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The biggest single threat that any business faces nowadays is online. Cybersecurity risk has become increasingly sophisticated over the last decade and it often seems like a battle that has no end. 

There will always be those who wish to do harm. Businesses need to be constantly aware of the cybersecurity threats that exist and ensure they have the best solutions in place to combat them. 

According to a recent cybersecurity report:

  • Cryptojacking attacks are up a staggering 8,500% and breaches of Internet of Things devices are up 600%.
  • Major corporations have been the victim of cybersecurity attacks in recent times, including British Airways, Marriott Hotels, and Facebook. 
  • Cybercrime is expected to cause financial losses in excess of $6 trillion by 2021.
  • 43% of cybersecurity threats are aimed at small business. 

This latter statistic is important. Many small companies don’t think they are as at risk of attack as larger corporations. The truth is that they are more likely to be targeted because they are likely to have less stringent cybersecurity measures in place. 

The slightly better news is that we are now a lot more aware of the risks we face. The electronic security industry is also taking things more seriously when it comes to small business. 

What Does Effective Cybersecurity Mean?

Mitigating cybersecurity risk is not simply about having the right virus software downloaded onto your computers. Businesses need to be aware of not just the everyday online risks but the weaknesses in products and equipment they have in place and the potential danger that these may attract. 

That’s why more firms of all sizes are beginning to employ cybersecurity experts who advise on a whole range of issues and moving beyond the traditional concept of online security. The good news is that, as cybersecurity threats evolve and become more sophisticated, so the electronic security industry is beginning to respond.