Today’s small businesses are more vulnerable than ever. Fraudsters are becoming increasingly sophisticated when it comes to cybersecurity. As a result, small business stakeholders need to balance growing their business with combating cybercrime and business identity theft.
Employees wear many hats in a small business. These include everything from balancing daily concerns of security, inventory, suppliers, and payroll to delivering high quality products. Through it all, the small business must be able to provide an exceptional customer experience.
Your customers and employees are undoubtedly your most valuable business assets. Customer records allow your small business to provide better or more customized services to consumers. However, all it takes is unauthorized access to one customer’s name. Seemingly harmless information, such as a rewards number, can open the door to identity theft.
What about your employees? They are the engine that allows your business to stay up and running. However, employees can also, inadvertently, be your weakest link in keeping your small business secure. Employees are more susceptible today to phishing attacks and malware on desktop and mobile devices. All it takes is one employee to click on a malicious link. Suddenly, a criminal is able to penetrate your network. They may access employee files, W-2 forms, confidential and proprietary business information. In fact, 60% of small business breaches are caused by employee negligence.
A small business is legally responsible for protecting its data. It’s hard to be an expert in every aspect of small business management. In other words, many entrepreneurs don’t have the time or the resources to become cybersecurity experts.
Small businesses , unfortunately, face a multitude of threats. They are in the cross-hairs of cyber criminals who see them as easier and more profitable targets. Studies have shown that 43% of cyber attacks target small businesses. Small businesses suffer disproportionately than their larger counterparts. That is to say, this is often due to their inexperience in preparing for and responding to these threats. Most small businesses lack the necessary time, money, and expertise to protect their businesses.
Any type of cyber threat puts your business at risk. For example, let’s consider a data breach. This can cost a business an average of $152 per compromised record, typically in the form of indirect costs. These expenses may include lost productivity and customer churn.
What else happens during a data breach? Above all, this can equate to financial ruin for a small business. If entrepreneurs aren’t careful, they could find themselves rebuilding the business and its relationships all over again.
It’s clear that no business – no matter its size – is immune from a cyberattack. However, you can take steps to protect your business by assessing your company’s cybersecurity risk, improving overall security behavior and ensuring that you are implementing the right solutions.
Introducing MyCorporation Small Business Suite powered by EZShield designed to help small businesses combat cyber threats and identity theft. Further, here’s what is included in this service:
In addition, EZShield’s Small Business Suite includes access to an innovative set of mobile cybersecurity capabilities through its Mobile Defense Suite.
You are an expert in your business. However, you don’t have to be an expert in cybersecurity issues and how best to protect your company from fraud and data breaches.
MyCorporation is pleased to partner with EZShield and introduce an easy to deploy and affordable Small Business Suite. You will receive this offering for FREE when you incorporate or form an LLC with us! Further, this empowers your business and your employees with ID theft and cyber threat protection. Likewise, you’ll also gain access to a team of experts who stand ready to assist you when you need it the most, leaving you to focus on what you do best.
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Very useful information, thanks. An important role is also played by employee training so that potential attacks on the IT systems of your enterprise can be timely prevented. Trainings for employees can be carried out on their own, for example, with the help of the IT department, and attracting IT consultants. Recently, it has become popular to organize hackathons - intensive 48-hour marathons devoted to security and IT topics. In the formation of the internal culture of a start-up enterprise, the support of management is very important - if security is important for the leader, it will be important for employees. Be vigilant, invest in your security and shape an enterprise culture in which cybersecurity is a value. Good luck!