The month of October was Cyber Security Awareness Month. With this in mind, we’d like to highlight why it’s so important. Each day, business and industry become more and more reliant on the internet. Whether you’re selling products or services, it’s likely that even a few hours without internet connectivity could impact your business. As more companies trend in this direction, the need for cyber security becomes even more crucial. Without it, your business is vulnerable to countless forms of cyberattack.
Small Businesses are Especially Vulnerable
When it comes to cybercrime, the most profit is always going to be massive companies with equally massive assets. We’ve grown accustomed over the last decade to regularly hearing about Sony or government bodies being hacked. That’s what makes the news. What doesn’t make the news is when small businesses are the victims. Software company Symantec shared the alarming statistic that 43% of cyber-attacks target small businesses.
The Threat is Only Growing
With this growing reliance on the internet and constant connectivity, cyber threats grow as well. -According to Forbes, the cost of cybercrime in 2013 in the United States was approximately $100 billion. This ballooned to $400 billion by 2015. Forbes further estimates that the cost could reach as much as $2 trillion by 2019. With costs predicted to jump that much, cyber security is more important than ever before.
Cyber Crime Against a Business Affects the Customers
When hackers and cyber criminals infiltrate your servers and steal your data, they’re stealing the data of your customers as well. This is perhaps the primary reason why the Home Depot hack in 2014 was so devastating – by hacking the company, the customers data was available and at risk. Trust between businesses and their consumers is very important and very fragile. It is crucial to your business that you protect your customers’ personal information.
Most companies have some form of security for their networks. However, having a complicated password or a firewall are simply not enough. If you want to truly protect your business and your customers from cyberattacks, you will have to enlist the help of more advanced programs and experts.