The internet is the driving force of today’s businesses, from connecting with new clients to distributing goods and services, and a whole lot more. Unfortunately, the internet does have its share of risks, and small businesses are often the target. Contrary to what you might believe, 71% of all cyber-attacks happen to all companies with 100 or fewer employees.
There’s a two-fold problem going on:
many small firms don’t believe that they have anything valuable worth protecting, which is completely untrue. Even if you’re a solopreneur, you have vast amounts of valuable personal, professional, and customer data, and
in addition to this, SMEs tend to have lower security protocols compared to larger counterparts. They may not invest in essential software like firewalls, antivirus software, and VPNs.
We no longer live in an age where businesses can skirt blame for data breaches. Of course, hackers are criminals, but if you left the back door open, so to speak, then you will have to accept a serious reputational blow. Then there are direct costs to pay associated with a data breach. Companies are now held accountable for them.
Larger firms may have the resources to weather the storm, but small businesses cannot sustain this kind of blow. That’s why over 60% of businesses fold after a cyber-attack.
Small companies can prevent themselves from becoming a victim of cybercrime. Integrating cybersecurity into a business strategy can position itself for expansion and success.
Investing in cybersecurity, which is not difficult, prevents data breaches and the damage they can do.