Is security really important for small business?
Cyberattacks are a growing threat to companies of all sizes. Unfortunately, small and medium businesses are particularly vulnerable due to their limited resources or lack of vital security measures. Like most companies, small businesses have sensitive data that needs to be protected, but they may have a lower level of security than larger organizations; this makes them more vulnerable to cyberattacks, which can have serious consequences.
Fundamental reasons why cybersecurity is critical
There are many reasons why you should implement cybersecurity for your business:
Avoiding financial losses
Cyberattacks can cause substantial financial damage. Recovery of lost data and damage restoration might come at a considerable expense when responding to a cyberattack. Additionally, it's possible to lose customers due to a cyberattack, resulting in more revenue losses. And hackers know that in small business financial data is usually placed in one storage area typically not air-gapped, the security is often simplistic, and the backups are commonly problematic.
Protecting sensitive data
Companies sometimes have sensitive information and intellectual property needing to be secured. Cyberattacks can result in the theft or loss of this information, which can seriously affect the company and its clients. Typically, your client's PII (personal identifiable information) is stored somewhere in your sphere of responsibility. Typically, hackers go after credit card info, account info, or personal info (e.g. social security numbers). All of these types of information are highly regulated and have large fines associated.
Complying with regulations
Many industries have specific rules related to cybersecurity. All businesses should comply with all the legal regulations within their industry to avoid fines and other penalties.
Maintaining customer trust
Customers entrust businesses with their private information. A breach of that trust can have devastating consequences. For instance, if a company is the victim of a cyberattack and customer information is compromised, the company may lose clients and suffer reputational damage. And in California, private information is required by law, backed up by significant teeth (including customer notification and seven-figure fines).
How to protect your business
Managed IT services can help small businesses improve their cybersecurity posture by providing expert guidance and support in implementing and maintaining effective security measures. These services can include various activities, such as monitoring and maintaining security systems, training employees, and conducting security assessments to identify potential vulnerabilities.
My perspective
By partnering with an IT service provider, businesses can reduce the risk of cyberattacks, protect their business, and security can be built on a budget.
"Before anything else,
preparation is the key to success." -Alexander Graham Bell
By Denis Wilson
Thanks for reading this post. I always take into mind that your time and attention are precious. And these posts need to be timely, to the point, and short. For more tips on thriving with small business technology, check out the other blog posts at DWPIA Blogs. You can also find me on LinkedIn, YouTube, and Facebook.
I am also a published author and speaker on cloud computing, work-from-anywhere, and cybersecurity. I work extensively with business and professional associations to provide small business technology education programs.
Contact me if you have any questions about the subject.
I'd be happy to spend 15 minutes discussing it with you.
