Data security and the future of your business protection

One of the largest threats Americans and American business owners face today is cyber attacks. This threat has been on the steady incline and research shows it won’t be slowing down anytime soon. So what does that mean for you? What does that mean for your business? Simply put, it means, serious measures must be taken to ensure data security for your company. The last thing you want is a data breach. 

Let’s take a look at why security is so important and what are the measures you can take to protect your business. 

The importance of data security to your business

Cybercrime doesn’t just affect large companies or international corporations. Hackers target small and medium-sized businesses, too. In fact, recent reports show that around 43% of cyber attacks are aimed at SMBs, and these attacks are costing small businesses around $200,000 a year. 

Alarmingly, however, only 14% of SMBs are properly prepared to defend themselves against cyber attacks. In short, this means that your business may be extremely vulnerable to data loss or corruption. 

Common cyber threats 

While there are many cyber threats to watch out for, there are a few that affect SMBs in particular. Let’s take a look at the threats most likely to affect your business in 2020 and beyond.

Email

One of the most common ways for hackers to attack SMBs is through email. A 2019 report showed that 1 in 323 emails to SMBs are malicious and aimed at either corrupting data or harvesting information. 

Employee Negligence

Too often, employees and contractors accidentally cause data breaches. This may be through a lack of training or simple negligence; for example, an employee leaking a password. A 2018 report revealed that employee negligence accounts for over 60% of SMB data breaches

Ransomware

Ransomware is a huge problem for businesses. Ransomware programs either threaten to leak data or they prohibit access to files until a company pays a ransom. A 2019 annual cybercrime report estimates that, by 2021, a business will suffer a ransomware attack every 11 seconds.

Preparing your company for the future

The simple truth is that data security issues cause downtime which in turn costs your business time, money, and resources. In some cases, this will be enough to cause your company to fail. The good news is that there are steps you can take to prevent your business from falling prey to a data security breach. 

Train your staff 

Preserving data security within a business is a team effort. Ensure your employees know how to spot a malicious email, and help them choose strong, robust passwords that they change regularly. 

Budget for IT

While protecting company data may feel like an unnecessary cost, it’s crucial that you allocate sufficient resources to cybersecurity in your IT budget. Given that SMBs invest on average less than $500 per year in security products, it’s unsurprising that they’re prime targets for hackers. Don’t become a statistic. Invest in cybersecurity.

Outsource your data security needs

The easiest way to protect your company data from hackers is to employ expert assistance. Managed service providers and IT specialists don’t just understand cybercrime – they understand specifically how evolving cyber threats affect your specific business. This support is invaluable in an increasingly threatening landscape.

Contact us today 

The future of business is digital, which means it has never been more important for companies to think about their cybersecurity strategies. For more information on how cybersecurity or data security affects your business, contact us today.