At LA Networks, we offer a range of cybersecurity services to help protect your business, including risk assessments, security monitoring, and access controls. Contact us today to learn more about how we can help keep your startup safe and secure. Many startups assume that they are not likely targets for cyber attacks because they are small and don’t have much valuable data. However, statistics show that small businesses are often the primary targets of cyber criminals. In fact, according to the Verizon 2021 Data Breach Investigations Report, 28% of data breaches involved small businesses.
To avoid becoming a statistic, startups must take proactive measures to protect their valuable data.
Here are 10 best cybersecurity practices that every startup should follow:
- Conduct a Risk Assessment: According to the 2021 Cybersecurity Report by Cybersecurity Ventures, 60% of small businesses that suffer a cyber attack go out of business within six months. A risk assessment is essential to identifying potential vulnerabilities and threats that could lead to a costly breach. La-Networks.com offers comprehensive risk assessments to help startups identify potential threats and develop effective security measures to mitigate those risks. Learn more about our risk assessment services here: https://la-networks.com/risk-assessment
- Implement Strong Password Policies: The 2021 Verizon Data Breach Investigations Report found that weak passwords are a leading cause of data breaches, with 25% of all breaches involving the use of stolen credentials. La-Networks.com offers password management solutions that enable startups to enforce strong password policies and minimize the risk of credential-based attacks. Learn more about our password management solutions here: https://la-networks.com/our-solutions/
- Use Two-Factor Authentication: According to the 2021 Data Breach Investigations Report, 61% of data breaches involved the use of stolen or weak passwords. Two-factor authentication adds an extra layer of security to your accounts, making it more difficult for cyber criminals to gain unauthorized access. La-Networks.com offers two-factor authentication solutions that can help startups protect their valuable data. Learn more about our two-factor authentication solutions here: https://la-networks.com/our-solutions/cisco-tools-to-secure-small-and-mid-sized-businesses/
- Keep Software Up-to-Date: The 2021 Cost of a Data Breach Report by IBM found that outdated software was a leading cause of data breaches, with 42% of all breaches involving unpatched vulnerabilities. La-Networks.com offers patch management solutions to ensure that all software is up-to-date with the latest security patches and updates. Learn more about our patch management solutions here: https://la-networks.com/our-services/in-depth-assessments/
- Use Anti-Virus and Anti-Malware Software: The 2021 Cybercrime Report by Cybersecurity Ventures estimates that cybercrime will cost the world $10.5 trillion annually by 2025. Anti-virus and anti-malware software are critical to detecting and preventing malware infections. La-Networks.com offers comprehensive anti-virus and anti-malware solutions that can help startups protect their valuable data. Learn more about our anti-virus and anti-malware solutions here: https://la-networks.com/our-services/managed-services/
- Train Employees on Cybersecurity Best Practices: According to the 2021 State of the Phish Report by Proofpoint, 75% of organizations experienced at least one successful phishing attack in 2020. Regular cybersecurity training is essential to educate employees on best practices and how to recognize and report potential threats. La-Networks.com offers comprehensive cybersecurity training programs to help startups minimize the risk of successful cyber attacks. Learn more about our cybersecurity training programs here: https://la-networks.com/our-solutions/security/
- Implement Access Controls: The 2021 Cybersecurity Report by Cybersecurity Ventures found that 95% of all cyber attacks are caused by human error. Implementing access controls and permissions can help ensure that only authorized personnel can access and modify sensitive data. La-Networks.com offers access control solutions that can help startups protect their valuable data. Learn more about our access control solutions here: https://la-networks.com/our-solutions/cisco-sase-secure-access-from-anywhere/
- Use Encryption: The 2021 Cost of a Data Breach Report by IBM found that companies that implemented encryption had an average cost savings of $360,000 compared to those that did not. Encryption helps protect sensitive data in transit and at rest, making it more difficult for cyber criminals to steal or access your data. La-Networks.com offers comprehensive
- Secure Your Network: A secure network is critical to keeping your startup safe from cyber attacks. Use a firewall to monitor and control incoming and outgoing network traffic, and consider implementing a virtual private network (VPN) to secure remote access:
- Monitor for Suspicious Activity: Keep an eye out for any suspicious activity on your network or systems, such as unauthorized logins or data access. Use security monitoring tools to detect potential threats and respond quickly to any incidents: https://la-networks.com/security-operations-center-as-a-service-outsource-soc-for-efficiency/
By implementing the 10 best practices outlined above, startups can protect their data, reduce their risk of cyber attacks, and save themselves the significant cost of a security breach.
As for industry statistics, here are a few to support the importance of proactive cybersecurity measures:
- The average cost of a data breach is $3.86 million, according to the 2020 Cost of a Data Breach Report by IBM Security and Ponemon Institute.
- Ransomware attacks increased by 485% in 2020, according to a report by Atlas VPN.
- Business email compromise (BEC) scams cost businesses $1.8 billion in 2020, according to the FBI’s Internet Crime Complaint Center (IC3).
- In a survey of small businesses, 43% reported experiencing a cyber attack, and 60% of those businesses went out of business within six months of the attack, according to a report by the National Cyber Security Alliance.
By implementing proactive cybersecurity measures, startups can significantly reduce the risk and potential costs associated with cyber attacks. At LA Networks, we offer a range of cybersecurity services to help protect your business, including risk assessments, security monitoring, and access controls. Contact us today to learn more about how we can help keep your startup safe and secure.
The 2021 Cost of a Data Breach Report by IBM found that the average cost of a data breach was $4.24 million. The same report also found that companies that had proactive measures in place to detect and respond to cyber attacks had a lower cost per breach than those that did not.
Proactive cybersecurity measures are critical for startups of all sizes. As a cybersecurity experts, our advice to startups is to prioritize cybersecurity from the beginning and make it an ongoing effort. Don’t wait until a breach occurs to take action.