The adoption and usage of cloud computing by SMBs is soaring in popularity, and it is easy to understand why. With its low upfront cost and huge benefits that can include increased efficiency, anywhere access, reduced risk during a crisis, and improved cash flow, it is hard to imagine why any business would not make a move to the cloud. But with the rising use of the cloud by SMBs Owners, there has been a significant rise in cyber-crime. SMBs Owners need to know the basics of security and cloud security specifically.
In this post, we will look at some of the things which SMBs Owners and Single Owner Businesses have to know about Cloud Security:
1. SMBs face the same threats as big organizations.
Threats are finding various reasons to concentrate their efforts on large businesses only. Once it was thought that big corporations were the best targets for the ransomware and some other attacks, SMBs are being targeted in increasing numbers. Hackers realize that small and medium businesses also have reputations to protect, and they also have access to funds to pay cyber people if required.
2. IT services are now available.
As the digital age has changed the way the world keeps working, it has also democratized niche services previously. IT consulting services were once highly interested in the money available from an extensive business set. But as more customized and affordable products offer open up, it is just as easy to get IT to support in Cairo.
Apart from these services, it is also a better idea for the SMBs and SMBs owners to be good at self-protection basics. These include updating software regularly, educating employees on dealing with threats, and implementing a crisis response plan. Like 2FA and good online habits like strong password protection, some other set of measures can go some more way towards not leaving everything to a cyber-security system.
3. IT breaches are expensive.
The majority part of malicious attacks is due to the financial part. The costs of resolving any threat attack can cripple SMBs and potentially bankrupt SMBs owners. The toll is not only limited to finances. Many victims find their operating work severely disrupted for a long duration of time. This causes a huge loss of trust among customers and some other unwanted effects such as loss of market share. The road to recovery from a severe beach can be a long one.
4. Interconnected devices are highly risky.
One of the most significant benefits of cloud computing is the ability to access files from a number of various sets of devices. The trouble is that many times, small and medium business employees, in particular, use some of the unsafe home devices, which expose company devices and systems to risk. Employees often use an unsecured network while working remotely. With no advice or training to modify behavior, staff unknowingly exposes the company to threats across the cyber world.
It is more common for small and medium businesses (SMBs) to have a wide range of hardware or software items at their disposal if they have rapidly grown at a very fast-paced. IT security grievances policies are also not consistent and do not cater to growth. Many SMBs have a wide range of different hardware items from different manufacturers. This indicates a procedure as you grow, which shows that IT practices may not have been coordinated in a full segment. In this environment, threats can enter at any point in time. SMBs Owners should ensure that they give basic security training to their employees.
5. Protecting the data of the client is the primary responsibility.
Nowadays, business often holds large amounts of client data from collaborations between projects. This information may be put on an extranet or any other storage device—either way, protecting customer data is the firm’s largest priority.
Those companies have had sensitive information such as bank details if stolen; then, it would lead to a huge loss and reputation in the market. On the other hand, competitors are also quick to seize on any part of the data lapse and naturally try to take up the entire market share.
6. The reputation and market value of your business is at stake.
It is a rare case for businesses to fail soon after a cyber-attack. As we have seen, a major factor in this is the loss of reputation. In a world of infinite competitors’ choice, it can be challenging to recover from a high profile breach.
If reputation and market share loss keeps on following then, this can be an unfathomable loss for the small business owners who are just not set up for the fallout. Smart business owners should be thinking about the hurdles around the corner. These yet unrealized disasters that can sink a business should be addressed as soon as practically impossible.
7. Small and medium business owners are a soft target
SMBs owners are often distracted by the more pressing issues of growth and survival in the market. Often, their IT services, by then in-house, or outsourced, are not that adequate for the requirement of the SMBs. Many business owners leave cybersecurity measures by the wayside because only the noise wheel gets the oil. By underestimating the level of threat, SMBs leave themselves wide open to vulnerabilities and cyber-attacks.
Many SMBs believe that they don’t have anything even worth stealing. This is totally false and often proven to be wrong when a threat actor appears demanding ransom money for the sensitive customer or client data. SMBs owners should always evaluate and test their IT systems for any threat or vulnerability in the way large big organizations do.
How Can Cloudanix Help?
Cloudanix offers helps you audit your cloud services account for any security loophole that may result into a vulnerability. We provide support for the three popular clouds – AWS, GCP and Azure. Sign up today for a free trail!