Launching a new startup takes innovation, courage, and preparation. It’s hard to stress enough how crucial the pre-planning phase is for new businesses. Even the best idea may fail with the wrong resource allocation. Cybersecurity is frequently overlooked when starting a new business, which can be devastating.
According to data from the US National Cybersecurity Alliance, 60% of small businesses do not recover from a successful cyber attack. Moreover, the financial damages reach well into hundreds of thousands. Imagine what a hundred thousand dollars in damages could do to a startup.
Below we’ve listed four essential cybersecurity practices that any new startup owner can take.
1. Password management and multi-factor authentication
A growing startup should store all confidential business data behind a password. Yet password management is frequently overlooked. For example, even one of the most significant cyber attacks of 2021 was due to bad password management.
It’s of the utmost importance to never use the same password twice. We recommend using a business password managerto create multiple complex passwords and store them in an encrypted vault.
Cybersecurity experts also consider multi-factor authentication a must-have. Whenever you need to use your password, a confirmation will be sent to your phone or email. Since only you have access to both your password and your phone/email, unauthorized parties will be prevented access.
2. Storage encryption
Data leaks are costly and can damage any startup’s reputation. Because your business handles private customer i ..
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