Jonathan Vowles Chartered Accountants

0333 335 0422

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Is Cybersecurity The New Black?

Even small businesses need to protect themselves ...

 
 


If you run a business, then cybersecurity is something that you need not just be aware of, but be on top of. As a business adviser, I am always looking for things that are going to be business critical if they go wrong, and this is one of those threats ...

Cybersecurity is important, whatever the size of your business!

Cybersecurity is important, whatever the size of your business!

copyright: mikkolem / 123rf stock photo (licensee)

So what are you doing to take care of your business and your ability to stay in business? Ok, so we all have locks on our doors, but what are you doing to put locks on your computers? Especially when you can't even see the doors that are being exploited in your computer?

Don't think it can happen to you? Well, think again! A report into cybersecurity shows that small business are more likely to suffer:

  • 43% of cyberattacks target small business

  • Only 14% of small business think they have highly effective processes to deal with security - meaning 86% have ineffective processes!

  • 60% of small companies go out of business within six months of a cyberattack

  • 48% of data security breaches are malicious acts, the other 52% are human error or system failure

  • The top four most common attacks are (1) web-based (2) phishing (3) malware (4) ransomware

  • Small businesses have smaller budgets to spend on protecting themselves.

Think it won't happen to you? It is going on all over the world, and it probably will have happened to someone you know. It has even happened to micro-businesses only making hundreds of pounds!

Whilst targeting multi-million-pound business might give a big payday, it is actually easier to attack lots of small companies with poor security.

"Your small business really
is at risk!"

This means that business owners need to be on top of this - do you know what your biggest risks are?

  1. Older computer equipment is more at risk. If you run Windows XP or Windows Server 2003 then do something right now like unplugging your internet connection until you install new operating systems because XP and Server 2003 are no longer supported by Microsoft!

  2. Negligent workers are one of the biggest causes of attacks succeeding. Have you trained all your workers not to just click on dodgy emails or dodgy websites? And then refreshed and re-trained them?

  3. Make sure that your software is always updated to the most current version

  4. Never simply accept an email saying 'pay money now' or from one of your suppliers saying they have changed bank accounts. Always verify such requests by telephone

  5. Spend some money on cybersecurity!

And if you run a big business? Well, maybe you should take a leaf out of the German Government's book? This April (Spring 2017), it established a new part of its defence forces for cyber defence. So as well as army, navy and airforce they also have a cyber force that has a budget for 13,500 personnel or about 22% the size of its army!

"Maybe I should have entitled this blog post 'Is cybersecurity the new khaki?'"

If you need help and advice in knowing what to look at and how to take care of your business then give me a ring on 0333 335 0422 or click here to send me an email enquiry and I'll be in touch as soon as I can.

Until next time ...

JONATHAN VOWLES


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Précis (3)





More about Jonathan Vowles ...

I've been an accountant in and for business since 1987 and have a wide experience of consultancy, audit, accounts, taxation and wealth planning work from individuals and small businesses to multinational corporations and charities.

My eclectic interests in growing and developing business span a number of areas … and can be summarised as strategic business advice and tax saving advice.

I have worked with the Chamber of Commerce to deliver courses for people about starting up in business and have lectured about tax for a major accountancy practice and for Milton Keynes College.

I relax by reading fiction and by getting away from the office in a campervan.

Telephone:

0333 335 0422

Website:

http://www.jvca.co.uk


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