A new business leader can (unintentionally) turn a blind eye to the role that cybersecurity will play in a new venture, especially when marketing and an upcoming launch date is taking center stage. 60% of small businesses, however, actually shutter operations within just six months after experiencing a data breach (or cyber attack). Despite the hefty risks of a cybersecurity incident, a robust cybersecurity strategy can go a long way in the protection from today’s digital risks. From chosen partnerships to the value of a well-prepared team, strong cybersecurity measures must involve a multi-pronged security approach to cover all of today’s bases.
Cybersecurity awareness (even for remote employees)
While cybersecurity is easily recognized as a staple in bustling office culture, the notion can easily be left behind when you’re just starting out with a relatively small and remote team. Basic cybersecurity education and awareness is crucial for every new business venture, even if the majority of operations are remote. In many ways, a remote team can be more vulnerable to digital threats. For example, remote workers often make use of public and home WiFi networks (which may or may not be secure), and depending on the situation, their own devices as well. When coupled with the fact that so many digital security incidents already derive from human error, not to mention attacks that can be easily avoided (like phishing emails), there’s no question that cybersecurity awareness and training is a must for employees across the board.
Despite the beneficial nature of cybersecurity awareness training, 33% of organizations are not providing such training to remote employees, according to research from Hornetsecurity highlighted in a 2023 press release. When proactively addressing the matter, the Federal Communications Commission (FCC) recommends the establishment of “basic security practices and policies” among employees. The suggestion includes the implementation of internet use guidelines, as well as basic cybersecurity measures (like a strong password). Periodic training that emphasizes the value of a strong security culture even when remote can help with knowledge retention, and can be completed via online courses or modules for added convenience and flexibility. When coupled with up-to-date computer software and routine antivirus scans, heightened awareness among remote workers can serve as the foundation for security culture right from the very beginning.
AI tools and software — friend or foe?
New business ventures can be quick to adopt tools that are driven by artificial intelligence in order to address tasks that would otherwise take significant time and money to do first-hand. While AI tools can be a helpful outlet in certain situations, however, it’s crucial that new business leaders fully understand the tools that they intend to use. This includes understanding the privacy and security side of various tools (even in regard to the use of generative AI models like ChatGPT). When a business fails to securely use an AI-driven tool, they may be putting themselves at risk for privacy and security issues, which can potentially result in financial consequences, data breach or loss, and reputational damage.
For many new ventures, the successful incorporation of AI-driven tools hinges on equilibrium, with humans taking the lead where it matters most, while secure and reputable AI-driven tools take the backseat. For example, human-led dedication to customer support can prove to be crucial for new ventures that aim to build a positive reputation among both new and targeted customers. AI tools that make data privacy a priority, however, can be used for other basic and time-consuming tasks in order to best benefit a new business leader. Maintaining a calendar for enhanced time-management and schedule automation, or enlisting the help of a 24/7 website chatbot for basic questions and concerns are just a few options.
Organizations must recognize the fact that AI is being used in conjunction with cyber attacks, making it essential to double down on proper cybersecurity protocols. However, AI can also make the implementation of cybersecurity measures much easier with the help of various features, underlining a double-edged sword situation. One Forbes article by contributor Chuck Brooks points out that AI can be used for a variety of cybersecurity-related tasks. With benefits that include helping businesses automate key concerns in a real-time manner (like threat analysis and identification), there’s no question that AI-driven cybersecurity can save a new business leader time and money when used properly. With that in mind, extensive research is essential before implementing any new tech, though special attention should be given where sensitive data is concerned. In doing so, a new business will be able to weigh the pros and cons and be able to choose the right option for them.
Navigating third-party risks through preparation
Going into business with a trusted individual can seem like an obvious must-have for business partners of a new venture, though the concept extends to third-party vendors as well. This is especially important when considering the fact that most operations today take place online, where sensitive data thrives. While a trustworthy third-party vendor can be ideal in regard to cost, the right choice must ensure that sensitive data is handled properly. One of the best ways to guarantee a positive experience is to conduct research on the choices available beforehand through a third-party risk assessment. Through such an assessment, a business can outline the various risks that pertain to a business, as well as reach out to third party vendors (via questionnaire) about key security points. For example, the questionnaire may include inquiries surrounding the vendor’s security practices and data privacy policies. While this will provide specific insight into potential vendors, other resources like first-hand reviews can provide additional information on available options.
Businesses that use professional services to carry out formation processes can also find themselves at an increased risk in regard to digital security, which makes it a pivotal move to choose a reputable and reliable company to work with. For those who wish to form a limited liability company (LLC), for example, a company that offers business formation services will be handling crucial and sensitive paperwork that is essential to successfully setting up your business. Beyond the digital risks involved with handling sensitive business information, a well-respected registered agent solution can provide a business with additional benefits as they begin their venture. This includes features like comprehensive customer service as well as annual report reminders. A Northwest Registered Agent promo can be the ideal way for new ventures to begin the formation process even when working with a budget. Such opportunities can be particularly great for those in search of specific services, such as help with state paperwork and general guidance throughout the formation process.
Digital risks and their consequences can bring to light a stark reality that is often forgotten in the midst of a new business launch. As a result, cybersecurity considerations must encompass a range of business aspects, from the use of third-party vendors and services to properly preparing a remote team.
