What are the effects of a cyber attack? There are big effects that a cyber attack can have on a business:
Finance
The financial burden of your company’s technology is drastically affected by the damage caused by cyber attacks. Whether it’s a ransomware attack or the theft of financial information, the fallout can result in monetary losses, legal complications, and damage to the business’s reputation.
Customer Trust
Along with the business’s reputation comes customer trust. Customers trust small businesses with their information. A cyber attack will not only jeopardize this trust, but it will most likely lead to the loss of present and future clients.
Time spent of recovery
Cyber attacks affect daily operations causing more time to be spent on trying to remediate the cyber incident. This causes businesses to focus on the recovery process and limits the time that should be focused on growth and improvement within the business.
Implementing cybersecurity in a small business combats these issues providing various upsides to the business as a whole. Cybersecurity is an investment similar to insurance. Would you operate your business without insurance on your investment? The answer for most business owners is absolutely not, never would I operate without insurance. Therefore, is it worth operating your business with our Cyber security? Showing customers that the business they are working with has cybersecurity demonstrates a commitment. A commitment to protect their data, maintain loyalty, and build a positive brand image. Having cybersecurity within a business allows customers to know that their personal and financial data is protected with a backup method that provides a peace of mind that their data will not fall into the wrong hands.