In 2024, cybersecurity will be crucial for small businesses as they face increasing threats. Although often perceived as issues for large corporations, it has been confirmed that 50% of cyber attacks target small to medium-sized businesses, with over 60% of those attacked going out of business. Tight budgets and limited resources make it challenging for small businesses to keep up with the latest threats and regulatory demands. To combat these challenges, small businesses must invest in a cybersecurity strategy that aligns with their business goals, reduces risks, and enhances resilience. A well-crafted cybersecurity plan acts as a business enabler, supporting growth and demonstrating a commitment to security. It should focus on protecting against major threats like ransomware and data breaches while also considering business risks. A strategy guided by business objectives ensures that security investments are effective and efficient, rather than just a collection of security products that may not meet the business’s needs. Investing in cybersecurity is not just about reducing risks but also about creating value by protecting the business’s reputation and supporting growth objectives, so a robust, business-aligned cybersecurity plan will be essential for the success of small businesses.

Anscombe, Tony. 2024. “Why You Need a Cybersecurity Plan for Your Small Business in 2024” All Business. READ: https://bit.ly/3YXcGwR

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