Article -> Article Details
Title | The Path to Success: The Importance of Preventing Cybersecurity Threats for Small Businesses |
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Category | Computers --> Security |
Meta Keywords | cybersecurity coe, centre of excellence hyderabad, cyber security hyderabad, cyber security telangana, Cybersecurity Incubation centre, Cybersecurity Academia and R&D Centres, cloud computing vs cyber security, cyber security challenges in india |
Owner | Cybersecurity |
Description | |
Technology has transformed how the world functions and business operations are no exception. From accounting to marketing, promotions and sales, the technological revolution has touched every sphere of the business world. Cyber-threats are a genuine concern and are becoming increasingly advanced in the way they operate. While most big and established companies have the right security checks in place to counter threats such as malware and data breaches, cybersecurity threats are higher for small businesses due to limited resources thus, rendering them more susceptible. In this blog, we will discuss the importance of prevention of cybersecurity threats for small businesses and will provide best privacy practices that SMEs can adopt to protect themselves. The Need for Small Businesses in India To Adopt Cybersecurity MeasuresAs per a CyberPeace Foundation’s report, of all cyberattacks, 43% target small businesses, and SME startups. Moreover, nearly 46% of SMEs had no clue about managing cyber risks. About 60% of such small enterprises that turn victims of cybercrime go out of business within six months. India is eyeing a 5 trillion dollar economy and SMEs play a significant role in achieving this. All businesses should be cognizant of the common threats lingering in cyberspace and should plan an effective strategy to counter such attacks. Common Cybersecurity Threats for Small BusinessesPreventing cybersecurity threats should be a key area that small businesses should focus on since the lack of the correct security measures can cost a business a great deal and might even turn out to be fatal. Here is a list of some common cybersecurity threats that especially plague the SMEs-
Best Cybersecurity Practices for Small BusinessesStarting out a successful business is a mammoth task and so small enterprises cannot afford to lose out on growth due to cyber attacks. Robust measures need to be in place to prevent small businesses from cybersecurity threats.
Way ForwardAs per IBEFs numbers, there are about 633.9 lakh MSMEs in India (Oct, 2022). 91% pf small business enterprises do not have cyber liability insurance and about 60% of small enterprises that turn victims of cybercrime go out of business within six months. (Cyberpeace Foundation Report). With time, the cyber space is only going to get more riddled with new cyber threats. It is good practice for businesses to stay on their feet and keep their cybersecurity practices in check. We at the Cybersecurity Centre of Excellence strongly believe that cybersecurity practices are crucial for not just preventing compromised privacy but also helping your business grow faster. Regular checks cyber checks should be carried out around the year to stay updated with the latest cyber threats and plan the right prevention strategies. As discussed, there are many common cybersecurity threats for small businesses alike but cyber policies should be in tune with the specific industry and niche a business operates in. Learn more about creating an effective cybersecurity strategy, here. |