This year has been the worst year for cyber crime. According to the 2019 Midyear Quickview Data Breach Report, more than 3,800 data breaches were reported within the first six months—more than double the number of security breaches in 2018. And while it’s big names like Facebook, Sony, and Yahoo that usually make the headlines, it doesn’t mean that small businesses are exempt from hacks. In fact, a recent Ponemon study found that nearly 70% of all small businesses experienced a cyberattack in 2017, while half admitted to having no idea of how to protect their company against an attack. Nobody is safe from the threats of malicious hackers—not even startups or small companies.
So, here are five reasons why your small business needs a dedicated cyber security professional today:
Sensitive Data
You don’t have to be a large corporation to hold sensitive data. Small businesses, especially eCommerce companies, have access to a lot of data, including customer information, employee records, and intellectual property, among others. Cyber security experts can protect all those not only from hackers but from computer-generated attacks as well. Because of the size of the company, it may be harder to bounce back from a breach, especially in today’s consumer-focused landscape where it’s easy to post public complaints.
Payment Security
If your business accepts credit card payments of any kind, no matter how small, you are automatically susceptible to payment processing fraud. For the most part, it’s best to follow the guidelines on the Payment Card Industry Data Security Standard to prevent fraud from happening. However, hiring someone to encrypt your payments can prevent third-parties from getting involved altogether.
Social Media at Work
You can impose social media bans all you want, but that doesn’t mean your employees are going to follow them—nor is it beneficial for their overall productivity. In fact, Sourcify CEO Nathan Resnick encourages social media in the office. For him, it has become an invaluable tool for keeping his employees engaged, happy, and informed. Because you don’t want any of your data accidentally leaking out whenever they go online, a cyber security specialist can at least ensure your network’s privacy.
The Favorite Target
As a small business, you have to reach out to potential customers and expand your market. However, customers aren’t the only people who see your online advertisements—hackers do as well. The lack of resources you have means your business is a prime target for cyber attacks, and this is what hackers take advantage of the most.
Lack of In-house Tech Specialists
Larger organizations will have access to the latest security measures, but most small businesses don’t have the same luxury. For many small businesses, outsourcing cyber security services is the only option, especially since they don’t have the staff or resources to address potential threats. By outsourcing, small businesses can also have access to enterprise-level technology, while expanding their network of partners.
While cyber threats continue to grow at an alarming rate, what’s equally shocking is how companies still refuse to perform the necessary measures. True enough, tech writer Michael Guta reveals that more than half of small businesses still don’t employ the proper experts to deal with these issues. It’s no longer enough to use strong passwords and a firewall. A discussion on Maryville University’s cyber security degree page highlights that there is so much more to the industry—from malware analysis and cloud security, to digital forensics and more. These are all areas of concern that could be costly to undo if security ends up being compromised. The key takeaway is don’t wait for the worst before outsourcing experts to protect your business.
Post specially contributed to truemerchant.com
Contributed by: Guest Blogger JenTalksTech
