Cyber-attacks on small businesses are increasing every year, and the consequences can be severe. From reputational damage and loss of sensitive data to significant financial costs, the impact of a cyber-attack can be devastating for a small business. It’s not a matter of if a business will experience a cyber-attack, but when. In this blog post, we’ll discuss why it’s essential for small businesses to be prepared for cyber-attacks and best practices to prepare.
The Cost of Being Unprepared
The first mistake many small business owners make is underestimating the frequency and impact of cyber-attacks. The average cost of a cyber-attack for small businesses has drastically increased over the previous years. In 2019, it reached $200,000 per cyber-attack. It’s not only the cost of getting back online that you should worry about, but the loss of business as clients may lose trust in your business if you have a publicized data breach.
The Importance of Vigilance and Preparation
Small businesses must be aware and vigilant to the threat of cyber-attacks. Cybersecurity is not a task that should be below larger businesses. Your digital assets, including customer data and intellectual property, are valuable and vulnerable. The best course of action is to prepare as best as possible.
Best Practices in Cybersecurity
Preparation involves a range of actions and best practices, including:
- Employee training and awareness
- Regular data backups
- Multi-factor authentication
- Cybersecurity insurance policy
- Conducting Cyber Security Risk assessments to determine potential vulnerabilities and breaches.
Building a Cybersecurity Action plan
One of the best steps small businesses can take is to develop a cybersecurity action plan. This plan should include policies, tools, and resources necessary for an effective response to a breach scenario. This plan should be regularly updated and tested, while all your organization’s employees are familiar with it.
Request a Free Consultation
Don’t wait until your business becomes a victim of cyber-attacks. If you’re interested in learning more about how to protect your small business from cyber-attacks, contact us today for free IT consultation. We’ll evaluate your current IT infrastructure, identify potential vulnerabilities and provide a roadmap to ensure your cybersecurity posture. Protect your business, your customers, and your reputation with an effective cybersecurity plan.
In the modern world, being unprepared is no longer an option. Every small business should proactively take steps to protect its digital assets. This includes staff awareness, access controls, data backups, and having a Cyber Security Risk Assessment conducted. If you’re ready to start this journey for your business, Virtually Managed IT Solutions is here for you.
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