Why You Need to Think About Security When Building a Business

Having your own business is a big responsibility and a massive step that takes a lot of time, energy, and effort to build. There are many threats to every business’s security, no matter how big a company is.

Entrepreneurs usually consider security measures to physically protect their business from potential burglaries and damage, such as CCTV cameras in buildings as well as restricted authorization to visitors. However, protecting your business goes way beyond the physical protection of buildings and property. Especially nowadays, most confidential data is digitally stored and the imminent cyber threats continue to be real and on the rise, and pose a serious risk to your business.

If you have your own business or are in the process of building it, it is imperative to consider security, particularly when it comes to information technology (IT). In this article, we will advise you why you need to think about security when building a business.

What Types Of Business Data Need To Be Kept Safely And Securely?

As discussed above, the vast majority of data held by businesses is stored and managed online, on laptops, software systems, and email accounts. This makes it easily accessible and simple to share with appropriate parties, although it also makes it easier for viruses to destroy data, for cybercriminals to gain access to this or for data to be lost.

Loss of data can create serious issues for your business, as others can find out information about your finances, passwords, employee documents, or any highly sensitive and official information that you do not want random individuals to find out. 

Why is Security Important?

The Number of Cyberattacks is Growing

The use of technology has greatly facilitated individuals and businesses and has improved the way we communicate and share information. However, this has also created an opportunity for cybercriminals to target businesses, particularly small ones, who have lower security strategies in place.

Statistics show that these attacks on companies are significantly increasing as offenders become more knowledgeable and sophisticated. For this reason, it is imperative to have strong data security in place in order to ensure your business and assets remain protected and safe.

The Majority of Businesses Don’t Survive a Cyberattack

Losing data due to software issues or getting it stolen by cybercriminals poses serious risks to your business as a whole – your reputation can get seriously tarnished resulting in loss of clients and financial income. You can lose a lot of money as a result of a cyberattack and may be required to pay additional costs such as credit monitoring or associated legal fees. Small businesses usually invest less in security and are therefore the main targets for cyberattacks. 

As a result, they suffer greatly and do not have the financial means to recover, meaning that most small companies will go out of business in less than six months. If you want to prevent this, you must ensure to obtain managed IT services so that experts can assess your security and advise you of the best security practice and measures to put into place. Doing this is vital if you want to ensure that your business flourishes and does not become a victim of cyberattacks.

How to Protect Your Business

1. Managing Risk

Generate a list of your possessions and consider the potential menaces to your business these could face in case they get lost or are broken into. A few examples of common assets that must be pondered for security comprise laptops, smartphones, and physical data. You can categorize these by significance and choose upon what procedures must be put into place to diminish and prevent the risk of loss.

2. Know What Intellectual Property You Have

Prior to selecting what strategies to develop to safeguard sensitive data, you will need to contemplate disregarded areas where data is kept but have a tendency to be overlooked and neglected.

A few of these include printers and fax machines, which are normally linked to remote administration systems. Moreover, the use of cloud applications by staff may also put your data in jeopardy – make sure you are aware of what your employees use so that these are efficiently constructed and secure to use.

3. Label Valuable Intellectual Property

Making others aware that certain data is sensitive and confidential is vital so that everyone knows how to handle it correctly. You do not want data to be mishandled due to an individual’s negligence and lack of awareness. Make sure you add labels to warn other people, including on digital information.

This may not seem like something necessary but if you find yourself in court struggling to attest you were a target of cyber theft as somebody robbed data they did not have consent to take, your argument will not stand if you are unable to prove that the individual was aware that the information in question was confidential and secure.

4. Secure Your Intellectual Property, Both Physically And Digitally

Having sensitive information means that no one, other than you and others who strictly need it, should have access to this. There are basic approaches you can take to achieve this such as locking physical information away, not leaving data on display where visitors can easily view it.

For digital data, make sure that any technological devices are secure and installed with anti-malware software and have screen protectors so that passers cannot read any information.

5. Preventing Viruses

Technological devices are highly vulnerable to getting a virus, particularly when they do not have adequate anti-virus software installed. Digital viruses often find their way to devices through attachments sent via emails or utilizing unofficial portable instruments such as USBs.

To lessen this possibility, certify you use appropriate anti-virus software and activate a firewall so that you develop a system resistant to viruses and malware.

6. Educate Employees About Intellectual Property

Many times, employees strictly focus on their jobs and they may not be completely aware of the importance of handling sensitive data. A few common examples include staff members taking sensitive data to their home or use it in a public place, where anyone can easily access it.

In order to remain secure as a business, you will want your employees to be fully aware of security measures and the consequences of breaching this for the business in general as well as for themselves as individuals. Provide everyone with appropriate training and put security policies in place so that everyone follows the same steps to maintain high levels of security. 

If you have your own business, no matter how big or small it is, thinking about security is a requirement. Not having security in place allows for cyberattacks to take place as well as for employees to breach data conditions through unawareness. Breach and loss of confidential data can have serious impacts on your clients and on your business in general. Make sure that you follow some of the tips above in order to increase the levels of security and enjoy the growth of your business. 

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