The importance of Cyber Security
Why is cyber security so important for small businesses? In the post-pandemic landscape where the need for global connection has risen experientially, alongside massive technological advancements, there has been a huge rise in cybercrime attacks. Often when you hear about cybercrime attacks, it tends to be when a large company, which is believed too big to fail, has been affected. However, this does not mean small to mid-sized businesses are not also at risk.
Hackers will look for weak points they can target and exploit within every business. If you are neglecting your cyber security due to the small scale of your business, this could make you a prime target.
What do hackers have to gain?
There are several reasons hackers may choose to target small to mid-size businesses rather than large businesses. Firstly, it makes their job a lot easier if your business does not have adequate resources and support. Large, influential organizations often have dedicated teams to consistently ensure they are safe from cyber attacks, though this may not be an option for small businesses. Many start-ups are working with tight budgets and cannot afford to spend money on teams to specifically take care of their cyber security or the required updates and patches needed to ensure the software is secure. Managed IT solutions could aid you in this area by making security assessments and using next-gen solutions to bolster your security and aid your current IT team.
Threats to your security
Cybercriminals will look out for small businesses that are handling large amounts of customer information. Most businesses will need to store some type of customer data for marketing purposes. Stealing this data can be an easy way for cybercriminals to make a quick profit. This type of attack could be detrimental to a growing business as it leaves you looking untrustworthy.
Another type of threat to look out for, for technology-based businesses is malware attacks. Malware attacks can rear their ugly heads through downloads, other devices, or spam emails. If a virus can penetrate your systems, your business will be burdened with costly repairs.
Ransomware is one of the most prevalent cybersecurity attacks and affects many small businesses each year. A ransomware attack can become extremely costly. A hacker will lock off access to your data which you will have to pay to get back. How much? Unfortunately, the price is at the complete discretion of the hacker. Don’t give them control, and ensure your endpoint is secure.
A threat to your security that can be easy to combat today is a weak password. Weak passwords that are easy to guess pose a huge risk to businesses. To combat this, it’s crucial your employees understand the importance of a strong password that is updated frequently. Consider asking them to use a password generator. This will ensure passwords are random enough to be unguessable and protect your company’s data.
Security threats can be hard to spot and come at any time. It’s vital to take preventative measures. Don’t be afraid to invest in Cyber Security measures, as a breach could halt growth and significantly impact profits, as well as put off loyal and potential customers.
