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Success instills pride. Unfortunately, valuable possessions also attract thieves. Entrepreneurs think lack of customers, bad service and limited capital are what causes bankruptcy. Try being a victim of cyber crime.
The National Cyber Security Alliance found that 60 percent of companies that are victims of a cyber attack go out of business within six months. The average loss is $200,000, according to a 2019 report by insurance carrier Hiscox. That’s a hefty sum for startups, most of which are already reeling from the virus outbreak. Currently, 15 percent of small businesses do not expect to survive the recession, which means a cyber attack would have devastating consequences.
Here are cybersecurity practices that protect your business.
Train staff on security protocols
While big companies get all the media attention, hackers also exploit smaller organizations. It’s partly because