Every company has its security risks, but these are perhaps even more pronounced for cannabis businesses as a result of federal marijuana prohibition.
This pushes many marijuana businesses to operate on a cash-only basis, thus increasing the likelihood of robberies, while some cultivators have had their crops destroyed by illicit cannabis growers.
To help protect your cannabis business against these and other threats, here are five points to keep in mind.
1. Develop strong relations with law enforcement and the local community
The first line of defense for your business is your surrounding neighborhood. If you are on good terms with the people living close-by, they’re more likely to let you know if they see any suspicious activity.
Fostering good community relations in the form of hosting public events is also a smart business move as it gets the name of your marijuana business out there and normalizes its role in the community.
Much the same is true with local law enforcement. Police officers have a lot on their plate, so inevitably they have to prioritize what to focus on. But if they are on good terms with you and your business, they are likely to pay closer attention to any irregularities, offer advice, and respond more quickly to any threats.
2. Carry out regular risk assessments
This should be the first step you take to protect your cannabis business.
A thorough initial analysis should include a detailed assessment of potential threats in your surrounding environment but should also be geared towards establishing the regular and sustained operations necessary for your business to thrive.
To be effective, risk assessments must be an ongoing process as the situation and potential threats will continue to evolve over time.
3. Develop a plan with your IT department
Technology is vital to a secure business environment, and administering it effectively requires an IT team.
Security cameras, secure payments, and alarm systems all help to mitigate risks and rely on a well-functioning IT infrastructure.
Ensure you have a reliable IT team that understands the threats facing your business and work closely with them on tackling cybersecurity threats and other technical vulnerabilities that could cripple your operation.
4. Conduct background checks on your security team
On the one hand, you need to get a security team in place quickly. On the other, you need people and partners you can trust.
Don’t take a security applicant or potential partner at their word. You need to validate their experiences, qualities and competencies, which preferably lie in the marijuana space.
Doing this in detail makes it more likely you find a match according to the security needs that you should have identified through a risk assessment.
5. Clearly establish everyone’s roles and responsibilities
Communication is key to ensuring your security team works as a cohesive unit.
Management and leaders in the security team must communicate regularly to have an ongoing understanding of risks and exposures.
The first step towards establishing everyone’s roles and responsibilities comes through a detailed security plan, based on the risk assessment. This should outline potential security threats and responses at each node of your business’ operation, from product transportation, to cash handling, to site layout.
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