5 Disasters That Can Bring Down A Business

Sometimes all it takes is a single disaster to bring a company to its knees. In many cases, such disasters can be guarded against. Here are just 5 disasters to watch out for (as well as how you can protect your business against them).

You’ve been hacked

60% of businesses shut down after 6 months of a cyberattack. This is because cyberattacks can cause such lasting damage to almost every aspect of a business – they could result in important data being lost, customers being compensated and finally a lack of trust in one’s brand, which could make it impossible to generate new business. A cyberattack can be defended against by installing digital security software and keeping it regularly updated. It could also be worth outsourcing managed IT services to add an extra layer of security.

The power is out

Power cuts can also be hugely damaging for businesses. Given that most modern businesses are reliant on electricity, a power cut can often result in downtime, leaving a company unable to serve clients. Power cuts can be caused by things out of our control such as power station failures or damaged power lines. However, there are still ways to defend against them, including installing a backup generator. Solar energy can be a great source of backup power, which you can look more into at Flisom.

Your hardware/software has failed

Hardware and software failures can also stop a company from being able to do business – especially if it’s an important piece of machinery. Files may be able to be backed up and it may be possible to invest in spares of machines. However, simply maintaining your machines may be enough to prevent this failure in the first place. This could include keeping the air free of dust and shutting down computers regularly in order to allow software to update.

You’ve been sued

Lawsuits can be very costly and they can affect a company’s reputation. There are many measures that you can take to prevent your company from getting sued – these could include improving your company’s health and safety or security. Hiring a legal firm such as Tully Rinckey could also be valuable in helping you to legally protect your business. If all this fails, then you should at the very least have some insurance to help pay any compensation that a lawsuit demands.  

You’ve been bad mouthed online

Bad online reviews and even bad comments on social media can destroy a business. By tarnishing your company’s reputation, they may be enough to drive away customers. Whilst there’s little you can do to stop the spread of bad mouthing, you may be able to combat negative feedback by encouraging your happy clients to leave positive feedback. This may be enough to counterbalance the negativity, showing consumers that you also have the ability to impress and do a good job.