the material used and the size of the structure. Most commercial properties use concrete, built-up roofing systems, and modified bitumen as the roofing material.
Whether commercial or residential, scheduling roof maintenance and assessment as part of the investments to protect your business is essential. It will ensure you get the most out of your roof’s useful life. Other benefits of roof maintenance include:
Timely gutter repairs: Routine maintenance will help to catch potential gutter issues early on when they’re easy to address. Doing this will protect the business’s structural foundation and the general appearance of the building. A professional can also recommend when you need a new gutter install through regular maintenance checks.
Timely leak repairs: A small leak on your commercial roof can quickly escalate, resulting in extensive damage to your roof. In most cases, leaks occur when a roof starts to age. However, there are a few isolated cases when a leak may result from a poorly installed roof. It’s, therefore, important to hire qualified personnel for your commercial roof maintenance and repair needs.
8. Window Treatment
Commercial window treatments help to enhance privacy, control lighting, and improve aesthetics, and should be part of the investments to protect your business. Choosing the right window treatment will affect the functions of your business. For example, if your operations rely on working behind a computer, you may need a window treatment that reduces the amount of light entering your workspace. The main factors to consider when choosing a commercial window treatment include;
Function: The type of window treatment you install in each room depends on the room’s function. For example, you may install a window treatment that lets light in a breakroom. For a presentation room, a treatment that can be closed to reduce the light will be a better fit.
Privacy: As a business owner, privacy is important. You’ll often have to hold critical meetings in your office or make sensitive calls. In such cases, blacking-out window treatments will ensure the details of your meetings and conversations stay private.
9. Electrical Maintenance
You probably have several electronic systems and appliances to assist with the daily functions of your business. A faulty electric wire may damage your equipment, resulting in expensive repairs and a safety threat to the employees. Electrical maintenance is, therefore, a vital part of the list of investments to protect your business.
If you notice a light that keeps flickering or an electrical wire producing sparks on your premises, you must contact local electricians to help mitigate the problem. They’ll address any underlying issues. The different types of electrical maintenance services you can contract include:
Preventative maintenance: This service prevents electrical issues and accidents. Maintaining a regular schedule is the key to maximizing this service. It helps to ensure timely repairs.
Corrective maintenance: As per the name, corrective maintenance aims to fix an electronic fault. There are different reasons an electrician may recommend a correctional service. For example, if the damage has yet to total the equipment or if the repair cost is lower than the overall maintenance of the system.
Predictive maintenance: This maintenance service proactively stops an electronic issue before it starts. It involves evaluating how the equipment functions through periodic monitoring. When the technicians detect an issue, they’ll take the appropriate issues.
10. Business Insurance
Insuring your business will help to cushion you against financial consequences due to events that may happen during daily business activities. Such events may include work-related injuries, fires, or any other harm a customer may experience when interacting with your business. Insuring your business should therefore be on the list of investments to protect your business. There are other benefits to having business insurance:
Having business insurance also increases the credibility and reputation of a business, as it shows that the owner is responsible and committed to protecting their customers, employees, and assets. Certain types of business insurance, such as worker’s compensation, are required by law, and failure to have it can result in penalties or legal consequences. Your businesses may need certain types of insurance to meet contractual obligations with vendors, clients, or landlords. Having insurance will ensure you can take advantage of all business opportunities that come your way.
This investment can also help you attract and retain employees. When the insured risk occurs, you may need to hire the services of corporate attorneys who will help you file a claim with your insurance company. Your attorney will ensure you get the right compensation.
Setting up a business is no walk in the park, and keeping it afloat is even harder. As you think of ways to increase revenues, don’t forget about taking measures to protect your business. Use this read as your guide for investments to make.