5 Reasons to Invest in Security for Your Business

27th November 2019

Smart business owners will take the right security measures to protect their hard work. Yet, 75% of small businesses in Australia don’t invest in cybersecurity or security cameras.

But it’s imperative for business owners to ensure their assets and people are protected.

Cybersecurity and security hacking remains a top business priority.

Unfortunately recent statistics don’t favour small businesses either. According to Telstra, 48% of Australian businesses have experienced a security attack in the last year. 65% of Australian businesses had their daily operations interrupted by a breach and the statistics are only on the rise.

Learn how to stay protected and why you should invest in business security.

1. Create a Strong Sense of Security

When businesses are defended from security hacking, employees are more confident about where they work.

Why?

Because it shows staff your business means something more than profit.

Your people are as important to protect as your assets.

Security systems, such as cybersecurity and security cameras, can create a safer place of employment by prioritising staff and customer safety. Loyal employees and customers are hard to retain if crime levels are high. Use the right security measures to help foster a stronger community.

Staff who are more confident in their workplaces have increased productivity levels too. Security systems can deter criminals, prevent employee theft and provide a safer place with peace of mind.

Tip: Educate all staff on cybersecurity best practices and security policies, including protocols for keycards, employee access, unauthorised access and overall business security. Staff are often the weakest link – education and enforcing best practices is essential.

2. Customer Trust

A stronger sense of security leads to better customer trust.

Business reputation is boosted, as customers and clients feel more at ease with knowing activities are monitored for safety. Especially when sensitive data is at stake, the building of trust is invaluable.

In some companies, information is more valuable than money. But free Antivirus software won’t cut if for most Australian small businesses.

Instead, invest in paid software and data security through a reputable IT provider. Software isn’t a leave and forget security measure; it needs ongoing maintenance and the latest updates to be as effective as possible.

3. Hackers Expect Small Businesses to Have Loopholes

There’s a common misconception that small businesses are safer than large corporations.

But size of the business doesn’t matter to criminals.

Quality of data, for example customer credit cards or health data, and valuable intellectual property are strong targets. Cybersecurity and security cameras on business premises are important for viable protection.

Hackers and criminals expect these targets to be easy to exploit. Lack of risk-awareness, budget and education make many small business owners reluctant to invest in proper security.  

Tip: Read our article on how to maximise security cameras for your business to eliminate loopholes. 

4. Lower Insurance Premiums

If you’re looking for ways to reduce premiums, invest in cybersecurity and surveillance.

Most insurance companies favour business owners who have security by offering discounts on policies or excesses. After all, better protection for your business is good for their bottom line as well.

Security systems are investments that can pay off long term. You can also save by writing security purchases off as tax deductions against your business.

Should an incident occur, having a security system in place gathers evidence and enables better documentation of the actual event.  

5. You Can’t Stop What You Can’t See or Monitor

Every business has its vulnerabilities.

But if you don’t have a clear picture of its entire infrastructure and risks, it’s impossible to stop breaches, prevent theft and reduce malicious attempts.

Start by identifying risks and remediate ways to mitigate each vulnerability. When it comes to protecting sensitive data, use a Vulnerability Management Service to review your business network. For physical security, cameras will help reduce employee theft and monitor daily activities to find areas of improvement and increase staff/customer safety.

Smart security measures shouldn’t be reserved for dangerous or high profile businesses and jobs. Cyber and small business security is every employer and employee’s concern. Follow our blog for more security tips or contact today.