Why is Cybersecurity Important For Small Businesses?

While staying in Calgary, we are no more restricted to this city only. We understand that technology is connecting all of us so well that we are connected to the whole world. We can’t even imagine a part of the world without it. We are so well connected through global connectivity and cloud services, like Web services and Amazon, that it seems a challenge to store our personal information and sensitive data. 

Cyber Security is becoming the need of the hour because it protects all categories of data against damage and theft. Without cybersecurity, your organization can’t stop cybercriminals from breaching your data. Both residual risks and inherent risks are increasing owing to the use of cloud services. Let’s have an overview of why cyber security is important for small businesses in Calgary.

Role Of Cyber Security 

As data breaches are on the rise in Calgary, it’s not surprising to find out that not only big organizations but also small businesses also need cybersecurity. Cyber threats come from every level of an organization. Therefore, it’s better to be safe than sorry and start educating staff about common cyber threats. These include everything like social engineering scams, malware designed to steal personal data, and phishing ransomware attacks.

Before we go into the details of how important cybersecurity is for small businesses in Calgary, let’s see what exactly cybersecurity is.

What is Cyber Security for Small Businesses in Calgary?

The process of protecting and recovering your computer systems, networks, devices, and programs from all types of cyberattacks is called cybersecurity. It is a fact that the world is increasingly relying on technology, and this will continue as the next generations of technology introduce themselves.

So, the latest technology will have access to all our devices through Wi-Fi or Bluetooth.

In Calgary, the challenge for small business is how to protect customer data while embracing new technology. For that, we need smart cloud security solutions with strong password policies, such as multi-factor authentication access.

This serves the purpose of ringing the alarm of any malware trying to breach data to the knowledge of authorities so they can stop it there and then. This one of the solution for Calgary business owners to adopt.

What Makes Cybersecurity That  Important?

Calgary is advancing each passing day, our reliance on technology seems to increase, and this doesn’t appear to reverse in the future. That’s why at present we need cybersecurity more than ever before, and this dependence will rise with new challenges in the future. Any data leaks that could lead to identity theft are now posted on social media accounts. We are more data breach prone owing to the sharing of sensitive information like social security numbers, credit card information, and bank account details on cloud storage services like Google Drive and Dropbox.

As a matter of fact, whether you are an individual, a small business, or a large multinational in Calgary, you are dependent on computer systems every day. Also, the rise in the use of smartphones and the Internet of Things, paired with poor cloud service security, make the situation more vulnerable.

Why Are Cybercrimes On The Rise in Calgary?

The most expensive and fastest growing segments of cybercrimes involve information theft.

The reason is the increasing exposure of identity information to the web through cloud services.

Besides identity theft, cyber attacks may aim to affect data integrity.

Either by destroying or altering data to spread distrust in an organization.

With time, cybercriminals in Calgary are getting more sophisticated, changing the ways they attack different security systems.

The factors resulting in a rise in cybercrime are given below:

• Data breaches can expose financial information like bank account details, credit card numbers, trade secrets, etc.
• Unintentional information leakages such as cloud leaks or data spills.
• Increased use of mobile devices and the Internet of Things.
• Increasing profitability on the dark web. According to an estimate, the cost of cybercrime for an organization has increased by $1.4 million over the last year to $13 million.

How To Protect Small Businesses Against Cybercrimes in Calgary

Some simple steps can save your organization from cybercrimes by improving your online security in Calgary, such as:

1. Educating staff: Human error is the biggest factor contributing to data breaches. However, statistics show that if your staff is trained enough to identify cyber threats and correctly respond to them, the majority of data breach incidents could be avoided. Businesses in Calgary should invest in such educational programs as they could prevent staff from unknowingly bypassing expensive security controls to facilitate cybercrimes.
2. Protecting sensitive data: It’s wise to invest in tools that reduce the risk of information leaks to third-party and fourth-party vendors. It’s important to implement a data leak discovery solution that monitors data leaks throughout the third-party network. By shutting down vendor data leaks, almost 60% of data breach accidents could be prevented.
3. Having data breach prevention instruments: By ensuring employees scrutinize intrusion detection tools, a cyber breach can be stopped. If a breach happens, the company gets informed immediately
4. Updating safety software frequently: Regularly maintaining safety software keeps it updated and effective on the one hand, while reducing the chances of letting cybercriminals get familiar with it.
5. Devising a data infringement plan: Pre-emptive planning always pays off if a data breach happens. It usually encompasses a well-defined protocol defining which employees are part of the incident response team and their functions and responsibilities.
6. Having insurance coverage: Cyber insurance for your business usually covers expenses associated with data breaches. A suitable insurance program also offers access to qualified professionals who handle the event from beginning to end.

Does Your Business in Calgary Have Cyber Security Threats?

If you want to get your business based in Calgary covered for cybercrimes, we can help you protect it from data breaches. We offer a comprehensive range of IT services in Calgary, Canada  for all sizes of businesses. We can help you strengthen your network security by continuously monitoring all of your vendors. We also offer third party data leak protection to facilitate rapid security program scaling.

Wrapping It Up

The importance of cybersecurity can’t be denied in businesses, whether big or small. Besides, with expanding cutting-edge technology, businesses and their customers are more vulnerable to cyber threats like phishing, fraud, and hacking. However, strong small businesses’ cyber security enables functions like website browsing and monetary transactions to work safely. Invest in your cyber security today to shield it from cybercrimes in Calgary.