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Cybersecurity Practices That Protect Your Small Business


5 min read

Opinions expressed by Entrepreneur contributors are their own.


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

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5 Ways to Protect Your Business and Personal Credit Scores During a Crisis


5 min read

Opinions expressed by Entrepreneur contributors are their own.


Between uncertain cash flow and concern over how to meet financial obligations such as payroll and bills, it’s a stressful time to be a small-business owner. Many entrepreneurs are experiencing the same anxieties over unemployment, debt and financial sustainability. Your personal and business credit scores could take a hit if you have to miss payments due to a cash shortfall. 

Related: The Zero-Sum Mindset: How to Avoid Toxic Thinking in Moments of Crisis

Implement these strategies to help protect your credit score while we wait for the pandemic to pass:

1. Regularly review bank accounts for any suspicious activity.

Unfortunately, crises and the financial relief that often follows seem to bring out fraudsters and criminals. That’s certainly true in the current crisis with the CARES Act, which has already prompted its share of scams targeting your

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7 Types of Insurance You Need to Protect Your Business


4 min read

Opinions expressed by Entrepreneur contributors are their own.


From the day an entrepreneur starts a business, he exposes himself to certain risks. Even before the first employee is hired, a business is at risk, making it important to have the right insurance in place. One lawsuit or catastrophic event could be enough to wipe out a small business before it even has a chance to get off the ground.

Fortunately, businesses have access to a wide range of insurance types to protect them against these dangers. Here are some insurance types that a business must have in place as soon as possible.

1. Professional liability insurance.

Professional liability insurance, also known as errors and omissions (E&O) insurance, covers a business against negligence claims due to harm that results from mistakes or failure to perform. There is no one-size-fits-all policy for professional liability insurance. Each

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