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

Cyber attacks and other security breaches can costs millions for businesses depending on the severity of the attack. So developing a cyber security program is an essential aspect in protecting your companies property and money. Some more benefits in developing a cyber security program are that customers will have a more trust in your business and are more likely to interact with your business. Along with other benefits such as having the security and peace of mind knowing all your data and information is safe. You can easily back up your information when or if it is ever lost when you have a cybersecurity program. Cyber-attacks and data breaches can be hard for a business to recover from and having the proper plans in place to prevent an attack will help lessen the impact it has. This can also make businesses less of a target for hackers and bring more customers. Unfortunately there are a lot of costs in creating a cybersecurity program. With cyber security constantly evolving it is hard to have a consistent flow of qualified workers that are able to keep up to date on the latest cyber threats and have the know how to prevent the attacks from happening. Not only this but since cybersecurity is such a sought after job it means that it is expensive to fund a program as not only the workers would want a high salary the other costs that go into giving them the recourses to properly do their job is expensive as well. Other costs a business would have to be time and recourses, as mentioned earlier having a cyber security program would not be cheap but it would also require a lot of time and thought to develop.