5 Cybersecurity Tips For Startup In 2020 [ Actionable Tips ]

If you are looking for some cybersecurity tips for startup, then you in a good place.

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A cyberattack is any form of criminal activity targeting computers, computer networks, or networked devices. Cybercrimes take place primarily online.

Anyone using the internet can be a victim of a targeted attack.

Due to their heavy reliance on networks, data, and internet connectivity to conduct business, businesses are an attractive target for cybercriminals.

Cybercrime has a large and rapidly growing impact on businesses of all types, with start-ups and small businesses bearing the brunt of these attacks.

Cybersecurity is becoming a growing and significant concern for small businesses.

A recent Verizon Data Breach Report noted that small businesses are the target of 43% of cyberattacks.

The ever-growing and sophisticated community of hackers and other online threat actors is increasingly launching attacks against start-ups and small businesses, often targeting the sensitive data, intellectual property, and personal information in their possession.

Scroll down to learn how to protect your business venture.

Do read it: Tips to start your own startup in college

Understanding the Risks

Cloud computing has transformed the way businesses use, store, and share data, software, and workloads.

Cloud services have plenty of benefits for businesses, including improved employee productivity, low costs, etc. which drive many start-ups and small businesses to the cloud.

However, cloud services also increase the risk of cyberattacks. In the physical world, start-ups take mitigation measures to protect their data.

On the cloud, most start-ups fail to put robust cybersecurity measures in place, leaving their data vulnerable to cybercrime.

These online databases are a treasure trove of information that cybercriminals would love to exploit. The complacency of start-ups towards online security amplifies the risk of a data breach.

Some of the most common threats targeting start-ups and other small businesses include phishing, ransomware, and data breaches.

  • Phishing. Cybercriminals often use this social engineering tactic to access and steal sensitive information. Phishing attacks employ fake emails and websites purporting to be from reputable sources to steal company data.
  • Ransomware. Ransomware is a form of malware that, when deployed, renders your computer systems inaccessible until you pay the attackers. Ransomware attacks are becoming increasingly common in the business world, often targeting start-ups and small businesses.
  • Data Breach. Any incident that exposes confidential or protected information can be described as a data breach. Data breaches may involve the loss or theft of passwords, email, or credit card information. Data breaches can be intentional or unintentional.

All businesses, regardless of size, can be targeted in a cyberattack. However, hackers tend to prefer start-ups and other small businesses.

Small businesses are more vulnerable to these attacks because they don’t have the resources to set up a robust cybersecurity infrastructure.

There will be a 300% increase in ransomware attacks in 2020, most of which will be directed at small businesses (Forbes).

Cybersecurity Tips For Startup To Secure It

A 2019 report by Ponemon Institute/IBM Security shows that a data breach costs businesses in the US $3.92 million on average.

The average loss per attack per business is approximately $200,000, not to mention the reputational damage and potential lawsuits.

Luckily, there are ways to plan for a cyberattack and mitigate the damage. Here are some proactive steps you can take to defend your start-up against cyberattacks.

1. Install Antivirus Software

Antivirus, sometimes referred to as antimalware, refers to a set of programs designed to protect your system from viruses, trojans, spyware, worms, and other malicious software.

Antivirus software helps you protect your start-up’s data, company information, and identity.

This software will also help you remove any glitches as well as unwanted programs that may be bogging down your computer system, improving security and performance.

It is also essential to secure your office’s network with a VPN to prevent DDoS attacks and provide an added layer of protection against various online threats.

2. Back-Up Your Data

Just one inadvertent malware download or phishing email can lead to the loss or destruction of data and bring your business activities to a screeching halt.

However, you can quickly recover your data and get back to business if you are properly backed up.

Backup is the last defense against data loss as it provides individuals and businesses with a way to restore lost or destroyed data.

A good backup strategy can also help your business recover from a ransomware attack and is, therefore, essential for cybersecurity.

3. Hire IT Experts

This is among the best cybersecurity tips for startup in 2020.

IT services provide a convenient and reliable way to protect your company’s data.

This is especially true for start-up owners who don’t have the resources to optimize their business for cybersecurity.

Start-ups and other small businesses are often targeted by hackers due to their lack of experience in dealing with cyberattacks and the tendency to use outdated software.

Outsourcing your cybersecurity functions to a company that specializes in IT security gives you a chance to focus on growing your business.

Cybersecurity tips for startups

4. Assess System Risks and Vulnerabilities

A vulnerability assessment will help you identify, quantify, and prioritize the risks and vulnerabilities in your system.

You will be able to isolate recognized threats and threat actors as well as the likelihood that these risks will lead to loss or exposure.

Assessing system risks and vulnerabilities is essential to IT security. Have an external consultant test the systems that have external access such as websites, folders, and drives.

Prioritize computer and network security and come up with procedures to be followed in the event of a breach.

5. Educate Your Employees

Today, a growing number of cyberattacks are directed at the employees’ lack of awareness instead of vulnerabilities in the system.

This makes employees one of the biggest cyber threats for your start-up.

Educating your employees on cybersecurity best practices is essential. Provide regular employee training on cybersecurity best practices to help develop a proper cybersecurity culture in your organization.

Teach your employees habits that prevent an internal breach, such as keeping their passwords private, and how to recognize spoofed or malicious emails.

So educating your employees is among the best cybersecurity tips for startup which can secure your startup to a great extent.

Final Words: Cybersecurity tips for startup

Start-ups experience plenty of hardship during their early years. With almost half of all cyberattacks being directed at small businesses, cybersecurity is increasingly becoming a problem for start-ups.

So hope these cybersecurity tips for startup will help you in securing.

These businesses must take measures to mitigate cybersecurity risks to avoid loss of data, financial losses, and reputation damage that follows a successful attack.

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