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3 Reasons Why Cyber Security Is So Important For Your Business

Posted by Diana Hugh on Jun 20, 2019 10:54:15 AM

3 reasons cyber security is so important

Did you know that 43% of UK businesses suffered either a cyber-attack or breach during 2018? That statistic alone may well be enough for you to reconsider your company’s cybersecurity – but let’s dig a little deeper. After all, in today’s online world, more business-critical data is stored digitally than ever before. With that in mind, here are 3 reasons cybersecurity is so important in 2019 and beyond.

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Reason #1: Your Business Is The Custodian Of Your Customer’s Data

Since the introduction of the GDPR regulation in early 2018, there has been even more scrutiny surrounding the ways in which UK businesses handle their customer’s data. Consumers are now more aware than ever that they are granting companies access to their personal data, which could potentially be used for nefarious purposes. This has brought mass focus to every business’ responsibility to keep this data safe and secure by knowing how to secure networks from hackers. Along with large-scale initiatives like GDPR, individual security measures are now essential.


Reason #2: The Potentially Devastating Cost Of Network Security Breaches

Because cybersecurity is a somewhat nebulous area, it’s not always easy to pinpoint exactly what’s at stake for a business. To put it in financial terms, a 2018 “Cost of a Data Breach” study by IBM suggested that the average data breach can cost a business £2.95 million. For many UK businesses, this is enough to destroy the entire enterprise – sobering information, indeed. For this reason and many more, understanding how to prevent cyber security attacks is one of the best time investments any UK business can make in 2019. We know that some business owners might be tempted to think that their company is too small to be a target, but recent studies show that hackers specifically target SMBs and SMEs because they have valuable assets and what they deem to be less secure systems than larger Enterprise companies.


Reason #3: The Proliferation Of Network Entry Points Via Smart Devices

It’s impossible to ignore the rise of smart gadgets and the so-called “Internet of Things” (IoT). From voice-controlled apps on our mobile phones to the voice assistants that sit in our living rooms, there are now more internet-enabled items in our homes than ever. As the IoT grows larger, so too does the potential for a network breach. The reason? Well, each access point brings with it possible weaknesses which can be exploited by wily hackers who know how to take advantage. It’s no longer a stretch to suggest that a web-enabled fridge could lead to customer data loss. Knowing how to secure a business network is a powerful tool in combating the growth of the risk posed by the IoT.

When it comes to cyber security, UK businesses are clearly more vulnerable than ever. But by taking the right precautions and ensuring you abide by cyber security best practices you can keep your business on the right side of the firewall. User One can help you in all aspects of cyber security – call us today on 01945 463450.

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Topics: Cyber Security

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