invest in securityBusiness Advice 

5 Reasons Your Small Business Needs to Invest in Security

Have you been scrimping on security measures for your business?

Is security something that you’re planning to get around to later?

If you’re attempting to cut corners on security for your small business, you may be making a big mistake. It’s important that you invest in security early on if you want your business to grow smoothly.

Below are 5 reasons your business needs to start investing in security immediately.

1. Small Businesses Are an Easy Target

While this may seem a bit counterintuitive, the truth is, small businesses are targeted by cyber hackers and other types of security threats even more than large companies are.

Statistics show that small and medium-sized businesses are the most targeted and comprise 62 percent of cyberattack targets.

Criminals expect that a small business won’t have high levels of security in place, and often, they’re right.

If your network isn’t set up with security in mind and you’re only doing the bare minimum to protect your data, it may be time to change that.

2. Size Doesn’t Matter

Believe it or not, size doesn’t matter as much as you would think when it comes to cyber attacks and security vulnerabilities.

Businesses of all sizes have assets of value to hackers and your business may have just what they’re looking for.

If you have access to any amount of credit card info, health data, contact info, or intellectual property, you shouldn’t be surprised if you become a target of a cybercriminal.

3. You Need to Protect Client Data and Trust

When a cyber hacker gets their hands on your customer data, this can, of course, lead to some sticky situations. In addition to customers, you may be opening up a back door to an even bigger company’s data as well.

If there is any kind of data breach, it can strain your business relationships and may just ruin your reputation. It may also lead to some less-than-pleasant data breach lawsuits.

As you can see, it pays to invest in security measures upfront rather than paying extra to repair your reputation later on.

4. There Are More Vulnerabilities Than Ever

Let’s face it. Paper is becoming a thing of the past, and while you may still keep some physical files, much of what you deal with is now located your computer or network.

While technology solutions add a lot of convenience to the way we do business, it also brings in more problems and opens up new vulnerabilities. There are more avenues than ever where a criminal can potentially access your data.

Because of this, it’s also more important than ever to make sure you’re protected from threats. Using managed IT solutions and relying on professional cybersecurity services can be a great idea.

5. Time Is Money

When you experience first-hand the results of a cyber threat you realize that time is money. While it’s possible to come back from a severe security attack or vulnerability issue it will take significant resources, money, and time.

When recovering from a threat, your business may be unable to operate normally. You may be unable to continue doing business and bringing in money during this time.

Add this issue of slowed operations in with the costs of getting your system back up, and you’re in for an uphill battle.

Is It Time to Invest in Security?

By now you should be starting to see the importance of security, both cyber and otherwise. You may believe that your business is small enough where it doesn’t need to have many security measures in place.

However, it’s simply not true. Businesses of all sizes can be targeted. As a result, it’s important that you take the right steps now to prevent problems before they occur.

Looking for more great business tips? Check out our Business Advice section for more insights.

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