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Why Invest in Cyber Security If You're Going to Get Hacked Anyway?


 

As Keith Cunningham points out in his book The Road Less Stupid, succeeding in business often comes down to doing fewer dumb things. Unfortunately, when it comes to cyber security, many small businesses make the mistake of assuming they're not big enough to be a target or that they don't have anything worth stealing.


But the reality is that millions of small businesses are hacked every year, and many of them go unreported due to the fear of negative publicity and loss of trust from clients and the marketplace. Hackers are not deterred by the size of a business, and they're not just after the obvious targets like credit card numbers and social security numbers. Your business's data and information are valuable, and hackers will use ransomware attacks to hold your files hostage for a hefty sum.


Some businesses might argue that they're better off skipping the expense of cyber security measures and relying on insurance to cover any losses in the event of a hack. But cyber insurance policies have changed significantly in recent years, with insurers increasingly requiring proof of certain security measures in place before issuing coverage. In fact, some experts predict that cyber-attacks could soon become uninsurable.


Moreover, hackers are getting savvier and more sophisticated, and they're increasingly targeting backup systems as well as primary data sources. Ransomware attacks can leave you with no backup options, as hackers may corrupt your backup and threaten to release your sensitive information online if you refuse to pay.


Investing in cyber security measures may not guarantee that you won't be hacked, but it can dramatically reduce the risk and prevent the majority of attempts. Just as wearing a seat belt and practicing good driving habits won't guarantee you'll never be in a car accident, investing in cyber security measures won't guarantee that you'll never be hacked. But both measures will significantly reduce your risk of harm.


Don't let a lack of understanding or fear of expense prevent you from taking cyber security seriously. Small businesses are particularly vulnerable to attacks, and investing in cyber security measures can protect your business's reputation, your clients' data, and your bottom line.


If you're unsure about your current cyber security status, schedule a free, confidential assessment with us. We can help you identify potential vulnerabilities and create a plan to protect your business from cyber threats.


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