Many small businesses believe penetration testing is only beneficial to larger companies. However, did you know that the majority of cyber-attacks happen to small to medium sized businesses?
By ignoring penetration testing, you could be putting your small business at serious risk. Here we’ll look at the dangers of ignoring this vital testing.
The financial costs of ignoring penetration testing
The biggest danger of ignoring penetration testing is the potential financial costs you could end up facing. Not only will you need to cover the costs of a potential claim against your company, but you’ll also need to pay to fix the breach, along with the financial costs of building your reputation back up.
It’s been reported that cyber-attacks cost businesses in the UK a staggering £34 billion every year. To break it down a little further, the average small business can end up paying £310,800. That’s a lot of money that most small businesses don’t just have lying around!
The actual costs will depend upon the severity of the breach, whether customer data has been exposed and whether it caused the systems or network to shut down. It’s far more cost-effective to pay a company like Nettitude Ltd, for penetration testing services.
The damage to your reputation
While the financial implications of a security breach are bad enough, don’t forget the damage it could cause to your reputation. This is especially true if the breach involved customer or client data.
Legally, your customers and clients need to be informed about any breach which could have exposed their personal details. This is unlikely to go down well! If it manages to hit the headlines, you’ll suffer an even bigger dent to your reputation; something that could take years to rectify.
The damage to your reputation will ultimately lead to a potentially large loss of customers, your sales will drop dramatically and your profits will in turn greatly reduce. Some small businesses would find it impossible to recover from the repercussions of a cyber-attack. So, it makes sense to protect yourself with such an effective process as penetration testing.
Overall, you may think that penetration testing is a waste of money, but in fact it could be the one thing that stops your company closing down. However, if you do take advantage of penetration testing, it’s important to make sure you follow up and fix any issues detected.