Dispelling Cybersecurity Myths for Small Businesses & Startups
May 31, 2023
small business startup
Dispelling Cybersecurity Myths for Small Businesses
When you’re starting out in business, there’s a lot of information to wade through regarding the right cybersecurity tools. As well as having to weigh up the pros and cons of different cybersecurity for small business solutions, there are also plenty of misconceptions about security that are easy to fall prey to. We’ve pulled some of the more common cybersecurity myths together, and explained why they’re not true – as long as you choose the right provider.
1. Cybersecurity is Hard
Knowing where to begin with cybersecurity can be challenging for new businesses. How do you know which tools to buy, and which will match the security requirements of your partners? Havoc Shield provides an all-in-one suite of security tools so startups can start building their cybersecurity straight away.
2. Cybersecurity for Startups is too Complicated
Of course, this can’t be true, as all businesses need differing levels of cybersecurity. But startups are often put off investing in the right cybersecurity measures due to believing that they can’t run the complicated tools and platforms involved. Thankfully, Havoc Shield busts through that myth, providing an intuitive and user-friendly dashboard, with easy-to-follow instructions that guide users every step of the way.
3. Cybersecurity is Expensive
This myth is actually sometimes true, depending on the tools or platforms businesses invest in. But cybersecurity doesn’t have to be exorbitantly expensive. Startups might overspend on individual tools for every aspect of cybersecurity, such as penetration testing or vulnerability scans. Havoc Shield brings all the required tools into one place, for one fair price – meaning there are no nasty financial surprises later down the line. Remember, the average cost of a data breach for small businesses is currently $25,612, so it's the right cybersecurity is a smart investment. Plus, having to hire your own in-house Chief Information Security Officer (CISO) could set you back $225,205 per annum.
4. Cybersecurity Requires Expert In-house Staff
There’s a common misconception that businesses need an in-house security expert or IT specialist just to get started with cybersecurity, or to maintain effective and secure systems. These additional employees or contractors can be expensive and need to be retrained regularly to deal with updates and upgrades. Havoc Shield was created for those businesses that don’t have a dedicated CISO or cybersecurity specialist. The self-guiding dashboard means anyone can work with the tools available.
5. Cybersecurity is Only for Larger Enterprises
Just because it’s the big companies that hit the headlines when they get attacked by cybercriminals doesn’t mean small businesses aren’t at risk. In fact, 43% of cyberattacks like ransomware and other malicious intrusions are aimed at small businesses. Whatever the size of your business and no matter how new you are, you need reliable security.
6. My Data Isn't Important to Hackers
Even if you think your business data has no value to hackers, your personal data does. Personal identifiable information, or PII, is your name, address, date of birth - in fact, any information which can be used to identify you or anyone else that works at your organization. Hackers collect and sell this information to identity fraudsters, which is why businesses have to ensure their data and the data of customers, clients, and partners is secure. This is to protect both individuals and the company. The reputational damage to a company that suffers a data breach can be catastrophic. According to one IT news outlet, 60% of small businesses fold in the wake of a major data breach due to customers losing confidence in the company. Once your data has been breached, you could also face the difficult situation of strategic and business-critical data ending up in the hands of the competition which can be a major setback.
7. Startups are too Unknown for Hackers to Target
Just because you haven’t built up your client or customer base, you’re still a target to dedicated cybercriminals. In fact, opportunistic criminals will deliberately target newer businesses because they know it’s more likely that they won’t have effective security in place. Cyberattacks often cast a wide net, trying to find the companies with the least secure networks for easier access. It doesn't matter if you're a sole trader working from your garage or the CEO of a Fortune 500 company - if your security is weak, hackers will absolutely take advantage.
8. A Good Antivirus Covers Everything
If only that were the case! Your company laptops, desktops, and other devices will absolutely come with some level of digital security installed. However, it’s rarely up to spec to deal with either the risks posed by cybercriminals or the compliance requirements of your business partners or clients. Havoc Shield fills the gaps, providing a fully comprehensive cybersecurity solution.
9. My Employees Understand Cybersecurity Risks
Hopefully, that’s the case. Most businesses have a cybersecurity policy that employees have to understand and follow, which includes points like phishing training, not clicking unverified links, and not installing unauthorized software. However, full cybersecurity goes way beyond the actions of your employees, so even if they are on top of what they need to do, it doesn’t protect your whole network.
10. Strong Passwords are Protection Enough
Strong passwords are an essential part of cybersecurity, it’s true. But they’re only one small aspect, and won’t protect your company’s assets from theft or ransomware if a cybercriminal gains access to your network. The simple fact is that most employees don't choose strong passwords, even when company policy dictates they should. A recent Verizon study showed that as many as 81% of data breaches were due to weak passwords or sticking to the default password, or stolen passwords. When an employee leaves, they take their passwords with them which can become a security risk. Centralized password management helps alleviate that risk to your business.
11. Remote Workers Manage their Own Security
Even if they do, home cybersecurity is rarely sufficient for business purposes. Staff working from home or remote locations should have the same level of security as those working at your business premises. Havoc Shield can help you make that a reality.
12. Cybersecurity Doesn’t Affect Winning Deals
Creating sales and winning deals is about more than your products and services. When you deal with any type of customer data, you have to be able to ensure you can protect that data to the best of your ability. That means providing a sufficient level of cybersecurity that protects digital assets, personally identifiable information (PII), and ensures that any digital services you provide meet the expected levels of security. Speak to Havoc Shield about the cybersecurity your clients or partners require, and we can ensure that your cybersecurity tools are up to the challenge.
The cybersecurity market is estimated to hit $248 billion by 2023. Make sure your cybersecurity budget is spent effectively on professional, highly secure tools that can handle even the most stringent security requirements. Talk to the team here at Havoc Shield for a simple demo to show how we can help.