Cybersecurity hasn’t been a priority for small businesses…
Employees waiting until the last possible minute to complete security training; endless paperwork from the cyberinsurance company; constantly changing rules and best practices – no wonder cybersecurity is so often an afterthought. So much lost morale and productivity, and for what?
Small businesses, in particular, cannot absorb these types of tasks like a bigger corporation. Entrepreneurship is all about moving quickly and running lean to disrupt the space and grab market share before the big corps catch on. That laser focus on building the business means that cybersecurity often gets sidelined. But, cybercriminals don’t sit idly by while small businesses grow. They look for easy targets, and that’s often startups and other small businesses who have overlooked cybersecurity in favor of growth.
…but it should be!
The short-term savings from punting on security pale in comparison to the long-term costs. Small businesses used to be less enticing targets, but new technology has changed everything. With the advent of AI, it’s cheaper and easier than ever to launch an attack: grab employee info off LinkedIn, scan the dark web for passwords, and set the AI to work creating sophisticated phishing scams or easy entry points into company systems. Suddenly small businesses are a cost-effective target. And sure enough, 43% of cyber attacks are aimed at small businesses. The costs to you?
- Financial loss: When hackers take down your systems, your operations are disrupted, and you risk fines from regulators plus increased cyberinsurance premiums
- Reputational risk: Data breaches erode trust with customers, a precious commodity for startups and small businesses
- Insolvency: Worst case, a cybersecurity attack can kill deals and empty your bank account, risking bankruptcy and ruin
Cybersecurity can be a lever for growth
But enough with the fearmongering and risk mitigation. Employees at small businesses, and especially start-ups, are willing to stomach some risk for the chance at building something amazing. Here’s where the good news comes in: cybersecurity investments can actually drive growth. Here’s how:
- Sign bigger contracts: Big prospects demand that you take security seriously, and will need real evidence including certifications like SOC 2
- Speed up sales cycles: Instead of wasting time answering one-off security questionnaires, sending over a security certification report often does the trick
- Access funding: Many M\&A deals include cybersecurity due diligence and will not close without key security measures in place
- Accelerate development: Building good practices from day one drives overall security costs way down in the medium- to long-run. Changing technical architecture and/or business practices later is always expensive, and always risky
We can help you
Cybersecurity roles are not at the top of the list for open headcount on lean teams at small companies. At this stage in the game you don’t need a full time role, but you do need a partner with the right experience to navigate this topic. We’re here to help. With multiple decades of security, engineering, infrastructure, and strategy expertise, Stronta’s broad range of cybersecurity solutions is tailored for small businesses and their varying needs – all at a reasonable price point. Below are some of the top ways to improve your security posture:
- Password management: Setting up a password manager is a quick and easy way to minimize threats
- Cybersecurity insurance: Let us speed up your paperwork
- Stronta’s “Jumpstart” package: We catalog your systems and data, evaluate their security, and tailor a plan to fit your business needs
- Security Certifications: Obtain certifications in less time with our consulting and implementation services