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Why Does Cybersecurity Matter to Startups and Small Businesses?

Why Does Cybersecurity Matter to Startups and Small Businesses?

by Awesome Author | Sep 30, 2022 | Cyber Security

In this age of digitalization, no company, industry, or country is safe from cyberattacks. Every organization has vulnerabilities that hackers may exploit. And knowing that startups and small businesses revolve around evolution, which needs constant change to adapt to the ever-changing technological world, you have to consider that this agility also creates possibilities for new risks. By that, we mean cybersecurity threats.

Unfortunately, startups and small businesses often believe they don’t need a cybersecurity program because they are too tiny for scams and attacks. What they don’t know about that mindset is it only exposes them to a broader scope of threats.

In this article, we’ll explore more about the significance of cybersecurity and provide some security tips for startups and small businesses. So, if you own a small firm or are just starting your company, read on and learn about why cybersecurity matters to your business.

Cybersecurity Threats

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The Importance of Cybersecurity

By definition, cybersecurity secures your data, which includes everything from sensitive intellectual property to the personal information of your clients and workers. Without it, you’re making your business vulnerable to threat actors who could endanger your company’s confidential information and reputation. However, if this isn’t enough reason for you to invest in cybersecurity programs, here are a few more:

1. Startups and small businesses are usually seen as easy targets.

Startups and small businesses make an easy target for threat actors because of numerous reasons:
• Shortage of budget for a thorough and updated security defense system
• Limited security awareness among employees
• Lack of risk management policy and procedure and lack of risk awareness, in general
• Failure to secure endpoints
Since startups and small companies tend to keep their focus on marketing and growing the business, they often overlook the importance of security. And that just gives hackers more advantage to quickly getting access to the company’s data. In fact, according to Verizon’s 2019 data breach investigation report, 43% of all data breaches targeted small businesses.

2. You hold invaluable information.

You have to understand that even the smallest businesses or the newest startups still hold sensitive information like your employees’ and customers’ personal or financial details. And that information is what the hackers are interested in. With that in mind, having a security defense system is vital to protect confidential information.

3. Non-compliance can be expensive.

For doing business in new markets, there are usually independent compliance requirements that you need to follow. Failure to do so, in this case, data breach, only gets you to spend more than the amount you’ll pay for solid cybersecurity measures. If you think about it, investing in cybersecurity is way better than paying for data breach costs (non-compliance), operational costs, and reputational costs. That being said, always make sure to allot a budget to security and comply with data security regulations.

4. An established cybersecurity program gives you a competitive edge.

If you adhere to safe security practices, chances are you attract clients and business partners to work with you. Knowing that you have a robust security system as a startup business, they will be confident to put their money and trust in you.

And aside from business partners, you also help retain your employees to take every step with you in growing the brand. It’s already difficult to hire people, so don’t make it even more challenging to retain them because of security risks.

5. A cyber-attack can put an end to your business.

If you have a startup company, be aware that even the slightest glitch could cause your corporate growth an end. You must, therefore, weigh the risks to thrive and expand.

A breach during the early stages of your organization could seriously put all your hard work to an end. It is typical for hackers to take down vital network infrastructure and websites after a data breach using DDoS assaults and other techniques. Fixing that requires a lot of money to risk with no assurance of regaining access and control of your data and IT systems.

As a small business, there’s a huge possibility that you won’t only lose a lot of money and reputation in this situation but will also find it hard to recover. In the worst-case scenario, the business will only resort to having a total shutdown.

Privacy & Cybersecurity for Small Businesses

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How To Mitigate Cybersecurity Risks

Now that we have learned about the significance of cybersecurity in startups and small businesses let’s discuss how to mitigate the risks. Even though developing and maintaining a cybersecurity program may seem challenging and frightening, there are fundamental steps you can follow to get started. Here are some:

• Establishing a comprehensive cybersecurity framework based on zero-trust principles
• Investing money in training employees about security management
• Updating software and operating systems when new patches are released
• Ensuring that firewalls and antivirus programs are up to date and providing adequate protection for all devices
• Using identity management to monitor and limit access to sensitive data
• Using a strong password and updating it regularly
• Implementing access management tools, such as single sign-on (SSO) and multi-factor authentication (MFA)
• Data encryption and regular data backup

The Bottom Line

In this digital age, inadequate security measures affect everything for every business, small or startup. With that in mind, we can say cybersecurity matters—as it is no longer an option to take but a necessity. So, to protect customer data and intellectual property and grow as a business, start investing in strong cybersecurity programs.

This article was written by Katie Pierce

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How Is VPN Changing The Way Everyone Uses The Internet

How Is VPN Changing The Way Everyone Uses The Internet

by Awesome Author | Jan 4, 2022 | Cyber Security

The internet has been here for decades, and since its invention, the internet has helped to connect people worldwide. Due to the internet, now the world is virtually a small village. Communication is instant, and access to information is relatively quick.

Everyone uses the internet for various purposes. From finding information, products, and watching movies, the internet is the first place people run. However, various restrictions and safety measures hinder people from exploiting the internet’s full power in everyday life.

Internet VPN

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VPNs have been developed to change the way the internet can be beneficial to various internet users. With a VPN, your access to information over a network is encrypted beyond the common HTTPS protocol.

It makes your access “private” in the sense that nobody can tell what you are doing online. You can also use the VPN to disguise your location and identity. These are five ways through which VPN has changed the way we use the internet.

Security for Online Transactions

Hacking is a common crime in cyberspace. Most hackers target weak networks to read the information you send and receive over the network. Even with the implementation of security protocols, hackers can access user data.

With a VPN, you can tunnel all your communication from your device to the server and back. VPN uses a form of communication protection that hackers cannot access. Even surveillance systems have no access to the content going through a VPN. Therefore, having a VPN on your computer or phone is essential when accessing sensitive information databases or transacting online.

If you are the person who works on your computer and stores your documents online, you might want to use a VPN. You do not wish anybody reading the credentials you use to log onto your cloud storage database, especially now that you have to work from home and share documents online for collaboration.

Protect Your Devices and Personal Data

Phishing

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It is always advisable to connect to a network you trust whenever you use the internet. That is why home connections are essential. However, you can use mobile data for some little information searches if you are out. You would need to visit an internet cafe to access content that requires heavy internet traffic.

However, in some cases, you cannot easily locate internet cafes or charge you more for the services you want to access. Then you come across some cheap or free public WiFi. You cannot resist the free network when you need to connect. But public networks come with a catch. You might compromise your privacy by accessing shared networks with people you do not know.

Hackers on the network not only read the information you send over the network but also have access to your phone. They can see your apps, pictures, passwords, and so much that you have saved on your device. If someone hacks your phone, for example, he can ruin your whole internet life.

Unlock Bandwidth Throttling

It will depend on where you come from. In some regions, your ISP will sell bundled internet packages. It means that you deplete the assigned package and get disconnected until you buy a new data package. Some ISPs give their customers “unlimited” but metered network access. It means that they will tell you that there is no limit to how much you can use the internet. However, they will limit the speeds “to provide a better experience for all users.”

In most cases, the policy is not meant to make anything better. They want to frustrate you with a poor connection so that you can upgrade to a “better” package with faster connections. The same sequence will continue. The “better” package is also under moderation; your connectivity becomes limited after passing a sure cap.

To avoid paying for more expensive packages, you can encrypt your data connection with a VPN. The information that passes through the connection cannot be monitored. They cannot tell how you are using the internet to cripple your connection. In that way, you will have the freedom to use the internet for whatever you need.

Protect Your Identity and Activities

Internet Scam

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Do you download torrents? Are you comfortable with everyone knowing where you come from, reading your IP address, knowing your city and ISP? I bet no one wants to be identified anywhere on the internet. Yet, torrenting is one of the ways that you can easily get tracked down to your location using your public IP. In places where downloading torrents is prohibited, you may find yourself in trouble if you try downloading torrents with an unmasked network.

With a VPN, nobody can tell your location because the service gives you an IP from among the clusters they use from various parts of the world. Those IPs cannot be traced to individuals because they show the VPN name when doing a lookup.

Featured Image Credits: Pixabay

Technology Solutions

Technology Solutions

One company that knows about the importance of security and risk management to the health of your business is Thistletech Limited, based in Tauranga, New Zealand.

They can show your team how to build an end-to-end operating model for creating, delivering, and continual improvement of tech-enabled products and services.