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Acquiring A New Business? Check Their Cybersecurity Posture

Buying a company is no small undertaking, even if the company is considered “small” by industry standards. Due diligence is a huge part of the process. Anyone considering purchasing business must review a whole host of issues with the company to ensure that they are making a good decision. Things like accounts receivable, market position, and vendor relationships should all be considered, just to name a few.

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The #1 Security Threat to Local Small Businesses

There are many types of risk in business: the risk that a new competitor will come on the market and steal market share, the risk that top staff members will jump ship for a better offer . . . but are you considering the significant risk that is associated with a cyber attack? A recent report by IBM shows that more than 77 percent of companies don’t have a cybersecurity response plan in place, a dangerous proposition when you consider that 60% of businesses that suffer a cyber attack fail within 6 months. These are pretty terrifying statistics for small to mid-size business owners, especially in specific verticals that require the capture and storage of sensitive customer data such as health and financial information.

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Essential List of Cybersecurity Terms to Know in 2019

As the digital community continues to expand to include more individuals and more devices, enforcing cybersecurity becomes more complicated. The number of opportunities and vulnerabilities for hackers to leverage is continuously growing; it is imperative for businesses to take proactive measures to protect themselves. With new terms and acronyms constantly emerging to refer to these issues, it’s helpful to make sure you and your team are on the same page with the vocabulary you use.

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