Importance of Cybersecurity for SMEs

The advent of technology has brought about profound changes in the way we handle our businesses. From financial transactions to professional networking, businesses have to rely on technology to remain interconnected and work effectively. Yet, the danger of these lines of communications being compromised looms ahead, threatening to cause unprecedented damage to the business. 

Whether it is a large corporation or a small business, any business is prone to cyber security attacks. But the risk is far greater for SMEs as they are often easy targets for criminals. 

In today’s article, we highlight the reasons as to why cybersecurity is of such great importance to SMEs and what you can do to protect your data from hackers. 


Minimal Defenses

Normally, larger companies have more capital to spend on protective measures against cyber threats as compared to SMEs, which tend to lack sufficient security budgets. Knowledge of this is sufficient for hackers to channel their attention and efforts to SMEs as easier targets as it is much safer and has lower risk potential to deal with businesses that have minimal defenses and limited technical ability.  

The Consequences

So, what exactly happens when companies fail to take action to protect themselves against breach of security? Well, such a situation entails considerable risks such as having confidential company details – including passwords and bank account info – stolen, and the danger of of exposing clients’ data.  


Protective Measures

As such, SMEs can take the following actions to defend themselves from a potential attack. First, it is crucial to identify which information is sensitive and confidential, and set up strong passwords. 

Next, provide sufficient training to staff about tips for best practices in order to utilize human error and effectively combat cyber-criminal strategy. 

Third, choose a safe cloud storage provider that offers firewall protection, encryption, and ransomware threat prevention. 

Following that, you should invest in effective anti-malware and ant-virus software as prevention is always better than cure and a secure system will help to stop an attack from being carried out. 

Lastly, appoint the help of a experienced and skilled professional IT firm that will defend your company from cyber attacks. 

If you’re interested to learn more of similar business strategies, tips and how to tackle common issues that many SMEs face, do join us at our 3rd Annual H.E.R Asia Summit 2019:

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