PBS Answers: Why Cybersecurity is Important for a Business
There is no question that cybersecurity is vital for businesses of all sizes. In fact, many experts believe that cybersecurity is one of the most critical issues facing businesses today. The reason for this is simple: cybercrime is on the rise, and it can have a devastating impact on businesses, especially small businesses.
According to the US National Cyber Security Alliance, 60% of small businesses that experience cyberattacks will go under within six months of the attack. This stat is alarming, and cybersecurity awareness should be a top priority of every business owner.
In this blog, we will discuss the top 5 reasons why cybersecurity is vital for businesses worldwide.
1. Cyber Threats are on the Rise
Cybercrime is on the rise, and it is becoming more and more common for businesses to be the target of cyberattacks. In fact, according to Fundera, cybercrimes cost small to medium-sized businesses over $2.2 million a year. This trend is only expected to continue, which means that businesses must prepare for the possibility of being attacked.
2. Potential Damages from Cyberattacks
The potential damages caused by cyber-attacks can be detrimental to a business. While the financial impact of a cyber-attack can be significant, there are other types of damages that an attack can cause. For example, a cyberattack could lead to the loss of customer data, which could damage the reputation of a business. In addition, cyberattacks can also cause physical damage to a business, such as if the attackers manage to gain access to the business’s computer systems and delete important files.
3. Growing Number of Regulations
In recent years, there have been several high-profile data breaches, which have led to increased scrutiny from regulators. As a result, a growing number of businesses are required to comply with various federal cybersecurity regulations, the three most important being HIPAA, Gramm-Leach-Bliley Act, and the Homeland Security Act. Failure to comply with these regulations can result in significant penalties, which is why businesses must be aware of them.
4. Rise of Targets on Small Businesses
While large businesses are often the target of cyber-attacks, small businesses are becoming increasingly attractive targets for attackers. In fact, they’re targeted 43% of the time because they often have less robust security systems in place, which makes them an easier target. In addition, small businesses often have fewer resources to dedicate to cybersecurity, making it more difficult for them to recover from an attack.
5. Mobile Device CyberAttacks
The fifth reason why cybersecurity is so critical for businesses is because of the growing number of cyber-attacks that are happening on mobile devices. As more people use their mobile devices for work, they become an increasingly attractive target for attackers. In addition, many businesses are now using mobile devices to store sensitive data, which makes them prime targets. As a result, it is essential for businesses to have robust security systems in place that protect work mobile devices against these types of attacks.
How to Protect Your Business Against Cyberattacks
Employee education is a business’ first line of defense against threats, which is why it’s essential to properly train and teach your workforce to identify risks and improve their online habits. Preferred Business Systems provides layered security training and software to be proactive in preventing attacks. Recent Studies show employees being 3 times more. Contact us to learn how we can empower your workforce and secure your organization.