You may ask yourself however, is it a pressing issue and are you at risk?

This is a valid question that merits data from reputable sources. According to Mordor Intelligence (2020) the global damage done by cybercrimes equate to 0.8% of the World’s GDP each year which equates to 600 Billion per year. Considering this enormous figure it is safe to say that this is a serious and pressing issue. In 2019, a 78% increase in supply chain cyberattacks, and a 48% increase in attacks involving malicious email attachments via Office files have been recorded. (Symantec, 2019). Another interesting data is that Google detected more than 2 million phishing sites in 2020 (TechRadar, 2020). To be influenced and affected by phishing attacks is a clear cut sign that some employees or even executives don't know how to deal with cyber threats.

Despite these overwhelming and apparent shifting in security issues and necessities in the digitalscape, only 55% of business executives plan to increase their budgets for cybersecurity in 2021 (Forbes, 2020). Now we see what the problem is but still there is not enough movement from executives.

What It Means For Small Businesses and You

The apparent increase in vulnerability of small businesses can be seen not only as a threat but also an opportunity to stay ahead of competition. As business integrity and fortitude in the face of attack is a business quality both investors and consumers look for.

Securing Your Business

What can you do to be more secure and avoid revenue loss as well as consumer inconvenience by cyber attacks to your business?

Before it happens, prepare! As prevention is better than cure, the proactive approach to things like cybersecurity will always be superior. Considering and acknowledging vulnerabilities within your business technical side is a giant first step towards the right direction. Acquiring the proper technology needed to protect your business. Increasing visibility to easily identify technological blindspots.

Securing the business yourself can only get you so far that’s why it is also important to consult and get help from professionals. Professionals such as those working in GTDC.io might be a good option for you - a small business owner wanting to be informed and secured. From offers of web development to securing data drives to setting up computer system security and finally an option of conducting technology related workshops that may be used to educate the staff and employees that you see are vulnerable to attacks in cyberspace that may cost you in the long run. 

As final words in this topic, it may seem like an empty investment now but due the sheer potential of cyber attacks to disrupt business and the seemingly unending increase in the scale and magnitude of resources poured into it year by year this will not only turn out to be a great investment but also insurance in protecting and letting your business flourish so what are you still waiting for? Know, Acknowledge, Protect, contact a Professional and set up your business for security and success.