According to a study from cybersecurity firm Kapersky, the average cybersecurity breach costs small businesses somewhere between $120,000 and $1.2 million depending on the size of the business. That’s a stunning statistic you can’t afford to ignore as a business owner.
It’s not you’re necessarily failing in your duties to protect your business. In most cases, you don’t have the time, money, or resources to stop cyberattacks. However, saving your bottom line is always worth your time investment. To halt cyberattacks, you need to know why they might happen. Learn why your business is vulnerable and what you can do to level the playing field.
1. Lack of Employee Training
One of the biggest reasons why small businesses are vulnerable to cyberattacks is due to a lack of training. It’s not that employees aren’t aware of cyberattacks; they just don’t know the severity of the issue and how the smallest mistake can end up hurting the business.
If possible, have a meeting with your employees to update them on cyberattacks, how they occur, and how to identify them.
2. Failure to Update Spyware and Security Software
Another reason why small businesses are susceptible to cyberattacks is a simple fix. You’re simply failing to download the latest updates to your spyware and other security software.
However, you can overcome this minor indiscretion by setting your software to automatically download updates. Or if you notice a pop-up that states your security is about to expire, make sure that you get a new subscription. It’s too easy not to do it.
3. Poor Password Protection
Having passwords to your computer systems is integral to keeping them safe. But if you’re using poor passwords that are easy to solve, you’re not doing your business any good. Avoid simple passwords — such as “password” or “password 1234” — by giving your password a mix of numerals, letters, and symbols. The more non-sensical it is, the less likely hackers are to figure it out.
4. Lack of Insurance
Believe it or not, cyberattacks have become such commonplace that many insurers are now offering cyberattack insurance. While this may seem like overkill, it’s perhaps the best purchase you can make, especially considering the six- or seven-figure losses that can occur from a single breach.
The silver lining is that most insurers give you a discount for bundling certain policies. So if you already have liability insurance or other business insurance, inquire about whether you can add cyberattack insurance at a discounted rate.
Don’t Forget About Your Onsite Business Security
Cybersecurity is an important part of any small business, but don’t neglect your onsite surveillance and security. Up to 5% of your yearly revenues are lost to employee and customer theft — so like cybersecurity — it’s too much of an issue to ignore.
But you can’t always do it alone. To shore up your business security and surveillance, use our experienced team at Texas Surveillance and Security. We can provide the productions and solutions you need. With a one-two punch against onsite and cyber threats, you can keep your money where it belongs — in your pocket.
Texas Surveillance and Security provides security camera systems to fit your needs. We’ve been serving the Texas business sector for many decades and can provide you with a detailed assessment plan and proposal. Contact us today.