Don't Be a Target: Why Cybersecurity Awareness Matters for Your Business
Protect your data, reputation, and bottom-line during Cybersecurity Awareness Month (October) and beyond.
Cybercrime is a growing threat for businesses of all sizes, especially small and medium-sized businesses (SMBs) that may lack the resources of larger corporations. October is Cybersecurity Awareness Month, a time to focus on protecting your valuable data and systems from cyberattacks.
Importance of Cybersecurity
Cybersecurity is important for small and medium-sized businesses (SMBs) because it protects their systems and data from online threats:
- Data loss
Cyberattacks can lead to data loss, which can result in financial losses, damage to reputation, and loss of consumer trust. - Compliance
Cybersecurity helps businesses comply with privacy and data protection regulations. - Customer trust
Investing in cybersecurity helps businesses strengthen customer trust, which is important for standing out in the market. - Protection from cybercriminals
Cybercriminals target businesses to weaken the supply chain, threaten national security, and steal proprietary information. SMBs are three times more likely to be targeted by cybercriminals than larger companies. - Protection from social engineering
Cybercriminals use social engineering tactics like phishing attacks to trick users into revealing sensitive information.
Cybercrime can pose a significant risk to small and medium-sized businesses (SMBs) in several ways, including (but not limited to):
- Data breaches
A data breach can cost a small business around $217,000 on average, which includes legal fees, fines, and remediation costs. - Ransomware attacks
In 2019, the average cost to recover from a ransomware attack was $84,000, which includes the ransom, hardware repair, lost revenue, and damage to the business. - Business disruption
A cyberattack can disrupt business operations, making it difficult or impossible for users to perform routine tasks. - Reputational damage
A cyberattack can lead to loss of customers, sales, and profits. - Stock price decline
A cyber incident can cause a company's stock price to sink, especially in the short term. - Supply chain impact
A cyberattack can have a ripple effect throughout the supply chain, causing a loss for the company's business ecosystem.
SMBs are often vulnerable to cyberattacks because they have similar information, customer data, and digital infrastructure as larger companies. They may also lack the means to protect their digital systems, such as professional IT solutions.
Robust cybersecurity practices can help a business protect itself from cyber threats, enhance customer trust, and ensure smooth operations.
Cybersecurity is important for businesses because it helps protect data assets, intellectual property, and customer trust.
- Get your FREE Cyber Score Report: Use our FREE Cyber Score system to give you an overview of cyberthreats that might be affecting your business.
- Schedule a Free Cybersecurity Consultation: Schedule a free consultation where we can assess your specific needs and vulnerabilities. We will also conduct a dark web scan. Our Cybersecurity Consultation includes our IT Checkup as well!
- Free eBooks: When you schedule your consultation, we will send you links to download our eBooks on "Cyber Security Essentials for Small Businesses" and "Break/Fix vs Managed Services" as valuable resources to get started.
- Free Resources: We have compiled a list of handy Cyber Security Awareness Month resources that you can use to help your staff be more aware. We will send our resource list along with your eBooks.
