Why do Startups need to Invest in Comprehensive Security Systems in Dubai?

Security, cyber security, in particular, has become a massive concern for startups in this new decade. A data breach or a break-in involving the theft of computer devices can have huge financial, reputation, and legal ramifications for businesses that are just getting started.

In 2019, the World Economic Forum, in its annual ‘Global Risk Report,’ listed data breaches as the fourth-most serious business risk. If well-established businesses are having trouble securing their data, how can startups cope? With cyber crime rates going through the roof and the number of theft attempts against commercial properties increasing every year, startups find themselves in a precarious position.

As it is, startups have to worry about employees stealing ideas. How can they stay optimistic approach when the world seems to be conspiring against them? The short answer is investing in the most comprehensive security systems in Dubai. If startups don’t opt for a multi-faceted approach towards security, they will fail. Here’s how installing comprehensive security systems help businesses deal with common security threats –

Say Goodbye to Intellectual Property Theft

For startups, intellectual property is far more valuable than tangible properties. In simple terms, if a startup cannot protect its intellectual property, there’s a high chance that someone will swindle it and use it to launch their own startup, rendering the victim’s business useless in a few months.

Theft of intellectual property is a sweeping concern in tech startups. Surprisingly, most startup professionals don’t even realize their companies have suffered from intellectual property theft until it’s too late. Recovering from such theft is often costlier. Businesses have to –

• Figure out how business secrets were accessed.
• Discover who stole the data and when.
• Track where the data was circulated.
• Address the impact of the theft on customers, partners, and the startup’s future.
• Find out the legal steps to get back at alleged perpetrators.
• Evaluate how much competitive advantage has been lost during the process.

Doesn’t it sound like the ultimate nightmare for a startup? For the startups who weren’t equipped with the latest security system, this nightmare is a reality. To protect their intellectual properties, startups need to –

• Legally protect their ideas, data, etc., with patents and trademarks.
• Restrict access to their intellectual properties by using up to date security systems both on and offline.

Data Breach

Every business, especially startups, has vulnerabilities that can be exploited by hackers. Startups face a bigger risk as their security prowess isn’t as well-established as their experienced counterparts.

A recent report by Forbes suggests that in 2020, startups and small businesses will face a 300% higher risk of being targeted by ‘Ryuk’ ransomware attacks. This type of ransomware targets businesses that don’t have robust cyber security infrastructures. The hackers steal their files and demand payoffs to safely return the stolen data.

Data breaches targeting startups happen on a day to day basis. Some basic tenants of data security for smaller businesses include –

• Having a clear understanding of where their important data is stored.
• Ensuring that the data is encrypted.
• Giving limited members of the organization keys to this data.
• Avoid the use of account syncing or data sharing tools when it comes to business data.
• Ensuring that any data that’s stolen is indecipherable.

Since most smaller businesses don’t have the knowledge or the capabilities to implement such advanced data security or encryption standards, their best bet is to team up with third-party security professionals who’ve dealt with common cyber security threats in the past. Some of the most common cyber security threats startups face are – phishing attacks, Denial of Service (DDoS) attacks, ransomware attacks, and malware attacks.

Not appropriately dealing with these breaches can lead to

• Government penalties.
• Fines for failing to report data breaches on time.
• Loss of market reputation.
• Jail time (in extreme cases).

Apart from assuming their commercial responsibilities, startups also need to protect customer and private data responsibly.

Physical Security

If a startup has a commercial office space, a warehouse, an independent distribution facility, or a physical store – it’s likely to be targeted by thieves and vandals. That’s why a security system shouldn’t just focus on cyber security; it should offer a comprehensive set of security services including –

• Surveillance systems.
• Customized security systems that suit the startup’s commercial structure.
• Up to date cyber security solutions.
• Systems to limit access to important data or important regions of the office.
• IT security.
• Surveillance infrastructure in parking lots, key entry/exit points, etc.

Startups need 24×7 visibility to guarantee break-ins, theft, etc. An advanced video security system coupled with smart locks and alarm systems can give startups the physical security they need.

Third-party security experts can provide startups with these amenities. But, to maintain total security, startups still need to encourage their employees to take basic security steps such as – using antivirus software, regularly updating all cyber security software, using strong passwords, and providing regular staff training on the significance of cyber security in the workplace.