An alarming increase in cyberattacks & security breaches is matter of concern. Big companies are spending huge on cybersecurity in various ways – from relying on advanced encryption methods, to hiring ethical hackers and running bug bounty programs. What about security concerns of small businesses? In this post, we are sharing answers for top questions about small business cybersecurity.
- Why should smaller companies worry about cybersecurity?
“We are a small company with less than 50 people. Why would hackers want to attack us?”
That’s often a common myth that may owners, managers, and entrepreneurs, have about cybersecurity in general. However, this is a global business concern, and small businesses are probably more vulnerable. Like big brands and MNCs, they don’t spend as much on cybersecurity or other measures, and in case of a security breach, small businesses are usually busy with damage control than other things. Also, consequences of data theft, security breach, or similar incidents, can be more devastating for these companies, because they don’t have an adept system to reduce the impact.
- Should small businesses hire third-party cybersecurity experts?
This largely depends on where the company stands in general with regards to cybersecurity. If a small business has been proactive about cybersecurity from the start, they don’t need to hire experts on payroll at least. Again, for training employees, or to get an unbiased view of overall security levels, getting additional expertise may be necessary. If your company doesn’t have cybersecurity practices and policies in place, or needs help with aspects like BYOD regulations, WFH policies, getting experts on board may be a good idea.
- What are common cybersecurity concerns for small businesses?
Hackers and cybercriminals are using new tools, methods and ways to cause a security breach, and businesses need to be particularly advanced in assessing and rating various risks. Some of the common cybersecurity concerns include malware, phishing, social engineering, password hacking & theft, ransomware, trojan horses, and hacking into IP cameras and video surveillance systems. Every company needs to understand and find the possible issues and threats within the security perimeters, so that adequate steps can be taken in a proactive manner, to prevent a breach.
Small businesses have to think of cybersecurity beyond compliance. That’s the only way they can survive and beat the cybercriminals in their own game. Of course, it requires collaboration and cooperation at every level of the organization.