From electronic bank fraud to hacks that reveal thousands of customers’ personal information, small and medium businesses face the same kinds of cybersecurity threats as larger organizations. The fact that you operate on a smaller scale doesn’t make these threats any less significant. Are you doing everything you need to do to stay safe?
Advanced Technology, Advanced Risks
In many ways, the advent of internet technology and mobile communications has been a democratizing force for small and medium businesses. Now, if you have a good product and you can market and sell it in a digital format, you can reach a global audience of billions rather than limiting yourself to the customer base that lives within a 50 mile radius of your shop. Whether your business provides its customers and clients with goods and services, chances are that you perform some part of your business in the digital realm.
Smartphones, digital bank accounts, business email, online shops, document sharing and storage tools...all of these elements play a part in the average business day. Sharing information with employees and transferring property to customers isn’t just a physical thing anymore. While these digital resources make life easier and increase efficiency, they also open both the business and the customer up to some significant risks. If your business stores customer financial information and deals with any other sensitive digital information, cybersecurity should be a primary concern.