Cybersecurity Steps to Prevent the Demise of Your Small Business

Cyber ​​threats are not just a problem for large corporations and governments; small businesses can also be targeted. Studies show that 22% of small businesses have been victims of cyberattacks. According to the latest data, approximately 11% occurred in the past year.

It is essential to protect your business from cyber attacks, but the fact is that some business leaders do not know how to do it. This article will help small business owners navigate the world of cyber threats.

What is at risk?

Cybercriminals are interested in your money, data, and IT equipment. If a hacker gains access to your corporate network, then he can use anything he finds in it to harm the company, for example:

Complete information about the company’s clients. An attacker can determine the company’s customers and credit card numbers.

Complete information about your company. Employees, payment information, financial data, and pricing policy become known; who should not know this.

Your plans for the future. Hackers may be interested in what direction your business is heading.

These attacks put more than just your company at risk. Hackers can use their access to your network as a stepping stone to gaining access to the networks of other companies where you are part of the supply chain.

What can happen as a result of an attack?

A cyberattack can significantly impact your business. 60% of small businesses that are victims of an attack close within six months of the incident. This is, of course, the most devastating result of an attack, but your business can have other consequences, such as:

  • Financial losses from the theft of bank information.
  • Economic losses from the shutdown of the company.
  • High costs to restore your network.

Reputational damage after notifying customers that their information has been compromised

What can you do to protect your business from cyber threats?

Small businesses may feel helpless against cyberattacks. However, you can take steps to protect your company. Here’s what you need to do first.

Use virtual data room

The first and most straightforward way to protect your data is through virtual rooms. They are ideal for any task. Here you can store information, make calculations, carry out large transactions, and edit documents. In programs, joint work on documentation is available. For example, in VDR, you can hold meetings with voting protocols. This is ideal for businesses of any size.

Independent tests and reviews

Virtual data rooms, in most cases, do not cast doubt on their qualifications. On the contrary, each provider proudly talks about its data protection technologies. However, you can insist on an independent test if your enterprise works with precious information. It is unlikely that the software manufacturer will refuse you this.

Perform a risk assessment

This should be one of the elements of an audit in your company. Check every little thing that jeopardizes customer data, your plans, and your production processes.

As part of your risk assessment, examine where and how your data is stored and who has access to it. Determine who might want to access the data and how they might try to do so. Determine the levels of risk of possible events and how security breaches could potentially affect the operation of the company.