{"id":13991,"date":"2023-11-20T15:02:10","date_gmt":"2023-11-20T15:02:10","guid":{"rendered":"http:\/\/TheNextWeb=1401588"},"modified":"2023-11-20T15:02:10","modified_gmt":"2023-11-20T15:02:10","slug":"why-security-compliance-is-no-longer-a-nice-to-have-for-uk-startups","status":"publish","type":"post","link":"https:\/\/www.londonchiropracter.com\/?p=13991","title":{"rendered":"Why security compliance is no longer a nice to have for UK startups"},"content":{"rendered":"\n

Security compliance (and particularly ISO 27001<\/a>) is like the project in school you had the whole year to complete \u2014 and ended up starting in a panic the night before.<\/p>\n

Given the time, resources, and complexity of completing the certification, it\u2019s one of the things startup founders<\/a> are most likely to put off for a later date in favour of growth-focused tasks like sales and product development.<\/p>\n

What many don\u2019t realise is that security compliance not only has a big impact on your company\u2019s resilience to security breaches and data leaks but also your bottom line.<\/p>\n

If you\u2019re experiencing these signs, it might be time to start building your own security compliance programme:<\/p>\n

1. You\u2019re unable to close deals<\/h2>\n
\n
<\/p>\n

Get your ticket NOW for TNW Conference – Super Earlybird is 90% sold out!<\/p>\n

Unleash innovation, connect with thousands of tech lovers and shape the future on June 20-21, 2024.<\/p>\n

<\/a><\/div>\n<\/div>\n

According to the UK\u2019s Cyber Security longitudinal survey, it\u2019s not the potential for cyberattacks that\u2019s driving SMEs to obtain security compliance. Instead, more and more are finding that it\u2019s become a contractual requirement to work<\/a> with public sector bodies and large companies.<\/p>\n

With cyberattacks on the rise across the UK<\/a>, established brands are becoming much more vigilant about who they decide to do business with. In some cases, meeting security compliance criteria is essential just to bid on a contract.<\/p>\n

More mature organisations will often require potential vendors and partners to be compliant with some of the main cybersecurity<\/a> standards. As your business begins targeting larger enterprise deals, sales teams will often face difficult security questions and closed doors when expectations aren\u2019t met. This can block your business from the revenue boost it needs to move from startup<\/a> to fast-growing scaleup.<\/p>\n

2. You aren\u2019t following common best practices<\/strong><\/h2>\n

Have you noticed your security practices differ greatly from your competitors and partners? Organisational inertia, process friction, and complexity make it difficult to introduce change once your business is already established. That\u2019s why implementing the right processes from the start will save you a lot of time, headaches, and ultimately money.<\/p>\n

3. Increasing regulatory or social pressure<\/strong><\/h2>\n

Security regulations are continuously changing. If you\u2019re in violation of a security standard, you could be at risk of being hit with a significant fine. Not only will this impact your finances, it could also slow down your business operations until changes can be made.<\/p>\n

This is particularly the case if you\u2019re in a field or area that\u2019s highly contentious, high risk, or potentially viewed with a high level of scepticism. Keeping up to date with security compliance measures ensures you\u2019re also up to date with the latest regulations.<\/p>\n

4. You\u2019re unable to answer security questionnaires fully or transparently<\/strong><\/h2>\n

Whether you\u2019re communicating with current or potential customers, not being able to answer questions about your security is a sign of business immaturity and a red flag for prospects.<\/p>\n

At the same time, having a strong security programme in place is becoming a new selling point for UK startups, helping them to fend off cyberattacks and build trust with new customers.<\/p>\n

Making security compliance your competitive advantage<\/strong><\/h2>\n

According to the UK\u2019s National Cyber Security Centre (NCSC), ransomware attacks and data leaks are on the rise<\/a> with UK businesses suffering major losses.<\/p>\n

While it was long thought that large enterprises were the main target of cyberattacks, the UK\u2019s startups are experiencing a rapid uptick in security concerns and data breaches. According to a study by Vodafone, more than half (54%) of SMEs in the UK had experienced some form of cyberattack<\/a> in 2022, up from 39% in 2020.<\/p>\n

Despite the worsening security landscape (and the potential for fines), a government survey found only 32% of UK businesses<\/a> have one or more security certifications.<\/p>\n

\"Break
<\/i><\/a>Source: The Cyber Security Longitudinal Survey 2022<\/a><\/figcaption>