The threat posed by cybercrime is very real. It’s far too easy to ignore the risks and just think they don’t apply to you, but the reality is very different. According to CyberGhost’s report, one of the most frequently overlooked threats to online security is using free Wi-Fi. This means even if you do everything else right, casually connecting to an open network can threaten your sensitive data, and that is exactly why cybersecurity training is important.
Too many small business owners have made the mistake of overlooking the need for cybersecurity training. They wrongly believe that bigger companies are a more lucrative target and fail to understand that they can also face a cyber attack. The question of whether cybersecurity training is necessary or essential leads to one obvious answer: it’s something that businesses of all sizes need to implement into their regular practices.
As you read on, we’re going to explore just what cybersecurity training is and what benefits it can bring to your small business.
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What is Cybersecurity Training?
You can’t expect your employees to take action to protect your business from threats that they don’t understand. By carrying out cybersecurity training, your business is ensuring that its staff is aware of information security and the role it can play. By introducing this level of awareness, companies can reduce the risk of being victims of a successful cyber-attack.
No matter what level someone is in your business, they should receive cybersecurity training. If not, you’re leaving areas of vulnerability, and you can be sure that these will be exploited. Your staff, at all levels, need to understand the risks posed by:
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- Ransomware,
- Business email compromise frauds,
- Phishing attacks,
- Brute force attacks,
- Spoof attacks, and
- Port stealing.
How Cybersecurity Training Boosts Profits
There are numerous ways cybersecurity training can help to increase your profits. These include:
Attracting Talent
Attracting the best talent to your business isn’t always an easy task. Something that a modern-day workforce understands is online privacy and security. When potential employees discover that a company doesn’t have sufficient means of protection against cybercrime, you can be sure they’ll be hesitant about joining you.
Businesses understand that there is a need to seek out candidates who are knowledgeable in terms of cybersecurity. The best way to attract these candidates is to show that this is something your business already takes seriously.
Saving Money
A cyberattack can cost your business serious amounts of money. Even for small businesses, it can cost up to around $148,000 to recover. There are also times when this figure goes higher. It’s not just the immediate financial loss that needs to be considered. There are also issues with the following:
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- Lost revenue,
- Damaged reputation,
- Loss of clients, and
- Theft of personal data.
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By taking steps to invest in cybersecurity training, you can protect your business’s bottom line and ensure that profits are maximized.
Build Trust with Customers
Consumers are becoming increasingly aware of the risks that are posed by cyber-attacks. These consumers know that if you aren’t taking steps to protect your business that they are left vulnerable too. If you lose the trust of your customers, you’ll ultimately lose their business entirely.
By carrying out cybersecurity training, you can show customers that you take their personal data seriously. This leads to an increase in loyalty which goes a long way. Loyal customers are the ones bringing the highest business value. Not only are there advantages with existing customers, but there is also the opportunity to attract new ones.
Steps Towards Increasing Security
While there is a need to ensure that all employees receive cybersecurity training, there are basic steps that can be implemented straight away to help protect your business. These include:
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- Name your network – don’t leave the default name, as hackers are aware of the default passwords that come with these.
- Physical security – make sure that all access points are secure.
- Passwords – educate employees to make the most out of strong passwords. These should be at least 8 characters long, but ideally, that should be as long as 20.
- Update software – if you ignore software updates, you’re leaving your network vulnerable
- Use a VPN – a virtual private network (VPN) ensures that your internet connection is encrypted and your data in transit is protected at all times.
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Final Thoughts
Small businesses are particularly vulnerable to cyberattacks as they often have fewer funds to spend on training and educating their employees. However, suppose your employees aren’t familiar with the potential risks they may face and how they may expose the company data to unwanted risks. In that case, the financial burden of a cyberattack may be even harder to face. Make cybersecurity training an essential part of your business approach and teach your employees how to implement proper cybersecurity measures.
