Cloud Security Without Breaking The Bank - For SMEs & Startups

The global pandemic of 2020 caused by Covid-19 was not the only pandemic that hit the whole world, especially the business world. The global world was hit by cloud computing because cloud computing offered a more affordable way to store data, optimise cost and improve scalability. Zippiastated that In 2020 alone, 61% of small businesses migrated their workloads to the cloud with the average employee using 36 cloud based services daily.

Companies of all sizes and sectors were hit by cloud computing adoption including Small Medium Enterprises (SMEs) and Startups.

Small businesses and startups operate on a very small scale with limited resources. Usually, strengthening their cloud security infrastructure is not as prominent as building a business. A report by CyberPeace Foundation reveals that nearly 47% of SMEs have no clue about managing cyber risks. In addition, about 60% of such small enterprises that turn victims of security breaches go out of business within six months.

SME owners and entrepreneurs often have difficult decisions to make, and cloud security becomes an afterthought to them. The truth is, every business owner must be aware of cloud security threats, regulatory compliance, and the company’s cloud security posture to assess where existing vulnerabilities may exist and could make them a target of bad actors.

With limited resources and an aforementioned back-seat prominence to cloud security, how then can SMEs protect their businesses from cyber attacks? How can they implement cloud security policies and solutions without breaking the bank? In this blog post, we will dig deeper into how Startups & SMEs can achieve just that.

Cloud Security For Startups And SMEs?
The security landscape is rapidly changing, and startups and SMEs are particularly vulnerable to cyber-attacks. In a study by Strondm, it was revealed that in 2020 alone, there were over 700,000 attacks against small businesses, totaling $2.8 billion in damages. The study also showed that 75% of SMBs could not continue operating if they were hit with ransomware.

Cloud security is becoming an increasingly important concern for small and medium-sized enterprises (SMEs) and startups as they look to leverage the benefits of cloud computing while protecting their data and systems from threats. However, as we’ve mentioned, many SMEs and startups face unique challenges when it comes to securing their cloud environments, particularly when it comes to budget constraints and limited resources.

One of the key benefits of the cloud for SMEs and startups is the ability to access powerful technology and infrastructure without the need for significant upfront investment. This can be especially appealing for businesses that are just starting out and may not have the budget or resources to invest in on-premises IT infrastructure.

However, it's important for SMEs and startups to recognize that while the cloud can offer significant cost savings, it's not a replacement for proper security measures. Without the right security controls in place, businesses risk exposing their data and systems to threats such as cyberattacks, data breaches, and unauthorized access.

It is therefore essential that startups and SMEs take the necessary steps to secure their cloud environments and data. Securing your cloud environment will include a collection of procedures and technology designed to address external and internal threats to business security.

How Startups And SMEs Can Implement Cloud Security?
So, how can SMEs and startups ensure that their cloud environments are secure without breaking the bank? Here are some key considerations:

• Understand your security needs:
  It's important for businesses to understand their specific security needs and requirements before deploying any solutions. This can help businesses identify the areas where they are most vulnerable and prioritize their security investments accordingly.
• Leverage native security controls:
  Many cloud providers offer a range of native security controls and features as part of their service offerings. These can include things like data encryption, access controls, and authentication mechanisms. It's important for businesses to understand what security controls are available and how to use them effectively.
• Implement multi-factor authentication:
  Multi-factor authentication (MFA) adds an extra layer of security to login processes by requiring users to provide multiple pieces of evidence to prove their identity. This can include things like a password, a security code sent to a mobile device, or a biometric factor such as a fingerprint or facial recognition. Implementing MFA can help prevent unauthorized access to cloud resources.
• Use a cloud security posture management (CSPM) solution:
  CSPM solutions help businesses monitor and manage the security posture of their cloud environments in real-time. These solutions can alert businesses to potential security risks and vulnerabilities, as well as provide recommendations for addressing those risks. While CSPM solutions can be costly, they can provide significant value for businesses that rely heavily on the cloud.
• Educate your employees:
  One of the biggest security risks for businesses is the potential for employee error or negligence. It's important for businesses to educate their employees about best practices for securing their cloud environments and to implement policies and procedures to ensure compliance.

Wendu As Your Cloud Security Partner
At Wendu, we understand how cost intensive achieving cloud security is for SMEs and Startups, albeit, how important it is to do so. Because of this, we’ve created a special SME and Startup package where we can become long-term cloud security partners that fit into your SME and Startup budgets.

According to a survey by the Cloud Security Alliance (CSA), the average company allocates approximately 25% of their IT budget to cloud security, CSPM tools can be expensive when they are purchased out-of-the-box, and on various marketplaces. Wendu, however, providing the same quality of service and vendor support offers SMEs and Startups a more flexible pricing model that is relative to their current cloud spend; this means as the IT workloads and resources you need to secure in the cloud grow or reduce, your cloud security bill scales with it.

Wendu is an agentless cloud security and cost management platform that provides the insights needed to run a secure, efficient, lean, cost-optimised and reliable cloud. Wendu SaaS platform doesn’t just offer your SME or Startup cloud security posture management, but also cloud cost management.

To learn more about Wendu’s SME and Startup package, you can contact us here, with the message ‘Wendu SME and Startup Package’; or if you’d like to learn more about Wendu through a demo, you can request for one here, and we’ll definitely reach out to you in less than 12 hours of your request.