Why You Need To Take Cyber Security Seriously

Cybercriminals aren’t going away, so here’s what you need to know to start defending your business.

Breaking news: Customer data exposed in cybersecurity scandal...

A headline that’s becoming far too familiar, but with every headline comes with it damaged reputation and revenue. And no matter the size of your company, any business is a potential victim of cyber threats and data breaches.

Here’s where becoming cyber compliant can help – and this doesn’t have to be as complicated as it may sound.

What does this mean?

As a business owner, you’ll have all sorts of tasks on your to do list that contribute to you becoming cybersecurity compliant.

But what does this really mean? Simply put, it’s about making sure your business, customer and employee data is secure, while making sure you comply with European standards, such as ISO 27001. You can read more about this here.

Why do I need it?

Business is the backbone of the European economy and according to enisa, small to medium businesses make up 99% of all companies on the continent. But did you know 57% would likely go bankrupt or go out of business if they faced a cybersecurity issue? And that doesn’t even take into account the potential fines you could face by not meeting the requirements. 

So, following security requirements won’t only reduce the risk of a data breach, but it’ll also help you avoid the costs that come from responding to an incident – as well as long-lasting impact, like reputational damage and reduced sales.

How can I become compliant?

While the requirements may vary country to country, there are a few ways to stop your business’ information falling into the wrong hands:
 

1. Checking regulations

The first step would be to pick out which regulations apply to you based on your industry and the type of data you handle. In some cases, it might make sense to speak with a qualified professional. Our V-Hub Digital Advisors can offer free one-to-one guidance and support to help you get started.  

2. Running a risk assessment

Secondly, almost all country requirements will ask you to conduct a risk assessment, which will help you spot the most critical security flaws. And highlighting these will help show you the areas that need the most attention, as well as showing you how effective the procedures you have in place already are.

3. Getting the right tech

There are budget-friendly technologies that can help protect your business. Antivirus software, for example, is included in most operating systems and should be installed on all office equipment. And you should also make sure all your equipment is up to date and protected against malware from infecting your devices.

4. Making the most of free security tools

Your laptops, computers and smartphones will hold a lot of secure business data, but they will hold customer information too. It’s essential that you’re able to access this easily, but it also needs to be completely secure. Setting up strong passwords and a two-step verification process are free, easy and effective ways to prevent cybercriminals from accessing this information.

5. Training

Having the right technology alone can’t guarantee data security. That's why training is critical. Whether you employ 5 or 50 people, employees, as a minimum, should all understand the different types of data they handle, and be trained on the different threats to defend against. Training is consistently one of the best ways to protect your business and will train your team on what to do if there’s a data breach. 

Cybercriminals are relentless, so as your business starts to rely on more digital sources, you need to focus on becoming cybersecure. Not only to protect your business and customers, but to follow cybersecurity compliance regulations too.

Almost every business has the potential to be exploited by cybercriminals. Read our 7 tips to make your business more cybersecure.

Cyberattacks aren’t going anywhere, but there’s so much you can do to be proactive and protect your business – and our V-Hub Digital Advisers are on hand to help.