Every single business has some level of risk that its business owners need to understand and manage in order to be successful. There are risks related to financing, office space, staffing, supply chain, inventory, and physical security – just to name a few. Cybersecurity risk is a subset of overall business risk, and in 2021 (and 2022!), it can represent a significant percentage of all the risk that a business owner will have to understand and manage.
Owners and proprietors of small businesses today are often at a disadvantage when the topic of cybersecurity risk arises, for three very important reasons:
-They are often unaware of all the areas of risk involved.
-Risk management failures are often more devastating for a smaller business.
-The pandemic has added computing challenges that also add cybersecurity risk.