enterprisesecuritymag

Why Startups need to Give More Importance to Cybersecurity?

By Enterprise Security Magazine | Monday, September 23, 2019

In the modern business world, companies are using mobile devices for their work, which has made it essential to secure the organization's online assets. The startup companies may not be able to afford hiring cybersecurity experts but can use tools like VPN solutions to protect the data.

FREMONT, CA: Most of the startups are trying to save their fund by not giving much importance to their online security system as they are confident that hackers are interested in small companies. But the truth is, anybody can become the victim of cybercrime. When a hacker tries to attack on a massive scale, they hit as many companies as they can, irrespective of big or small, hoping that at least some will generate a return. Startups are attractive targets for cybercriminals because they are mostly not well protected. 

The big corporations might take some time to recover from cyber attack, but smaller enterprises may not even survive the disastrous outcome of it. In the past few years, many companies have been attacked by hackers, and among them, many organizations were destroyed, and were forced to shut down. The hackers do not care about the size of the organization; they only think about the assets they can collect. According to a recent study, mobile cybercrime is mainly growing with an equal amount of attack on both small and large businesses. 

A Cyber Attack can Destroy a Startup

Startups are incredibly fragile, and to gain success and grow into a stable organization, a lot has to be taken care of and calculated. The principal limitations of startups are their budget, as they are rather low, and every penny has to be spent wisely.

If an employee's phone get attacked with phishing and the hacker finds the login credentials of a leading company account, then they will not hesitate to steal money, which makes multi-factor authentication a valuable service.

Attracting Employees will become Difficult

People are starting to get aware of the importance of their online security and privacy. Many people use VPN services for both computer and mobile devices so that they can tighten security. The VPN application is loaded with robust security features, and it provides firewall protection, authorization, encryption, and authentication.

When the potential employees learn that the work environment is unsafe, and their data is at stake, they will be reluctant to work in the company. Making the employees comfortable is essential because as a startup, it is already difficult to attract employees and if they feel unsafe while using their devices in the office, it will be a massive drawback for the company.

Customers may be Reluctant to Work

If the network of a startup company is unsafe and people outside the organization such as potential customers and customers find out about it, they will not extend their connection with the company. If the network is not secure, the company will be responsible for the security of the money and personal data of its clients for putting it in danger. 

Clients will also doubt while committing to do business with a company if they know they can experience a problem at any given moment due to their lack of cybersecurity. Customers will also not trust the organization with their personal information if they get to know that it can be violated, and the details will be leaked. 

Company's Credibility is at Stake

All the businesses are under the watchful eye of the general public. Businesses that have existed in the market for a long time have proved everybody that they are professional, reliable, and have established a brand presence of their own.

But when a startup is formed, all eyes are on them, since they are unknown and people might think that they cannot rely on them. When people are unsure about a company, it is their responsibility to put in special efforts to build a reputation, and it is not possible to do without securing the data.

There also Many Other Things to Attract Employees

A startup has to deal with many other things, such as new clients and projects other than just cyberattacks. Someone starting a business always has to focus on making the right decision that will get them better employees, products, marketing strategies, customers, and services. 

Besides, all of the work has to be done with minimal resources. New companies have to take necessary steps to secure the connected device like mobile and computers to make sure they do not create any significant issue. 

The Cyber Security Tactics that can be used

Sometimes huge corporations become a victim of the cybercriminals and cannot survive the blow, it is quite unusual for small businesses to endure a cyber attack. In fact, unlike big companies, small businesses have a limited and smaller budget, which gives them a limited amount to invest in security services. However, here are some tactics that small companies can apply to their limited budget.

Start managing and limiting access to the company's accounts and systems.
Try investing in a security-as-a-service while the necessities are still of SME-grade.
Use the essential cybersecurity tools such as encryption firewalls.
Educate the employees with the help of proper cybersecurity training.
As an alternative, also employ an in-house team and start building protocols.
Most importantly, keep the traffic anonymous with a Virtual Private Network (VPN).

 

A company must not make the mistake of thinking that they are too small and insignificant that the online criminals will not attack them. The sooner the organization invests in cybersecurity, the better it will be for the security of the company, employees, and its clients. 

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