What are the costs and benefits of developing cybersecurity programs in business?
It is very important for business to have cyber secuirty setup properly to ensure that they are safe from cyber attacks. There are many benefits for developing cybersecurity programs in business, one being that it saves businesses money, 40% of small businesses experienced around eight hours of downtime as a result of a cyber attack and in total, this costed them around 1.5 million dollars in losses. The more cyber attacks that a business encounters, the less trust worthy they become to their customers because they will not trust that business with there personal information if they can not keep it safe. Although having cybersecurity programs in place is extremely important, there are a few cost as well one of which includes actually developing the program. A business must know exactly what they need from a cybersecurity program and then they must hire someone to come in and install it into their systems. Another cost would be keeping up with the cyber secuirty program, businesses must keep up to date with the latest updates for their programs to ensure that they are safe for their employee’s and customers. Overall, there are many benefits and cost to developing cyber secuirty programs, but in the end the benefits outweigh the cost and it is vital that businesses have strong and up to date cyber security systems.