1. What are the costs and benefits of developing cybersecurity programs in business?

While pricey, especially on small businesses or for businesses just wanting to be safe, investing in cybersecurity programs for ones business may get expensive. It requires a number of people to keep systems running, implementing software and hardware, training for personnel, time and effort, conducting risk assessments and implementing security policies, testing the programs for effectiveness, investing in recovery plans, putting in place security monitoring services, as well as a myriad of other factors that are utilized for cybersecurity. Moreover, it depends on the type of business it is. Depending on that and the field, a business has to do research on what are the most effective ways to keep it safe as there are different approaches for different fields as well as different targets for them. Now a business also had to budget and make due with how much security they want and how much they’re willing to spend for it. To have top notch cybersecurity, one would have to pay for more, compared to an averagely secure business for less.

However, while it may and can be pricey, there is a very better outcome from this. By developing cybersecurity programs for a business, it allows for it to be safe. Potentially saving it from damage that could cost more than making these programs. It keeps information confidential, stopping from potential harm of the business later on. This can boost customer confidence with the business and in turn, customer loyalty, making more revenue. This can give a competitive edge to the business in the marketplace. Through the programs, it can protect intellectual property and customer data. Moreover, by having cybersecurity programs, it allows for quicker and effective detection to threats and allow responding to those threats be quicker.