Just as more companies continue to grow their businesses online, so, too, will the need for robust cybersecurity measures. According to Cybersecurity Ventures’ 2019 Cybersecurity Market Report, worldwide spending on such products will increase from $3.5 billion in 2004 to an estimated $170.4 billion in 2022.
For small businesses looking to ensure that their networks have at least a fighting chance against many attacks, that generally means installing any number of basic types of security software available on the market, each with varying levels of efficacy. Antivirus software is the most common and will defend against most types of malware.
A hardware- or software-based firewall can provide an added layer of protection by preventing an unauthorized user from accessing a computer or network. Most modern operating systems, including Windows 10, come with a firewall program installed for free.
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Along with those more surface-level tools, Cobb suggests that businesses invest in three additional security measures. The first is a data backup solution so that any information compromised or lost during a breach can easily be recovered from an alternate location.
The second is encryption software to protect sensitive data, such as employee records, client/customer information and financial statements.
The third solution is two-step authentication or password-security software for a business’s internal programs to reduce the likelihood of password cracking.
As you begin considering your options, it’s generally a good idea to run a risk assessment, either by yourself or with the help of an outside firm.