4 Cybersecurity Businesses that Present Opportunity

Cybercrime is one of the world’s fastest-growing threats, and potentially lucrative field for entrepreneurs looking to prevent the cybersecurity attacks. In 2016, the security industry found that 32 percent of companies across the globe reported cyber-attacks. The cost of cybercrime in just a year is between $100 and $400 billion globally. And unfortunately, this cost is expected to rise to $2.1 trillion by 2019 — according to Jupiter Research.

With the above data, there’s no doubt that cybercrime holds a significant payoff to cybercriminals, and also to cybersecurity field. A practical business opportunity is, of course, to offer cybersecurity professional business services, which are geared to help firms and organizations develop and implement safety procedures and measures that keep their data always secure. The services could typically focus on risk and threat assessment, consulting, maintenance, education, training, design & integration, cloud security, and network security.

Well, check out the following most in-demand types of cybersecurity businesses:

  1. Virtual Data Rooms (VDR)

A virtual data room is a highly secure internet database in which companies and individuals store and share sensitive information. Conventionally, the information stored in a VDR is about confidential financial records, private negotiations, mergers and acquisitions, tax, trade secrets, copyright works, and intellectual property.

No business serious about carrying out pertinent business dealings with external parties in this digitally dependent world opposes the idea of security and privacy. So, venturing into a business which provides professional services that ensure such data in the data rooms remains secure and safe from cybercriminals is, without a doubt, a great opportunity.

  1. Advanced Penetration Testing

Having a cybersecurity protection in place is extremely important, but with hackers advancing their techniques by the day, you may not be safe from all threats. Did
you know that today’s hackers can even attack security cameras, door locks, HVAC systems, copiers, scanners, and physical assets? Well, doing this helps them to get access to the valuable business information.

To get proactive about cybersecurity risks, businesses must embrace the Advanced Cyber Penetration Testing. With professional testing from highly trained experts, it becomes a lot easier to identify the susceptibilities and provide their IT team with recommendations on how to mitigate the risk.

  1. Network monitoring

Providing ongoing network monitoring solutions designed to create a more efficient and secure environment is another lucrative cybersecurity business. Cybercriminals will, often than not, strike when companies are not ready for an attack. To be constantly vigilant to guard businesses against these attacks, firms and governments should have a cyber-security network monitoring system in place. This will enable them to keep track of their data and detect possible security breaches on their network at the earliest possible moment, and then enact a contingency plan.

  1. Identitytheft protection

As the online retail transactions increase, there’s rapid rise in business identity theft — which puts every firm at serious risks.
Identity thieves can use the company’s publicly available EIN, social security number, and state registration records to hack business accounts and destroy personal credit and finances. This does not only affect the businesses, but
also employees, suppliers, as well as customers. And such a theft can leave a firm with legal liabilities, huge debt, loss of income, and tax consequences.

Savvy businesses are aware of this fact and, as a result, there has been an increased demand for identity theft protection services, especially in mobile-optimized applications.
Basically, these types of services involve the use of advanced software systems for personal identification data and identifying suspicious credit card
activities.

Why constant data breaches despite having an increased number of companies stepping up to curb cybersecurity risk?

Well, while the number of professional cybersecurity companies to fight cybercrime is constantly growing, humans still play a key role in increasing the risk of data breaches and other interferences. We as humans have the habit of assuming most of the cybercrime risks, thinking they are less important than they really are. Unfortunately, with our careless habit, we end up alluring hackers to continue compromising our data.

Conclusion

It’s important that every business owner knows that they’re at risk and realize that they can be attacked at any time. Firms and organizations are, therefore, advised to develop comprehensive cybersecurity strategies and ensure every stakeholder is part of the plan. Also, seek advice from professional cybersecurity companies out there, when necessary to stay safe.

  • Dongha is a freelance writer, editor and content developer. Giving the needed information to people in all areas. Contact me if you need help.