The media and security professionals have emphasized cybersecurity’s importance for SMBs. Still, we want to go further and discuss why cybersecurity in a recession is worth it. We’ve listed our top five reasons why you should prioritize security when investing your dollars this year by looking at the main arguments against cybersecurity and focusing on what SMBs can do to protect themselves.
#1: SMBs are Vulnerable
Your small business is the number-one target for cyber-attacks. A research study by HP’s COO and CFO revealed that 92% of small businesses have been affected by a cyber-attack in the last six months and that most of those attacks were successful. It is clear that while SMBs know they are vulnerable, they also realize they have the resources to defend themselves. The fact that only 20% of SMBs have a cybersecurity solution in place shows how little recognition there is for the importance of cybersecurity among SMBs or how many dollars companies are willing to spend on it.
#2: The Cost is Falling
The time may never be better to invest in cybersecurity than now. There are many tools and resources available that can make even the most risk averse SMBs feel like big players. But even though the technology is more accessible, it doesn’t mean that there aren’t plenty of downsides to choosing not to invest in security. Small businesses that don’t actively protect themselves online may be inviting cyber-attacks that can cost even the most prepared company’s assets, reputation, and network.
#3: Adequate Protection is Affordable
Investing money in cybersecurity for your SMB doesn’t need to be an expensive endeavor. There are many solutions available for a variety of business sizes and needs. It is possible to invest in security and not feel the burden of additional costs. If you are operating on thin margins, it is important to note that solutions can cover your business for less than $100 per month.
#4: Cybersecurity Doesn’t Depend on the Administration
The defense against cyber threats is not a one-time event that requires a technician to deep-clean your network. Instead, specific actions are taken daily to ensure that cyber threats are neutralized. Companies should indeed seek out managementto improve their established cybersecurity policies. Still, it is also true that there are simple steps you can take yourself as an individual or manager to ensure you aren’t inviting malicious actors into your network.
Investing in cybersecurity can be a simple process. Once you recognize cybersecurity’s importance and affordability, it will be easier to prioritize the protection of your business. Once you discover how ransomware can impact even the smallest of SMBs, you will realize the importance of having ample security measures in place for your business.
