The Importance of Cybersecurity For Small Businesses

The Importance of Cybersecurity For Small Businesses

As the number of cyberattacks worldwide grows exponentially each year, cybersecurity has never been more important.

From large and small businesses to everyday families, hackers don’t discriminate. 

With a few keyboard strokes, hackers can access essential information that could drain the bank accounts of your customers and family members. The numerous consequences of a cyberattack highlight just how important cybersecurity is. 

Some business owners and families may think that cybersecurity isn’t necessary, however, if any of your information is stored on the cloud — then, cybersecurity measures are essential. While cybersecurity measures may appear costly, the repercussions of a cyberattack are even more damning. 

What is Cybersecurity? 

In an increasingly modern world where technology permeates every inch of society, the importance of cybersecurity has never been more profound. Cybersecurity can be best defined as the array of measures an individual or business takes to protect themselves against unauthorized access to their information systems. 

In this cloud generation, everyone and everything is connected. Information flows freely across various devices, services, and platforms. This means that online document sharing, access to emails on every device and easily accessible databases are only a click of a button away. While this brings with it ease of use, it also makes a hacker’s job fairly easy too. 

Cybersecurity Measures

While it may not be possible to prevent all cyberattacks, it is within a company’s corporate responsibility to take measured and responsible precautions. These precautions can include things like taking the time to train employees on what a cyberattack may look like. Employee training is particularly important seeing as the early detection of cyber threats goes a long way towards reducing the amount of damage. 

Prevention is also key when it comes to cybersecurity. This is done by keeping operating systems up to date, employing encryption software to protect information and using strong passwords that are updated regularly. 

What to Do During a Cyberattack? 

Getting caught up in a cyberattack can happen very quickly. This is because hackers can disguise a cyberattack through something as normal as a link in an email. With cybercrimes being held responsible for trillions of dollars in losses, businesses should know the correct methods to take should a cyberattack threaten their devices. 

If you’re lucky enough to recognize that your systems are being hacked, it’s important to disconnect the network connection if possible. After rebooting the network, clean and check the system to ensure that the cyber attackers aren’t still causing havoc. 

Once you’re sure that there are no unwanted visitors in your network, search through emails that seem suspect and other out of the ordinary occurrences. This will help you identify the origin of the cyberattack. 

The Repercussions of a Cyberattack 

In the event that your business has been attacked by hackers, you will need to let customers know. Even if you aren’t sure about the exact nature of the cyberattack, you will need to let your customers know whether or not their personal information was accessed. 

Although the monetary cost of a cyberattack is high (depending upon what sensitive information is accessed), nothing can compare to the effect that such an attack can have on a company’s brand

A cyberattack can shake a customer’s faith in brands and entire market segments, causing them to take their business elsewhere. In an age where privacy is paramount, the last thing customers want to hear about is a security breach. 

Conclusion

In an increasingly digital age, the repercussions of a cyberattack are far-reaching. Within seconds of hacking into a company’s network, email addresses, account numbers and phone numbers can be accessed. These kinds of breaches threaten personal and professional privacy. 

Cybersecurity is responsible for the loss of trillions of dollars and this number is only growing. Threatening both personal privacy and a company’s reputation, cybersecurity needs to be taken seriously. While it may seem intricate at first, in essence, cybersecurity is all about education and prevention in order to ensure that sensitive information is kept in the right hands. 

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  • Michael Viemester

    Well explained.

  • Steve Russell

    The Internet is fundamentally insecure.

  • Sam Hester

    Great article

  • Raymond Willard

    Very useful and relevant tips.

  • Vikas Nainani

    This is good. Thank you.

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Luke Fitzpatrick

Tech Expert

Luke Fitzpatrick has been published in Forbes, Yahoo! News and Influencive. He is also a guest lecturer at the University of Sydney, lecturing in Cross-Cultural Management and the Pre-MBA Program. You can connect with him on LinkedIn.

   

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