All too often, SMB owners believe they are not targeted or that they don't face the same risks as big business. Understanding that the environment has shifted dramatically, and that the SMB has become the target of choice - intellectual property theft is critical, particularly since the majority of innovation in this country occurs in the SMB environment and big business has become a harder target to penetrate.
Solutions Snapshot Lynn Mattice, Chairman, Brett Kingstone, Bob Hayes, Ann M. Beauchesne, Executive Board of Advisors, President/CEO, Max King Managing Director, Security Vice President, National Security Executive Council; Realty; Author, The Real War Executive Council Security and Emergency Pre- former VP & CSO, Boston Against America paredness Department, U.S. Scientiﬁc Chamber of Commerce What threats should small and mid-sized businesses be considering in 2010 and beyond? Small and medium sized I think the threats to SMBs Big business in many sec- Businesses need to be ready business (SMB) owners need to are internal, external and gov- tors has downsized R&D budgets to handle unexpected threats — step back and take a real-world ernmental. in favor of venture capital pro- whether they are natural or man- assessment of the risks they face Internal: Make sure you grams that identify and purchase made. Over the past year, earth- in their business. properly review the background start-up companies with proven quakes, volcanoes and floods All too often, SMB own- of current and future employees products and businesses. These have devastated communities ers believe they are not tar- for criminal records and sub- “incubator businesses,” which and had dramatic global econom- geted or that they don’t face stance abuse. You can’t lock are often small and medium sized ic effects, such as disrupting air the same risks as big business. someone out if he has the key to businesses, are rapidly becom- travel. Businesses need to antici- Understanding that the environ- the front door. ing the source of innovation and pate the kinds of challenges that ment has shifted dramatically, External: SMBs need to real- technology development. Mother Nature or bad actors may and that the SMB has become the ize they are the targets of Chinese If these companies’ intellec- throw at them and be prepared. target of choice — intellectual competitors who would do any- tual property and financial well- Roughly a quarter of small property theft is critical, particu- thing to steal and counterfeit their being only impacted their own businesses that close following larly since the majority of innova- technology. company and employees, the a major disaster don’t reopen. tion in this country occurs in the Governmental: Mark Twain risk would be significantly mini- The failed Times Sq
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