All companies are under attack and subject to a cyber attack at all times. 88% of organizations worldwide experienced spear phishing attempts in 2019 and these numbers are only rising. As the tech industry grows and evolves so does the need for cybersecurity strategies to develop into something that cannot be penetrated. Today, we are discussing the need to develop data security within your organization so that your information is always protected.
2020 wasn’t just a bad year for public health and safety. It was on record through 3 quarters the worst year ever as far as data breaches go. In the first half alone 36 billion records were exposed due to cyber attacks. This isn’t only alarming but should raise questions as to how business owners are being targeted for information breaches that are targeting your information. These attacks are typically motivated for financial gain as well as for information that could be of value. According to Verizon 45% of breaches used hacking, while 22% and 17% involved malware and phishing respectively. There are multiple ways that your company and network can be targeted so you and your employees must be aware of how an attack can happen and what you can do to prevent attacks from happening. For more on one way click here.
On average a serious cybersecurity breach costs a company $200,000. This can be deadly to a small business. Many cannot take a hit this big and it will put them out of business for good. If it doesn’t do that trust can be lost in your company or you could be forced to reduce your operation to a small fraction of how large it was before. None of these are what you want for your small business. This is frightening to imagine so not letting it happen to your business is essential to its survival. Taking preventative measures before something happens is always a good way to prevent this from happening to your small business. Click here for more on this. Losing your company may not happen every time, but having a security breach can have long lasting effects on your business.
Long lasting effects on your company is what can kill it if the initial breach does not. One major way this can happen is losing the trust of your clients/customers. Losing this is just as bad as closing your business. If clients don’t trust your company, then what can you do? Your reputation is always at stake and losing a good one is something that not all small businesses can come back from. Losing trust is something no business can afford. Leaving a bad reputation behind can lead to a slower downfall to your business, instead of being crushed by the initial cyber attack. This is something that can wear on your business for years and it can take years to come back from, if your business is capable.
Data Security is important to your business. Having your employees trained on how to prevent information breaches is one major way to help prevent one from happening. Another way is to trust in a third party I.T. company so that someone is constantly monitoring your security situation and can immediately take action if something goes wrong. A serious breach can be detrimental to a small business through financial loss, information leaks, and lost trust from your clients/customers. Nobody wants this to happen to them so taking necessary steps to secure your network is always the first step to making sure your business is safe.