Reports say that out of five companies, at least one small business is affected by cybercrime every year. So, the time has come when every business, even the smaller ones, should think about cybersecurity seriously.
It is not only for your business but for your customers as well. When you are operating a business, it is obvious that there will be customers. Along with some crucial and confidential business data, the cloud will also have your customer’s data.
5 Reasons Small Businesses Need To Take Cybersecurity Seriously
In recent days, with the advancement of technology, the potential risks of data are also growing rapidly. Due to this reason, small businesses should take cybersecurity seriously. Here, I will discuss some reasons why you should invest in cybersecurity for your business.
Smaller Companies Are More At Risk
As per studies, 40% of overall cybercriminals attack the smaller companies that are operating with less than 500 employees. The rate is around 28% for bigger companies. Always keep in mind that you can be the next target of a cyber attack.
All these cyber-attacks are not always performed by those big groups with something to provide, like LuluSec or Anonymous. But a group or individual granted former business partners and employees could create risks for you as well.
Breaches Are Business Ending Incidents
The average cost of a cybersecurity incident or breach is around $190,000, as per some reports. Now, tell me can you afford that sort of money to lose? In addition to that, almost 50% of small businesses do not have any backup for their data. So, what is lost is lost for eternity.
That means your business also can be lost forever. So, just a cyber attack or breach can totally end your business within a minute. No business owner is capable of affording this huge loss. So, the time to know “what is x.509 certificate” has already come.
Attacks Can Damage Your Company’s Reputation
cYour site contains the payment details and personal data of your customers. Without proper cybersecurity, all that data is exposed to risks.
The news of a data breach at your organization can ruin your reputation totally. The customers will never want to expose their confidential data to any cybercrime activity. So, as a result, you will lose a huge part of your old customers as well.
You Might Be Putting Your Best Customers At Risk
When operating a business, many owners or managers totally forget to consider that it is not only about your data; it is more about the customers’ data. As I have mentioned in the above point, apart from your business data, you should worry about your valuable customer data.
Anyone who is working or dealing with the healthcare sector already understands this thing. But other business owners who are engaged in business-to-business activity with really larger business requirements should consider their needs as the pioneer of their own security plans.
Cyber Criminals Can Be At Your Place
Are you properly controlling the access of employees along with business partners? Can you be totally sure of this fact? Nowadays, as personal smartphones and tablets have become more commonly used business tools, this actually can be a bigger factor.
One of the biggest known cybersecurity threats is the improper management of client-side software. It allows people to see those pieces of information that those people should not be able to see. They also can allow rogue malware entering into your infrastructure.
Small Businesses Need Cybersecurity
Cybersecurity has become mandatory. Your customers are more concerned about securing their data and crucial information than their physical security. So, it will be best for you to consider cybersecurity for your small business without wasting any time.
Read more: A Guide to Banks Reputation Management