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Why Is Business Cybersecurity Important?

Getting the correct business cybersecurity is an essential for companies of all sectors and sizes. With cybercrime becoming not only more frequent, but more sophisticated, it is crucial that businesses protect themselves.

Cybersecurity is a must for business growth, whether you need cybersecurity for a small business or a larger multinational; every business needs some degree of robust cybersecurity. It allows companies to focus on their day to day operations without having to waste precious time worrying about attacks. Freeing themselves from these threats also keeps their profits and reputation intact.

There is no better time for companies to start taking their business cybersecurity seriously, with cybercrime expected to cost $10.5 trillion in a year by 2025. Here are just some of the reasons why business cybersecurity is important. 

Cybercrime is on the rise

It is no secret that cybercrime is becoming increasingly frequent, with more than 80% of UK organisations suffering a successful attack during 2021-2022. As cybercrimes rise year on year, it is more important than ever for companies to start protecting themselves. From money-motivated attacks to large-scale data breaches, cybercrimes are happening more and more each year.

More sophisticated attacks

Not only is cybercrime becoming more frequent, the attacks are also becoming increasingly sophisticated (find out more at NCSC here). Although Internet of Things (IoT) technology has been a god-send for multiple companies, enabling them to simplify their processes, it has also become a prime opportunity for cybercriminals.

IoT devices come with multiple types of sensors and rely on advanced technology to facilitate data sharing and constant connectivity. As a result, they present multiple entry points for data breaches. These must be managed in order to prevent attacks.

Technology is playing more of a role in cyberattacks as companies become more dependent on tech for their day to day business operations. With companies using cloud services, serverless computing, edge computing and API services, tech-savvy cybercriminals are in their element when it comes to planning elaborate and sophisticated hacks.

Ransomware is evolving

One of the most dangerous cybersecurity risks is ransomware as it is not solely a way for cybercriminals to gain a huge profit, they also have the potential to destroy a company’s reputation if they cannot pay. Ransomware is the name of the software behind cyber extortion – where cybercriminals can hold your data or device for ransom.

Anyone is at risk of a ransomware attack although these cybercriminals often target small businesses because they have fewer security measures implemented. It is reported that 25% of businesses do not reopen after suffering one of these disasters, emphasising the importance of taking cybersecurity seriously.

How can businesses protect themselves?

Cybersecurity has the potential to affect every kind of business so it is crucial that business owners keep their information safe from hackers and help themselves to avoid falling for financial scams and others.

One of the ways that businesses can protect themselves is to install anti-malware and antivirus protections, and make sure that this protection is up to date. Advanced cyberprotection solutions can help companies benefit from real-time protection which covers them for anti-malware, antivirus and anti-ransomware protection.

Companies should also have a backup and disaster recovery in place to cover them for unexpected cybersecurity incidents. Certain cyber protection can provide a backup of all company data meaning that all files and images of your system are duplicated and protected. This can ensure that your files are available, even if you face cyberthreats.

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