Here’s Why Small Businesses Need to Take Web Security Seriously
Let's look at three key topics when considering cybersecurity for your business.
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Think you’re a small business and don’t need to worry about cyber attacks? Think again. Recent data shows that small businesses constitute 58 percent of the victims of malware attacks, 92.4 percent of which are sent over by email. Moreover, 2017 stats reveal that 60 percent of the small business owners say that cyber breaches now have more severe impacts.
The numbers make one thing crystal clear: you need to be prepared to combat any online attack. There was a time when hackers used old technology against new systems, which became a hurdle for them. Today, their ways are more sophisticated, and stealthier. Your business, no matter its size, can catch a hacker’s eye.
A cyber thief doesn’t only gain information on your payment accounts and steal money. The damage caused is of a larger scale than even that. The personal information of your employees, vendors, and customers is on the line as well. And you are responsible for all of it.
This is why you should be smart and take proper security measures. Are you still double-minded about whether or not you need to upgrade your business’s web security? Let’s dive deeper into this matter; below are three-pointers that explore the importance of cybersecurity.
Hackers Are Out There, and They Want More Than Your Money
Like we mentioned above, attackers online are not just looking for a weak point in the infrastructure of your online business to steal your money. While they are at it, they also suck out whatever available account details of customers are present as well. They can also catch the payment card or bank account details of vendors and employees to drain them of their finances, too.
Moreover, theft is not only limited to bucks. Hackers also steal information. A small business suffers corporate information loss as well when it falls into a hacker’s trap. Ideas can also be stolen. Blueprints, templates, and other such material can be lost if a business’s web security is breached.
The legal costs of this illegal activity carried out by someone else also falls on the shoulders of the business owner. Due to failure in keeping customer information safe, a businessman who becomes the unfortunate victim of a cyber attack has to pay any fines or regulatory sanctions as well.
Your Business Loses its Reputation Along With its Finances
If a small business’s security measures get compromised, it has to work twice or thrice as hard to get the revenue back up. Moreover, the cyber attack also negatively impacts a company’s reputation. Customers who face the consequences of a weak security setup of a business are not likely to shop from that business again.
Why? The answer is pretty simple: no one wants to put his personal information at risk. The business does not only face troubled customer relationships but its relationship with vendors, suppliers, and clients may also crumble. Additionally, investors, partners, or other third-parties working with the company may decide to sidetrack as well.
An Attack Can come From Any Direction
Web apps and e-commerce platforms are very popular these days. This year, the use of mobile applications has catapulted too. Shopping via apps and websites on cell phones is going to increase even more. This increases convenience for the customer, but the business owner has to take on additional work to ensure proper security.
With the rise in technology, attacks of hackers are also getting smarter. Mobile usage and applications are giving them more routes to come and attack from. This means that cybersecurity measures must also be upped on these platforms lest an attack comes from the direction it is least expected from. An attack can also disrupt network connection and cause infrastructure or technology loss.
What Can You Do to Maintain Web Security?
As of 2016, cybercrime stood second in the list of the most reported crimes. With all the consequences that come with breached cybersecurity, it is essential to take measures beforehand and keep your online business protected. In this regard, here are some measures that can be taken:
- Ensure that the passwords being used are strong. 60 percent of network intrusions take place due to compromised passcodes and usernames
- Go for two-factor authentication. Such a method involves having another piece of information in place to keep your account secure other than the password
- Keep all accounts, apps, and software updated. Certain updates are made to protect these products and services from cyber attacks
- Build your online business on a secure hosting platform, such as GoDaddy, HostGator, Bluehost, etc. Make sure you purchase security features
- You can also invest in web security service providers. These include but are not limited to Sitelock, Cloudpassage, Proofpoint, and many others. You can use coupons for web security to get packages on discounts
- Make sure your wireless networks are safe. Monitor your site for security. Set up a firewall. Make certain the system alerts you in case of suspicious activity
Similarly, there are several other measures as well that you can take to keep your business safe from fraud. Educate yourself on the matter and hire a professional to help you out if need be. Also, don’t forget to educate your employees about all necessary security measures as well.
Online security is a matter of grave concern. Not securing your small business is setting it up for a trap. Hackers are always waiting for the moment your site is vulnerable enough to attack. The damage done by them runs deeper than theft of money; they can smash the foundation along with the structure of your business. Don’t let your hard work go to waste by missing out on taking crucial security measures.
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