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Contributor Columns on Information Technology and Security

5 Reasons Why Your Business Needs To Spend On Cyber Security

There is a lot of hard work that goes into running any business. And if you are a new business owner, trying to help a new startup business to transition from spending money to making money is one of the toughest things that you will ever do. As such, it can be difficult to decide just where you should be spending money, and where you could cut back. One place where it does not pay to go without is when it comes to cyber security. Here are five reasons why.

There is a lot of hard work that goes into running any business. And if you are a new business owner, trying to help a new startup business to transition from spending money to making money is one of the toughest things that you will ever do. As such, it can be difficult to decide just where you should be spending money, and where you could cut back. One place where it does not pay to go without is when it comes to cyber security. And here are five reasons why.

1. Cyber Crime Poses a Bigger Risk than Ever Before

You only have to read the news to know the sad truth of this statement. High profile cyber attacks against government agencies and big companies like Target, as well as the recently discovered and exploited Heartbleed bug, are proof enough that cyber crime is one of the biggest threats facing businesses today.

2. Cyber Crime Affects Businesses, Both Big and Small

And just because you are a small business, does not mean that you can fly under the radar. The big businesses who fall victim to cyber crime may draw the headlines, but small businesses are perhaps even more vulnerable, and there are a worrying number of them who do not place significant importance on protecting their digital assets. At least half of the confirmed data breaches in 2012 were at businesses with fewer than 100 workers.

3. It is an Investment that Will Save You Money in the Long Run

Paying for cyber security might seem like a nonessential cost right now, but if your business came under attack, you would be the first to realize that it would have been money well spent. The costs of a security breach can be catastrophic on a company. A big company with a strong brand like Target’s might be able to recover, but a small startup is far less likely to.

4. Building a Brand and Clients

Speaking of your brand, being able to build trust is an essential aspect of any company. You want to be able to assure your clients and customers that their information is safe in your hands, and it will help to create and keep solid relationships if you can. For a small business, trust is everything.

5. You Can’t Afford Not To

You wouldn’t dream of leaving your office unprotected, or sharing your clients’ information with the highest bidder; but if you are not securing your data, that is close to what you are actually doing. Cyber criminals are getting smarter and more evolved than ever before, and any business that doesn’t take this threat seriously will certainly live to regret it.

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