Why is Cybersecurity Important for Small Businesses?

For every step forward in the cybersecurity industry, a network of cybercriminals is adapting their strategies and tech to keep up. How can a small business protect itself, and what’s at stake if its systems are vulnerable?

 

Cybercriminals Target the Vulnerable

Hackers go after both small start-ups and massive businesses celebrating their hundredth anniversaries. They’re predators, searching for exploitable weaknesses. A company that doesn’t think it can afford to invest in cybersecurity may be as easy to hack as an individual on an unprotected computer, but with a lot more capital on the line. In a similar vein, companies that haven’t upgraded their systems in years undoubtedly have vulnerabilities a cybercriminal can exploit.

So why is cybersecurity important for small businesses? Because they need it more than most.

 

Phishing Scams Allow Hackers In

Some cybercriminals can only enter your system if they’re “invited.” And no matter how good a company’s cybersecurity system might be, any employee at any level can fall for a phishing scam if they’re not educated and on guard. Hackers can make near-identical versions of company pages to steal log-in info, send infected attachments from familiar email addresses, and more. But once employees understand the potential strategies criminals might use, your team becomes a human firewall—an asset to your security system rather than a liability.

As they say, a safe is only as secure as the key-holder.

 

New Threats Are Introduced Daily

Ransomware was first introduced in 1989, but it didn’t become a well-known method of digital extortion until the mid-2000s. Most of us have heard about the popup message that locks your computer and threatens to erase everything unless the owner pays a fee. This insidious strategy has graduated to the Cloud, truly deleting all the data you thought was backed up. Cybersecurity consulting for small business can keep your systems adaptive and updated to address not only current threats, but also tomorrow’s.

 

Considering What’s at Stake

Any sort of data breach can be financially devastating and labor intensive. According to the IBM-sponsored Cost of a Data Breach Study by Ponemon conducted in 2018, not only is the average cost of a data breach almost $4 million, but the costs climb higher every year. What’s more, that average cost can be significantly higher depending on the business’ location and industry. For example, a data breach of a U.S.-based education company costs an average of $6 million. But a technology company in the same region? $9.5 million. And either way, both are significantly higher than the worldwide average of $3.9 million.

 

What to Do Next

SOCBOX provides managed security services for business leaders in a variety of industries, demonstrating the most effective ways to seamlessly integrate security measures, personnel awareness training, and ongoing maintenance to protect networks without interrupting normal operations. The result is that ideal combination of peace of mind and the freedom to continue growing.

 

As a team that’s been brought in after a breach has already happened? Well, let’s just say that if peace of mind has its price, needing cybersecurity and not having it is a lot more expensive. Talk with our cybersecurity team today about protecting your business!