Why is Cyber Security important for your SMB?

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As technology continues to offer small and medium businesses (SMB) growing opportunities, so does the risk associated with it. As a society, we severely underestimate cybersecurity vulnerabilities that often lead to downtime, financial loss, and even business closure. Unfortunately, cybercrime and security breaches come in many forms, making it pertinent to have a structured and precise security policy.

Many SMBs often believe that they are too small or too insignificant to be of interest to cybercriminals when it’s the complete opposite. Because of their size, small business owners often lack the necessary resources – technology, staff training, specialist knowledge – making them easy targets.

The critical difference between a large company and SME is that cyber-attacks are far more likely to cause severe disruptions with devastating impacts on small businesses, often rendering them unable to recover.

Since the General Data Protection Regulation (GDPR) introduction, small businesses were given the same level of responsibility as large corporations regarding protecting sensitive data that they hold or process. With that said, the risk of non-compliance by an SME could potentially force its closure.

What Can You Do?

As SMBs face increasing pressure to prove their IT security credentials, a proactive approach towards cybersecurity needs to be at the top of their to-do list. Cybercriminals are continually advancing their attack methods, finding new and improved ways to capitalize on employee errors. This is important to recognize because most cyber-related incidents are caused not by a lack of basic IT measures but by a lack of employee security awareness.

By having a cybersecurity policy in place and implementing an ongoing training process, you’re aiding in the overall company awareness of good cyber hygiene. On top of a cybersecurity policy, small businesses need to have an incident response and management plan in place. While seeking to prevent these security incidents is critical, it’s essential to prepare for any cyber breach thrown your way.

Cybercrime recovery typically involves a multitude of steps, from identifying and containing the incident to fixing and recovering the damage done (if possible). With the ever-increasing threat of cyber attacks, now is the time to be proactive about protecting your business against cybercrime and ultimately preparing for the inevitable.

Thankfully, We’re Here to Help

Since the recovery cost often exceeds what a small business can withstand, it’s imperative to be well-equipped. Prevention of cyber attacks and dependable security maintenance should be all employers’ top priority. Thankfully, our team here at Parried has compiled an extensive cybersecurity checklist that will sequentially help your company survive potential future attacks.

If you’re concerned about your company’s safety and security and want to learn more about ways to prevent potential future cybersecurity attacks, head over to our resources page to access a free cyber security checklist for your business.