Cybersecurity - WHAT? I am a Start-up!
The threat of cyber attack comes from all angles and is ever-evolving. Start-ups make up a huge share of a Nation’s intellectual capital and business growth; therefore Cybersecurity cannot be seen as a "luxury" they cannot afford.
As a start-up, cybersecurity is something of the future because the focus is about getting the product or services to the consumers in hope of generating sufficient revenue to then allocate to security. However, investors, consumers, and regulators are requesting to have start-ups and businesses to have a security plan. Cybersecurity is going to be part of your business plan and investor pitch.
Why? Because of the reliance on technology such as your laptop, tablets, planning, blueprints, intellectual property, usage of cloud services to store information places you at great risk from day ONE.
Cyber criminals are targeting startups and small business because of:
Lack of knowledge
Lack of urgency
Not a priority
Lack of IT resources or expertise to implement and manage security systems
Startups are incredibly vulnerable to cyber attacks in their first 18 months
60% of smaller companies go out of business within 6 months of a breach
Having a breach will result in down time and reputational damage
(Source: National Cyber Security Alliance)