In recent years, we have seen large corporations suffered major cyberattacks as malicious hackers seek to profit from the valuable data contained within these companies’ secured servers. These attacks have highlighted the importance of having a solid cybersecurity system to prevent such incidents from happening to your business.
However, it is not just mega-corporations that are vulnerable to security breaches. Startups and small businesses are also at risk of being exposed to such cybersecurity threats. Let us take a closer look at why these companies are such attractive targets for cyber-criminals and why it is vital for these business owners to remain vigilant by equipping their employees with the knowledge to combat such threats.
Hackers are always on the lookout for easy targets
Small to medium enterprises are attractive targets for hackers because they often lack the resources and knowledge to handle a security breach. Large corporations typically have strict cybersecurity measures that make hacking them challenging. Additionally, they possess sufficient resources to test and enhance their systems regularly to ward off potential cyberattacks. This has forced hackers to target other easier alternatives.
An adequate cybersecurity infrastructure may not be a priority for these small to medium enterprises. Due to their limited resources, they may consider it an additional expense instead of a necessity. Therefore, they do not see the need to employ a professional or send their employees for proper cybersecurity training.
The security breach can damage the company’s reputation
The implications of suffering a significant cybersecurity breach can be catastrophic. Your existing customers will not appreciate having their sensitive information leaked to malicious parties, which may prevent them from doing further business with your company.
Additionally, your organisation may find it challenging to engage new partners and customers after a cyberattack. This is because they are likely to view your company as a liability, and they will not risk putting their businesses and assets in danger.
The cyberattack can be costly to the business
As people worldwide become more aware and protective of the information they store online, nations are adopting stringent data breach regulations to penalise companies that fail to protect their customers’ data. Any infringement of these rules can incur a heavy fine for your company.
The fine is not the only cost your company has to bear. Essential network infrastructures are often crippled during a cybersecurity attack, which will impact your daily business operation. Large corporations usually have backup servers for such situations, but small to medium enterprises often do not have these resources available. While you work to restore the server, the downtime your business is experiencing can have long-term repercussions for your company.
Protect your employees’ data
Customer data is not the only information at risk when a company suffers a data breach. The data of the organisation’s employees are also compromised. Given the emphasis on online privacy and security, you may find it challenging to retain or attract top talents if your company lacks the proper cybersecurity infrastructure, as they may not wish to put their data at risk.
As more organisations look to embrace technology, we may see cyber threats continue to rise. Therefore, it is crucial for small to medium enterprises to safeguard their sensitive information by ensuring their employees possess adequate cybersecurity knowledge.
Suppose you are a business owner looking to equip yourself or your employees with the latest cybersecurity knowledge. In that case, you should consider enrolling in BridgingMinds’s cybersecurity classes. We offer various courses, including CISSP certification, which provide you with the relevant information you need to protect your business against potential cyber threats.