Why Home Businesses Need a Records Management Plan

Running a home business has many advantages including lower overhead costs and the ability to work flexible hours. Yet, in addition to making sure that your kids aren’t knocking on your office door every five minutes, it’s important to maintain good record keeping practices. And even though you’re used to wearing multiple hats in both your business and family life, certain functions, such as records management, should be supported with a professional solution.

Every business owner has a responsibility to protect and preserve their business information. While the operational infrastructure of your home business may not be as complex as that of a traditional company, you still have to ensure:

  • disaster recovery
  • records tracking and retention
  • privacy protection
  • customer satisfaction

This can be especially challenging in a home office setting where the line between work and home can easily become blurred. Having the right records management processes in place helps you to meet these obligations and maximize your overall productivity.

What’s in your file cabinet?

Most likely, it contains a variety of records critical to your home business, including:

  • contracts and service requirements
  • financial documents
  • client files
  • proprietary information

Have you thought about what impact losing any of this information would have on your company?   Home businesses are especially vulnerable to a loss of business information since oversight and control is limited. A kitchen fire can easily spread to your office. A natural disaster could destroy your valuable business documents. A thief breaking into your house may skip the jewelry and go straight for your confidential business information. These scenarios and multiple others represent real risks to your business records. And, as is the case with any business, any circumstance that affects your business also has a direct impact on your wallet.

Protecting your business records

Any hardcopy or electronic information that requires regular access but needs to be kept for an extended period of time should be stored offsite. Professional records storage not only reduces the amount of clutter within your home office but also offers a secure repository where your critical business records can be protected and preserved from disaster and theft. The following items are prime candidates for offsite storage:

  • vital business records
  • archival and historical information
  • tax and financial documents

Because all items sent to a records center are bar-coded and tracked, your business information is easily located and retrieved to support your business processes. A records management solution enables the following:

  • better organization of your documents
  • proof of due diligence
  • reduced administrative time
  • privacy protection

A home business is an opportunity to create your own destiny. Don’t let the frustration of managing your records get in the way of your vision!

Archives Management Centers can help. We provide home businesses throughout Palm Beach, Martin, St. Lucie, Indian River and Okeechobee counties with records management solutions. To find out more, please contact us by phone or fill in the form on this page.

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