14 Nov Your Board should be helping you look out for the future
Like most small business owners, unless you hit the lottery and started capitalizing your business all by yourself, you probably have some key shareholders who serve on your Board of Directors. You may also be finding that they are increasingly concerned about strategies to assess risk management. Most small businesses tend to overlook risk management issues—they usually just don’t have the time. Every minute is spent building businesses and making sales. Operations and sales consume 120 percent of a small business owner’s time. In this e-guide, we’ll do a quick run-through of some topics that you may wish to address with your board as you collaborate to protect your business from cybercrime, as well as other negative events.
Developing strategies to protect a business in the event of an untoward or bad incident is nothing new. It just isn’t common among small businesses. However, with the increase in cybercrime, as well as high profile weather events which can affect every aspect of even the smallest business, company boards are focusing on how to protect shareholder equity. In this, we will focus primarily on strategies your IT department and/or an MSP can implement to protect your digital assets. The point here, however, is not just that your IT and MSP should be making plans to protect your business. It is that your Board has a vital role to play in strategic planning and risk management. They should be supporting your initiatives and be fully informed of your plans.