HOW SMALL BUSINESSES CAN NAVIGATE RISK IN A POST-PANDEMIC ENVIRONMENT

Santam remains committed to helping entrepreneurs successfully steer their businesses into the future. These tips will help you thrive in a dynamic risk landscape.

CYBERSECURITY

Recovering from the average small-business hack attack can cost a company anywhere between R50 000 and R250 000. Ensure you have the proper procedures in place to manage compliance with POPI regulations, keep your employees updated on how to avoid phishing scams, and constantly back up your data.

VEHICLES

Collisions and vehicles overturning outweigh all Santam’s commercial claims quite substantially. To mitigate this risk, it is important to take the following measures:

◗ Make sure your tyres are in the best possible condition. Regularly check the pressure, tread and condition of the side walls of all tyres.

◗ Ensure that lights are in good working condition and that they are switched on whenever the vehicle is driven, even during the day.

WEATHER THE STORM

Fire, water, wind and hail account for a significant number of claims from small businesses. If your business has premises, pay particular attention to maintenance issues.

PRIORITISE HUMAN CAPITAL

Your employees are your most valuable asset – if they are not taken care of, they can be among your biggest liabilities. Offer as much financial and emotional support as your company can afford to encourage your employees to continue delivering to a good standard.

Santam is an authorised financial services provider (FSP 3416), a licensed non-life insurer and controlling company for its group companies.