You've heard cybersecurity is important but you're not sure you can spare the money.
While it's still a relatively new concern, small businesses are becoming increasingly aware of the need to protect their data. A breach would be extremely damaging. It can ruin a company's reputation and have a hefty financial cost.
However, in this tight economic context, you're wondering if it's possible to have cybersecurity on a budget.
In this article, we'll see what kind of cybersecurity cost you can expect to pay in order to keep your company safe. Read on!
Important Factors to Consider
When trying to determine a cybersecurity cost, there are a few essential factors to consider.
These factors include the size of your company and what industry you work in. Additionally, the regulation and compliance mandates that affect your business matter. Lastly, there's the sensitivity of the data you collect and use.
As you can imagine, the bigger the company or the more density data you handle, the more you need to take cybersecurity seriously.
How Much Do IT Services Cost?
The amount that companies spend on cybersecurity is usually tied to their IT budget. While spendings vary, companies can use between 6% and 14% of their total IT budget for cybersecurity, with an average of 10%.
IT Services on a Budget
If you're just starting to integrate cybersecurity into your company, you don't need to spend a ton of money all at once.
Even a little bit can go a long way at first. You can start by getting a cybersecurity risk assessment to get a better idea of your company's position.
Companies like hybrid IT which provide cybersecurity will help you identify the highest priorities. They can define a strategic approach based on your budget.
After the most pressing risks are taken care of, you can enhance your cyber-protection over the following years as you slowly increase your budget.
It is important to note that cybersecurity isn't a one-time thing but an ongoing project that requires regular investment.
Don't Skimp on Cybersecurity
Small businesses are often on a tight budget. What's more, not everyone is internet savvy. The person approving the budget may not be aware of the value of cybersecurity.
If you feel like cybersecurity isn't given its proper place in your company, it may be a good idea to perform a basic risk assessment.
It's a great way of showing the leadership where your company is at and how an investment would increase its protection against threats.
Cybersecurity Isn't a Guarantee
One thing to keep in mind when it comes to cybersecurity is that you can never guarantee that it'll be completely foolproof, no matter how much money is spent.
Nevertheless, there is a huge difference between no cybersecurity at all and a sound strategy. To be as secure as possible, IT professionals deploy a multifaceted cybersecurity program that regularly gets updated.
Keep Cybersecurity Cost in Mind
In this day and age, cybersecurity is no longer something that businesses can afford to ignore. Information technology support and cybersec should be an integral part of your company's budget and should be prioritized to keep threats at bay.
The cybersecurity cost doesn't have to be huge, but it does require an investment on the part of the company's leadership. On average, cybersecurity accounts for 10% of the IT budget.
Browse our Tech section for more articles on cybersecurity costs and data protection services. Protect your business data at all costs!