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

The cost and benefits of developing a cybersecurity program in business depends on a lot of different things. For small businesses they don’t have but so much money that they can sit here and spend on developing a very strong cybersecurity program. For a big business they do have more money on spending on developing a strong cybersecurity program and it won’t affect them so badly with giving 20% of their money to this. You look at large companies like Microsoft that spend $1 Billion dollars on cybersecurity, but that is because they have the money to and they know how important it is nowadays to make sure your business is secure with all of these attacks that happen. A lot of businesses spend about 10% of their funds on cybersecurity for their business, but In my opinion I think that they should spend way more money with how the world is now. Such a good setup of a cybersecurity program can cost a business anywhere from 50k-60k a year which is hard for some to be able to do with how much they are bringing in. Developing a program like this for business does bring a lot of benefits. Not having such a strong secure cybersecurity program for your business is very risky. It may cost a lot of money but it is worth it in the long run. I would rather spend more money on this than not, because if you were to have an attack happen it could possibly be so bad that it shuts down your business for good. The risk of not having your security be good enough is not worth taking. There are people every day that are looking at ways to destroy your business just for the fun of it, not even to take money from you.

Source:
https://www.scarlettcybersecurity.com/how-much-does-cybersecurity-cost#:~:text=The%20average%20cost%20of%20an,%2C%20security%20tools%2C%20and%20staff.