Why Do Small Businesses and Startups Need Cybersecurity ?

Protecting data when a company is still in the startup phase can be quite a challenge. Not everyone in the company may understand how essential a cybersecurity policy is or what types of data need to be protected. There may also be limited resources available to focus on cybersecurity issues. That’s why many cybercriminals like to target small businesses and startups.

Unfortunately, many startups don’t start thinking about putting a cybersecurity policy in place until after a breach has occurred. Failing to take the proper precautions can have devastating financial consequences. According to research by cyber-insurance firm Hiscox, the mean cost of a data breach in 2019 was just under $200,000, with small firms usually losing around $9,000 per reported incident. Considering that the Ponemon Institute’s 2020 Data Breach Report found that the average data breach takes about 280 days to identify and contain, having the right policies and controls in place to avoid these incidents is critical.


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