Every business should have a defense plan that should be an adjunct to or aspect of its business plan. There are five key areas that should be covered in such a plan: refund, recovery, retention, privacy, and protection.

Businesses inadvertently overpay on expenses regularly. A refund plan provides for regular audits of taxes and other expenses to ensure that refunds of those overpayments are processed timely. Ten million pages of tax code might mean that you’re missing out on some valuable deductions, especially if you and your accountant are at loggerheads or, worse yet, each assume the other is asking the right questions to maximize those legal write-offs. The big corporations that bill you for your regular expenses have systems nearly as complicated as that used by the IRS, and it’s run by minimum-wage workers that really don’t care how much their mistakes may be costing you.

Additionally, savings recovery can be maximized through careful analysis, cost comparisons, and, if you’re savvy enough, group negotiations through a buying group.

Retention of employees is vital to keeping costs down. Affordable medical coverage often is best strategy for retaining key employees. If insurance is too expensive to provide, or you can’t give the full coverage that attracts the best workers, a discount medical plan might be an excellent alternative or supplement to your present benefits, or lack thereof. The costs of keeping an employee is usually less then the cost of finding and training a new one.

Privacy is important to protect, for business owners, employees, and clients. A successful business owner may be more of a target. Also, sensitive client information must be safeguarded to improve relations and preserve reputation, and employees must be trained on how to do so.

Protection of business and personal assets goes hand-in-hand with these other areas. Once we have your business running as efficiently as possible, the personal assets of officers or owners should be protected from identity theft and frivolous litigation.

Terence P Ward is a freelance writer specializing in business and web writing. His website at theplanwriter.googlepages.com theplanwriter.googlepages.com provides links to writing samples and information on hiring him to provide articles, blog posts, business plans, and copy of all types.

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