Nowadays almost all new startups and businesses are computerized and present on the web. There is no way to grow and gain new customers today if a company does not have a website, ignores opportunities in digital marketing, and rejects the usage of any technology in working processes.
However, only some new business owners evaluate the role of protecting their commercial information and personal data of their employees when launching a startup. Hence, we collected the list of top 5 things a company should be aware of before joining the market today.
DATA PROTECTION MATTERS TO ALL STARTUPS
When starting a business in 2020, the first thing a business owner has to think about is how the internal data and software of the company, as well as its website and social network accounts, are going to be protected.
The truth is that if a company has just one computer with all the commercial information there, it is already a target for hackers. Therefore, building a strategy of protecting the business electronically is a must for a successful start.
BEWARE OF DATA LEAKAGE
Losing data and misusing it are some of the most common issues that small startups and large companies face today. Stealing the personal information of employees and customers, as well as business data aims at gaining illegal profit, extorting customers and employees, and spoiling a business' reputation on the market.
Of course, if a business is large and successful like LinkedIn or Sony, it can get over the cyberattacks and keep their customers even after a data leakage. However, we cannot claim the same thing will work for small companies. More than half of the new startups who happened to be victims of cyber attacks, close within half a year after the case, as reported by the National Cyber Security Alliance.
As you can see, small business cyber security is even more crucial for the life of a startup than for the corporation.
CYBER ATTACKS HAVE DIFFERENT ORIGINS AND CAUSES
One cannot say they know a lot about cybersecurity in business if they cannot specify the major types of computer attacks and their causes. Below, you can see the most popular threats that a business of any scale should be aware of in 2020:
- Malicious software: Attacks with malware result in failure of one or the whole network of business computers. Hackers use malware to steal business data and money, and make companies lose profits and customers.
- Ransomware: This type of attack targets specific files on your computer, steals them, and blocks them from your use. Thus, after a user loads a laptop hit by ransomware, they cannot access their files. Usually, they get an email or other notification from the hacker with a demand for money transfer to get your data back. We always recommend not paying the ransom. You are helping to fund their illegal activities, and there is no guarantee you'll even get your data back. It's best to contact an IT support company for help.
- DDOS attacks: The “denial of service” happens when attackers load your website or servers of your corporate software with unbearable amounts of traffic. This is to make them crash and make a business lose their profit for a few hours. Such a type of attack is usually imposed on eCommerce startups and companies that use CRM and online customer support, e.g. essay writer platforms.
- Phishing: In the case of phishing, data leakage and failure of the technical work of the company happens due to human activity, e.g. clicking on the links in emails or ads on web pages. This kind of threat is the most popular nowadays due to the curious human nature and the peculiarities of the computerized world we live in: all of us have laptops, smartphones, tablets that we often use at work. We often read emails when having lunch or coffee, and can accidentally click on the scam link sent to our messengers or download a fraudulent app. These unconscious actions can cause your business computer and network security to fail.
Using the wi-fi connection with a lack of protection may cause damage to all technical equipment connected to it. Consequently, visiting random websites and pages is not advisable at work, especially if it is an open wi-fi spot. Failure to protect passwords and other human errors are other common causes of computer attacks.
DATA LEAKAGE COSTS A LOT
Researchers say that in the US, the leakage and misuse of data can cause a company up to $4 million, and two-thirds of this sum is lost during the first year after the case. As you might have guessed, the business loses this money in the form of investments, job losses, and profit. Hence, it is worth counting whether a startup can cope with such a hit and survive. Likely, it will not get through and come back on the market.
What you can do as an employee is refraining from clicking on random buttons, links, and ads while at work. Even if you have a break in your office cafeteria, do not use the corporate connection for your personal needs. Because the intention to google something for your leisure or study, like write my essay online, may cost you a job in the end.
CYBERSECURITY IS WORTH THE MONEY
Forewarned is forearmed when it comes to technical protection of your business and fighting existing software threats. Therefore, take your time to hire a cybersecurity specialist who will take care of your computers and laptops.
As a business owner, you have to be sure you have done all that's possible to secure your commercial data, your employees, and partners from online fraud. Get a firewall, a licensed version of antivirus, and train your team in cybersecurity basics.
All these small steps will save your money, time, and all effort you already put in the development of your firm.