The article highlights the crucial need for Canadian entrepreneurs, especially in small and medium-sized businesses (SMBs), to prioritize cybersecurity as an integral part of their operations. Despite common misconceptions, SMBs are prime targets for cybercriminals due to insufficient defenses. The article stresses the severe implications of cyberattacks, including operational disruptions, sensitive data loss, and substantial financial penalties. The partnership between Startup Canada and Mastercard seeks to empower entrepreneurs by providing necessary knowledge about cybersecurity, underscoring that it should be viewed as a strategic necessity rather than a mere technical expense.
A successful cyberattack can lead to severe business interruptions, loss of sensitive data, and hefty financial consequences, making cybersecurity a critical strategic advantage for SMBs.
SMBs often mistakenly think they aren't targets for cybercriminals, but this misconception puts them at a heightened risk due to their lack of defenses.
With the average ransom paid by Canadian businesses increasing by 150% in two years, the financial implications of cyberattacks are becoming critically significant.
Startup Canada, in collaboration with Mastercard, emphasizes that cybersecurity is not just a technical expense but a crucial component for building resilient businesses.
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