Did you know that almost half of all small businesses in Australia have experienced a cyber attack of some kind in the last year, and the average cost of those attacks is $40,000 AUD?

In this episode of the Thriving Business Podcast, hosts Kate De Jong and Sam Morris welcome Peter Treneman from GroupSupport IT to discuss the critical role of IT and cybersecurity in small business. Together they explore the necessity of consistent data backups, the value of building a relationship with IT professionals and the ongoing rise of cyber attacks that are crippling small businesses across Australia. Through real-life case studies, Peter shares some of the critical ways you can protect your business from expensive disruptions to ultimately safeguard your operations and reputation.

Takeaways:

• Good IT service providers can liberate business owners from the burden of IT at an affordable cost.
• Backing up data is crucial for protecting your intellectual property and operations.
• Google and Microsoft have limitations in data recovery.
• Investing in IT support can save significant time and money in the long run.
• Small businesses are often targets for cyber attacks.
• Cybersecurity is not just a nice-to-have these days; it’s essential.
• The Essential Eight framework provides a baseline for cybersecurity in your business.
• Many businesses underestimate the cost of data breaches.
• Building a relationship with IT professionals is vital.
• Budgeting for IT security is a necessary investment.

For more information, please go to these links:

Essential 8 Framework for Cybersecurity

https://www.cyber.gov.au/resources-business-and-government/essential-cybersecurity/essential-eight/essential-eight-explained

Practical tips to protect your business

https://www.cyber.gov.au/learn-basics

Connect with the Hosts:

Kate De Jong, PhD | Inspired Business

Website: https://katedejong.com/

Instagram: katedejong.inspiredbusiness

Email: kate@katedejong.com

Sam Morris | The Business Implementor

Website: https://thebusinessimplementor.com/

Instagram: sammorris.businesscoach

Email: sam@thebusinessimplementor.com