Is Cyber Security Awareness Training Important to SMEs?

Cyber Security Awareness training should be a top priority to SMEs. Gone are the days when we assumed hackers were interested in big corporations only. They already know that SMEs make the least effort when it comes to cyber security.
A recent incidence, hackers gained access to a company’s email through and email purporting to be from DHL with a malware embedded link. After gaining access, they sent emails to the contact list requesting them to update to the new bank details. Some of their clients who received the email were keen to notice a slight difference in the sender’s email, while some adopted the changes without any suspicion. 
Fast forward, the example above shows multiple human errors that cost the companies involved. Those who adopted the new bank details were not keen enough to notice the sender’s email was not the usual. The above can be avoided by training employees on how to be on the lookout. So, how necessary is it to take employees through a cyber security awareness training?

1. The statistics are pressing. Negligent employees, contractors and third-party vendors represent the cause of over half of all enterprise data breaches. And sometimes it’s hard to rule it as negligence if at all the employee is not trained. For employees to be accountable, it has to stream from the company’s management. We just can’t afford to ignore cyber security training. It’s like waiting for a fire accident to happen so that you can train employees on fire safety and response.
2. One training is not good enough. Congratulations on doing one cyber security training a couple of years ago -Now, you’ll need to make the training regular. Hackers keep changing tactics all the time. Your employees need to be aware of new trends and tricks, otherwise, the one-off training will be in vain.
3. Small businesses are not targets lie; Most SMEs make that assumption, without realizing that they are decent targets. Hacking will also cost your business credibility. Customers don’t want to engage with a company they can’t trust. Honestly, would you fill in your personally identifiable information(PII) on a website or company that has had a data breach before? I don’t think so. 
4. Hackers are becoming smarter. Frequent training will keep employees updated with new tricks and tactics used by hackers. You’d rather be safe than sorry.

In the coming year, as you budget for training, let cyber security awareness be on the list. Always remember that any one can fall victim, SMEs are not an exception, even when you feel you having nothing to lose. Your credibility is of utmost importance and can make or break your business.