How secure is your small business?
The devastating effects of cyber breaches on SMBs are well-documented. More than 446 million records got exposed in over 1,200 data breaches within the SMB space in 2018. At the same time, over half of the small businesses that experience a successful cyberattack go out of business within the next year.
Cost of a Data Breach 2019, a study sponsored by IBM Security and conducted by the Ponemon Institute, dives deeper into the subject. The report analyzes data breach costs reported by over 500 organizations in 17 industries across the globe. The report contained some unsurprisingly disturbing findings.
- The average worldwide data breach costs $3.9 million.
- U.S. data breaches cost an average of $8.2 million, the highest total in the world.
- Healthcare remains the most expensive industry, with average data breach costs of $6.45 million.
- A typical data breach involves over 25,000 records.
Meanwhile, the adverse effects of a cyber breach become magnified for startup companies. With 472 million entrepreneurs trying to start a business each year, it’s hard enough to get a startup off the ground. Concerns about network security and data protection often get pushed aside until it’s too late.
In the following article from writer and entrepreneur Ryan Robinson, you get expert entrepreneur advice from Ajay Goel, founder of GMass, and Ashley Leonard, CEO of Cloud Management Suite. Both Goel and Leonard managed to build multiple companies from the ground up. They offer four tips to accelerate the growth of your startup business while remaining safe and secure.
Goel and Leonard offer commonsense advice like “Stay Personally Invested” and “Fine-Tune Your Value Proposition.” However, they also advise entrepreneurs to “Stay on Top of Security.”
At Capital Network Solutions, we possess the tools and expertise to defend small businesses and startups. Our cyber security and network solutions guard your perimeter, while our security awareness training services turn your employees into human firewalls. If you’re concerned about the cyber security posture of your business, call CNS at (916) 366-6566.
In the meantime, check out the following Forbes article about growing a successful startup business.