The Importance of Cybersecurity Standards and Certifications for SMBs

In today’s world with cyber attacks hitting the headlines daily, cybersecurity is at the forefront of many business owners’ minds, but implementing the right solutions and knowing what to do to reduce your risk is a big challenge for decision makers in these organizations. The task is even harder for small- to medium-sized businesses (SMB) that tend to lack extensive budgets and resources needed for implementing the most effective and high-brow cybersecurity solutions on the market.

U.S. and UK authorities are acutely aware of the cyber problems facing every modern-day business and how, contrary to popular belief, they can affect organizations of all sizes and industries. Small businesses are not meaningless to cyber criminals, and quite often, they are the subject of attack—if only to gain a foothold into a supply chain so they can access larger enterprises.

These attacks can be devastating for SMBs, with studies finding that 60% of small organizations go out of business within six months of a successful cyber breach. This means SMBs must start treating cybersecurity as a priority and conducting the right kind of risk analyses to confirm they are investing in the most cost-effective solutions that work for their business.

What Are Cybersecurity Standards?

The cyber sector is now full of many different standards and certifications for businesses to achieve in relation to cybersecurity and information security. These standards are put forth to offer businesses a set of techniques, controls, and processes that they can implement in order to achieve and maintain a certain level of security.

By declaring that they are in line with the chosen security standard, businesses can demonstrate much higher credibility when faced with stakeholders, insurance providers, potential clients, and potential partners. This is just one of many benefits that come with achieving standards.

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