Cybersecurity is an increasingly important issue for all businesses. Almost all businesses rely on technology in one way or another. Businesses use technology to store data, stay organized and keep track of finances among other things. With so much of the business being online and relying on the technology being secure companies must invest in protecting their devices. The challenge of investing in cybersecurity may seem daunting to a small business but it will save the business in the long run because security breaches could be catastrophic.
According to Tyler Chancey in How Much Does Cybersecuirty Cost? Businesses must spend between 0.2% and 0.9% of their revenue in cybersecurity measures. This may seem like a lot to spend, especially for a small business, but the cost of preventing a cyber attack is far less than the cost of fixing one. Companies can make sure there is a firewall on computers to try and keep information safe and make sure that if employees have access to work documents on personal devices that the firewall is enacted on those devices as well. Some things that don’t have to cost a lot that can help with cybersecurity are to educate employees on various ways data can be breached and let them know about potential dangers. Educating employees on proper password protocols and how to avoid phishing tactics can also be a cost effective way to try and limit the damage of a cyber attack. Taking the time to invest in teaching employees could be monumental to stopping a potential attack and saving all the time and resources it would take to fix the security breach.
Businesses will want to make sure they are taking the time to invest in a backup system that can properly backup files and potentially restore data. The cost of properly backing up systems is far less expensive than losing all the important information.
The upfront costs of investing in cybersecurity measures may seem daunting but the benefit of having secure systems and safeguards from an attack or potential breach far outweigh the costs.
Chancey, Tyler. (2021, Jul 5). How Much Does Cybersecurity Cost? Scarlett Cybersecurity. How Much Does Cybersecurity Cost? | Scarlett Cybersecurity Services
@ravi.blog. (2021, Feb. 5). 10 Step to Ensuring Cyber Security for a Small Business. Hackernoon. 10 Steps to Ensuring Cyber Security for a Small Business | HackerNoon
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