New Entrepreneur? How to prepare for a cyber attack

If you’re thinking of starting your own business, cybersecurity should be a top priority. According to the FBI’s 2020 Internet Crime Report, businesses reported losses of more than $4.2 billion to cyberattacks.

Even one attack on your business could wreak such havoc that you might not be able to recover. So, here’s what you need to know to protect your new business from cyberattacks and keep you and your customers’ data safe.

What’s at Risk?

The risks from a cyberattack are substantial and could severely damage your business.

Customer and employee data is a prime target in a cyberattack since cyber criminals use personal information such as emails and Social Security numbers to their advantage.

This type of data breach would be a major blow to your new venture. It could lead to the loss of trust in your business. Without trust, your reputation takes a big hit and you lose customers and employees.

How Can I Avoid an Attack?

Data security is essential to avoid a cyberattack. You should not go into this asking if an attack is going to happen but asking when it’s going to happen.

Note that a firewall provided with antivirus software can stop malware before it reaches your important data. Also, encrypting your data can protect it when you have to send it to another site.

Changing your passwords frequently is also good practice. Another alternative is to hire a cybersecurity firm. With this option, you pay experts to help protect your data. It may be a little extra money, but when compared to the cost of a cyberattack, it’s worth it.

What Do I Do if I Am Attacked?

If you have been cyberattacked, it’s a devastating feeling, but you need to act. First, assess your losses to determine the next steps.

An email breach will require a different response than a Social Security number breach. Next, use your resources to find the virus or malware that caused the attack.

This may involve scanning every computer and even turning off the internet to prevent the virus from spreading to others. Finally, rebuild your defenses.

Whatever you were using didn’t work, so decide on what new defenses you need to prevent future attacks. If necessary, invest in new software or anything else you need to protect your data.

 

Read Also 10 Reasons why Small Businesses Fail & Suggested Solutions

Should I Invest in a Cybersecurity Solution? 

Just look at the news and you’ll hear about companies suffering from cyberattacks more and more frequently. According to statistics, 43% of cyberattacks occur in small businesses.

If you are investing your money into your new business, do you want to risk losing your computers, USB drives, servers, networks, or mobile devices to a cyberattack?

The money you pay for protection now is far less than the amount you will pay later to recover from a cyberattack.

Also, consider the potential loss of customers whose data was breached in the attack. In the end, the blame will fall on you for not having the proper protection.

The Bottom Line 

The data and resulting financial losses you incur from a cyberattack will far outweigh the cost of protecting your business against it. The best course of action is to invest in cybersecurity from the beginning.