Cyber-attacks and Its consequences on your Small Business

Cyber-attacks - cfamedia

As a small business owner, you have to add Cyber-attack prevention, to your business plan. The threats are growing daily and many small businesses are being targeted.

Cyber-attacks against big businesses are, also, often publicized and little attention is usually paid to small businesses.

This gives small businesses a sense of vulnerability than the larger businesses because they lack the financial muscle, to fund online security of their businesses.

Variations Of Cyber-Attack

Cyber-attacks may be due to the introduction of viruses, malware, activities of hackers, other sources, which may include insiders or outsiders.

Below are some of the reasons, why you should prevent cyber-attacks on your small business:

Loss of Information: A virus infection can make you lose important data, which will make you start sifting through old invoices, which will be time-consuming and by this time the data may not be accurate anymore, as you might have misplaced some records.

Loss of Profit: A denial of your customers, having access to your computer services, or, your site shut down for days, will make you lose your income for those days that you were inactive. This may cause your customers to patronize your competitors at your expense.

Privacy Lawsuits: A cyber-criminal, might steal information that belongs to your clients from your website and your clients may decide to sue you for, publicly displaying their personal information.

Blackmail: A hacker gets sensitive information from you and threatens to make them public, if you do not pay them some amount of money, to keep them from publishing such information.

Damage your Reputation: Activities of cyber-attackers can damage the integrity of your company, which, automatically, affects your own personality.

Potential clients, who were interested in doing business with you, might change their minds, as they may feel that you are careless with information.

This may obstruct prospective clients from striking a deal with your venture.

It is important that you have a cyber-security policy in place and make sure that, you educate your staff about cyber-attacks and how to prevent these.

You can also read our post on improving cybersecurity consciousness to get more hold on ensuring online security.