Avoid legal action with the right signage and 4 other ways you can reduce liability risk
Posted: 23rd September 2019 08:17You’ve worked hard to build your business from the ground up. You’ve probably used all your savings; potentially borrowed money and you’re enjoying the profits and the success that comes when you work hard and dedicate your time to something you’ve been working towards for years.
As a business owner you’re probably aware of the responsibilities that are in your charge. Esepically when it comes to running the business day to day and of course, risk. As a business owner it’s your sole responsibility to reduce the risk limitations of your business and not only protect the safety of your employees and clients but also the business itself.
Here you’ll find information on how you can avoid legal action with the right signage and 4 other ways you can reduce liability risk.
Signage is a simple yet effective way to protect others from harm and also your business. Installing clear and official signage means that employees can be warned of hazards, and members of the public are kept informed of any potential dangers. Whether you’re buying construction signs for your building company or to warn others of construction work in your office or you’re warning a member of the public about the “wet floor” they are approaching, having the right signage makes a safer environment for everyone and reduces the risk of a lawsuit, should an incident occur.
Keep good records – of everything!
From your accounts to company training, employee records to fees, payments and licences, if there’s paperwork involved, ensure that it is kept up to date and filed correctly. Keeping good records of everything doesn’t just help you with organisation but it makes it easier to ensure that everything is up to date. As any discrepancies in your documents or records could put you and your business at risk.
Look after your business image
In business, image is everything. So make sure you and your employees refrain from writing questionable posts about the business on social media, making defamatory comments online or in person and working with dubious individuals who could damage the business’s image. The last thing you want is to be linked to someone who has no business ethics and is in trouble with the law. Your business integrity is at stake!
Hire an attorney
You probably don’t need a lawyer right now, but most businesses have a carefully selected law representative on standby for if/when a situation arises. Make sure you hire someone who is experienced and qualified in business and the specific field of business you are having issues with.
It goes without saying, but you’ll be surprised how many fledgling businesses overlook the importance of liability insurance. If someone hurts themselves on your property then they could potentially file a personal injury claim. Simply put, having liability insurance helps you protect your business. So do plenty of research before you take out a policy, and speak to an insurance professional.