Why Small Businesses Should Consider Web Security to Be Important
As per recent data, small-sized businesses make up 58% of those fallen victims to malware attacks. An even more alarming statistic is that 92.4% of malware used in those attacks, were sent to those businesses via email. Furthermore, data from 2017 shows that 60% of the business owners feel that the impact of cyber breaches is more severe. One can not help but agree with them. From the statistics alone, one thing is clear: small businesses have to be ready to fight against any cyber attack.
Hackers use to use previous technology to hack into systems, which became more of an obstacle for them. Nowadays, the ways of hacking are stealthier and more sophisticated. Your business, regardless of the size, could be noticed by a hacker. So if you think that your small business does not have to worry about cyberattacks, think again.
A cyber thief gains information regarding your payment accounts and steals money, but their actions do not stop there. The damage caused by hacking is way more than you can imagine. The personal information of workers, customers and vendors is also on the line. You being the employer are responsible to take measures to keep that information safe. In other words, you should significantly invest in cybersecurity.
Business owners should take the right measures to keep that data safe, or else, their business is doomed for failure. Hackers are always on the lookout for moments where your website security is weak enough for an attack. Are you contemplating whether or not to upgrade your business web security? Let us delve deeper into this subject; here are some pointers that explore the significance of cybersecurity in this digital era.
Hackers Are Looking For More Than Just Your Money
Cyber attackers are looking for loopholes in your online business infrastructure to steal your funds, but be careful, this is not the only thing they seek. While cybercriminals are stealing your money, they’ll also take whatever available customer account details they can get. They can also access the bank account or payment card details of your vendors and workers bank accounts or payment card details to take away all their finances, as well.
In addition to money, hackers steal information too. A small organization can also lose corporate information and ideas when they fall into a criminal’s trap. Ultimately, it all boils down to how strong your business web security is. If it’s breached, then even things such as blueprints and templates could be gone for good.
The business owner is also responsible to bear the legal expenses resulting from this illegal activity of another party. As a result of a failure in keeping their customer’s information safe, business people who become the victim of cyber attacks, will have to pay any regulatory sanctions or fees too.
Your Business Also Loses Its Reputation and Capital
If the security measures of a small business are compromised, then it should work twice as hard in order to get its revenue back up. Furthermore, the cyber attack negatively affects the reputation of a company too. Customers facing the consequences of an inadequate security system of an organization, are unlikely to shop from that company again.
It’s easy to see why this is the case: nobody wants to put their personal information at stake. That organization might face strained customer relationships, and their relationships with suppliers, clients and vendors might also crumble. In addition, partners, investors or any other third party, who works with the organization might also decide to part ways.
A Cyber Attack Can Emerge From Wherever
E-commerce platforms and web applications are extremely popular nowadays. In 2018, it has become more famous to use mobile applications for shopping online. Shopping via websites and applications on mobile phones will likely become even more common. This will increase convenience for customers, but business owners should take on more responsibilities to make sure of proper data security.
With the increase in technology, cyberattacks are also becoming smarter than ever. Mobile applications and usage are giving hackers more routes from which to breach security and attack. This means cybersecurity measures also have to be enhanced on these platforms in case an attack emerges from the least expected direction. An attack of a hacker can disrupt network connection too, causing technology or infrastructural loss.
What should business owners do in order to maintain online security?
Given all the repercussions of breached security, you must take measures in advance to keep your web business secure. In this regard, here are some of the measures that can be taken.
- Make sure that your business network passwords are strong. Around 60% of network intrusions happen because of compromised username and passwords.
- Choose two-factor authentication. This strategy involves setting up a second piece of information, besides the password, to keep your business account safe.
- Keep all accounts, web applications and other software up-to-date. Some updates are done to protect these services and products from cyber attacks.
- Choose a secure web hosting service for your business website. Make it a point to invest more in security features, when subscribing to such a web hosting package. This may be costly at the beginning, but doing so will pay dividends in the long term.
- You might also want to think about investing in a cybersecurity service, to make your business system more robust than before.
- Ensure that the wireless networks of your business are also safe. Monitor your website for security; have a firewall in place for that. Make sure the system notifies you when suspicious any activity occurs.
Similarly, you can also take many other measures to keep your online business safe from cyber fraud. Learn more about this matter, and seek the services of a cybersecurity professional if you need their help. Besides, be sure to educate your workers on all essential security measures too. Do not let everyone’s hard work be wasted by failing to take important cybersecurity measures.