Cyber threats are not just a problem for large and established companies. Hackers often target startups and small companies precisely because they lack the tools and investments available to large corporations.
While large companies can recover from an attack thanks to the resources available, startups targeted by hackers often suffer a different fate. Cyberattacks lead not only to financial losses but also to reputational damage, which can be devastating for early-stage companies.
Startups must, therefore, take cybersecurity seriously from the very beginning. Let’s find out what security mistakes are made most often and how to avoid them.
Cybersecurity in the Startup World – Mistakes to Avoid
1. Not Finding Out About Threats Early Enough
As stated in the 2024 Cost of a Data Breach Report, the average company takes 194 days(!) to identify a data breach and an additional 64 days to contain it. That’s more than six months of being completely oblivious to the breach. After such a long time, the damage is long done, leaving the company to focus on damage control and recovery.
Cyberattacks are easier to prevent than to combat, especially for startups and small businesses. That’s why data breach detection is so important – it enables companies to identify breaches early, respond swiftly, and minimize damage. Early detection dramatically increases a company’s chances of staying afloat by mitigating risks before they escalate into full-blown crises.
2. Neglecting Staff Training and Simulated Attacks
Well-educated employees are just as important as high-quality cybersecurity tools. After all, human error can also cause a security breach. In fact, phishing remains one of the most prevalent attack vectors.
Employees who fail to recognize threats can be the weak link in even the most technologically advanced cybersecurity system for business. Regular staff training increases a company’s chances of successfully combating future attack attempts. Simulated attacks, combined with effective data breach detection, are ideal for identifying vulnerabilities and improving a company’s overall readiness.
3. Using Weak Passwords
Speaking of human error, it’s worth pointing out that weak passwords are also a common cause of security breaches. Although setting a strong password is the first point of most security guides, many people ignore this rule in both their personal and professional lives.
Short, weak, or easy-to-guess passwords allow hackers to steal employee accounts and gain access to sensitive data. Therefore, employee security training should also include information on how to set strong passwords and store them securely.
4. Not Managing Access Rights
In a well-secured company, each employee should only have access to the data they need to perform their tasks. This means that no employee should have access to all confidential information.
Unfortunately, some startups and small companies still grant their employees access to everything at once because it’s quicker and easier than managing access rights. But this creates serious risks – if one employee falls victim to an attack or otherwise compromises the company’s security, all data could be at risk.
5. Not Creating Regular Backups
Regular backups are one of the pillars of a strong cybersecurity policy. Backups allow companies to quickly recover data in the event of cyberattacks, especially those that can lock down their operations, such as ransomware attacks that encrypt data and demand a ransom to restore it.
Backups should be done regularly. It’s a good idea to create a backup schedule and stick to it. Backups should be stored as securely as possible, ideally offline, to ensure they remain unaffected in the event of an attack. Many companies use external cloud services to store their backups, which can be a good option. However, if you decide to trust a company with your data, it’s crucial to conduct thorough research. Avoid selecting a service that is inexpensive but has a poor reputation or no reputation at all.
6. Ignoring Software Updates and Patches
Software updates include patches designed to fix security vulnerabilities that may have been previously missed. Cybercriminals can discover and exploit these vulnerabilities to target companies still using unpatched software. This highlights the importance of regularly updating your software. Delaying updates for an extended period can jeopardize your startup’s security.
Remember, prioritizing cybersecurity from the outset is essential for your startup’s survival. By avoiding common mistakes, you can significantly reduce your vulnerability to cyber threats. Taking these proactive measures not only protects your sensitive data but also helps maintain your startup’s reputation and future success!
