There is a lot that needs to be considered when starting a new business. These days, one of the most critical areas will be cybersecurity. Cyber attacks are on the rise and becoming increasingly sophisticated, and you should not fall into the trap of thinking that startups are not targeted. Cybercriminals will target new businesses because they often have little to no protection in place, which is why cybersecurity must be a priority right from the beginning. So, what cybersecurity essentials will you need for your startup? Keep reading for the key areas that you will need to focus on.
Antivirus Software
Antivirus software is the foundation of your defense, so you need to take your time to find a high-quality software program that will offer robust protection for your business against the latest threats. You should go with a recognized vendor and always keep the software up to date.
Firewall
A firewall is another essential product that can help build a robust defense against cybercrime. A firewall protects your network by monitoring and controlling incoming and outgoing traffic. Essentially, this creates a barrier between your network and the internet, with a set of predetermined rules controlling the flow of traffic.
Password Policies
Cyber attacks are often successful simply due to working out or guessing a password. Therefore, it is vital that you have password policies in place that require strong, complex, and random passwords. These passwords should also be different for different accounts and changed regularly. You should also enforce MFA to add another layer of defense.
Fraud Risk Management
Fraud is a major issue in the digital age. Companies are estimated to lose 5% of their gross revenue to fraud, and as a startup, you will not want to lose any money. This is why you must assess fraud risks and create a program that will detect and prevent suspected fraud. The key steps involved in fraud risk management include:
- Fraud risk assessment
- Fraud risk governance
- Fraud risk prevention
- Fraud risk detection
- Monitoring and reporting
Backups
A loss of data can be devastating for any business, so you must implement regular data backups when launching your business. This can protect against data loss and ransomware attacks (which are on the rise).
Security Audit
Finally, you should conduct a security audit before launching, which should be carried out by an external specialist. This will help detect any weaknesses or gaps that you have in your protection. You can then address these areas knowing you have robust protection as you launch. You should also arrange regular security audits to monitor your defenses (keep in mind that cyber attacks are constantly evolving and changing).
Every startup needs to develop robust cybersecurity protection before launching; these are a few essentials. You do not want to become a cyber victim in the early stages, as this could derail your business and stop you from hitting the ground running, so cybersecurity needs to be a priority during the development stage of your startup.
