The importance of cyber security in today’s digital age cannot be argued with, regardless of business size or company. It is, however, known that small businesses are, on average, at a higher risk of falling victim to cyber attacks due to limited budgets, lack of resources and less secure business infrastructure.
The National Cyber Security Centre predicts that there is a 50% chance that small businesses will experience a cyber attack or breach in their lifetime. This is why it is important that you take precautions with cyber security training for small businesses. This is one of the best ways to protect yourself, employees and your business from cyber attacks or breaches and help to keep data, finances and reputation secure. Let’s take a look at 3 reasons why cyber security training for small businesses is important in our latest CYFOR Secure blog.
Learn How To Keep Sensitive Information Secure
Just like any business, small businesses handle a significant amount of sensitive data, including customer data, financial records and confidential business information. Customer data is important to keep protected as it can include credit card information or other personally identifiable information which, if in the wrong hands, can be used to commit fraud.
As part of your cyber security for small businesses, you should be aware of just how valuable this information is to cyber criminals and why exactly this makes small businesses a target when it comes to cyber attacks. With cyber security training for small businesses, you can learn how to identify potential threats to sensitive information and understand more about how to keep this data protected, such as the importance of strong passwords, signs of phishing scams and device security.
Increase Cyber Security Awareness
Undergoing cyber security training for small businesses can help your employees to identify and recognise signs of potential threats, such as malware and phishing scams. With cyber security training, employees can soon learn how to recognise suspicious emails, spot the signs of harmful links or attachments and help your small business reduce the risk of falling victim to a cyber attack.
At CYFOR Secure, we can provide phishing simulation services so that you can identify any weaknesses within your employee’s knowledge or awareness when it comes to spotting phishing attempts and this can prove a helpful learning tool when looking at cyber security training for your small business.
Avoid Paying Regulatory Fines
If your business isn’t well protected against cyber attacks or in the event that your business does fall victim and doesn’t inform clients or customers, then your business risks facing a fine. In the UK, the ICO is the regulatory body for data protection and information security. Under British legislation, they have the power to issue fines to businesses that fail to comply with data protection legislation or who don’t do enough to prevent cyber attacks.
If found to be in breach, then the fines can be severe. In Europe, the maximum fine that is payable is £20,000,00, or alternatively, it can be 4% of your annual turnover (not including profit). In 2020, British Airways were fined £20,000,000 following a large data breach, so this shows that no business is exempt. For small businesses, the fine is unlikely to be this much, but you are just as likely to be fined. This is one of the most important reasons why, from a financial perspective, you consider cyber security training for your small business.
Build and Maintain Customer Trust
Small businesses, more so than larger companies, are reliant upon customer trust as a way of building their reputation and growing their business. The event of a cyber security breach can significantly impact on customer trust and, in turn, can result in lost customers and revenue. Undergoing cyber security training for small businesses can help you to gain and build on that trust, plus you can show clients and customers that you are taking data protection seriously.
Cyber Security Training: Conclusion
Cyber security training for small businesses is essential if you want to ensure that sensitive data is protected and that overall risks and costs are minimised. By investing in cyber security training for your small business, you can be confident that your employees have the skills and knowledge required to spot and identify cyber threats, protecting your business. Here at CYFOR Secure, we can provide comprehensive cyber security training, bespoke to your business, to ensure that the delivered information is relevant to keeping your company safe.
With an increase in the frequency of cyber attacks and the growing sophistication of these threats, investing in cyber security training for your small business is a critical consideration to take. For more information on reducing the risk to your business, or to invest in cyber security training for your small business, contact CYFOR Secure today.