Bad news: cybercriminals are more interested in hitting small businesses.
As a small business, you’ve heard about companies losing millions due to cybercrime. But compared to large corporations, small companies have negligible earnings that make cybercriminals whizz past them.
But according to statistics, small businesses are the victims of 58 percent of all cyberattacks. And these attacks cost an arm a leg for many small companies, and might even mean the demise of others as the cost of cyberattacks average $80,000 a year.
Especially with many businesses doing either e-commerce or a combination of e-commerce and brick-and-mortar, cybercriminals are having a field day cherry-picking unprotected small businesses.
Could your small business be at risk from a cyberattack sometime soon? Business people, beware! Cybercrime can occur anytime in many ways. Are you sure you’re safe?
IT Weaknesses You May be Overlooking
Securing your IT infrastructure doesn’t have to be overly complicated or overly expensive, but before you actually spend on any system to secure yourself, look at where you might be weak at first.
Governments are just as concerned for small businesses as business owners
themselves since small businesses make up a large part of the country’s economy.
This is why the government has been giving out compliance rules and regulations.
From GDPR to NCSC, the government has compiled a set of rules and regulations to give companies and their customers the basic security coverage they need.
Non-compliance can cost you government fines.
Sometimes threats don’t come from outside, but at times, they can come from your employees, whether or not they mean to or not. If you’re sure you don’t have a
disgruntled employee that has any malicious intent, then carelessness in opening links and e-mails and even stolen or lost devices could mean big problems for your company if you don’t hold them at bay. Uneducated employees and unsecured devices will result in multiple costs if the incidences occur over and over again.
Be Prepared, Be Secured
Even if you don’t feel like your company will be attacked anytime soon, it is best that you still secure yourself. Because that complacency is the reason why companies are attacked in the first place. How then can you ensure that you will be prepared and secured?
First, try to make sure that you comply with the basic requirements of the regulations where you operate in. Compliance with rules and regulations usually result in the protection of your company and your clients and will give your company a boost in terms of trust and loyalty of your clients.
Another important thing to do is to ensure that your employees are educated and well informed about the policies and practices of your company when it comes to cybersecurity. When they are primed and educated, your losses can be cut and the holes in your security can be plugged.
In all, keeping yourself secure keeps you from losing cash and losing clients at the same time.