Cybercrime is an enormous and growing problem with many experts stating that it is the biggest threat to businesses. Additionally, the pandemic has actually led to a sharp increase in cybercrime with so many people now working from home along with increasable advanced phishing attacks that look to take advantage of the difficult and fast-changing situation. There is also a large cybersecurity skills gap which needs to be addressed and businesses need to take action against this.

The Gap

The cybersecurity skills gap is a cause for concern in a time where cybercrime is on the rise and such a big threat to businesses. It is easy to assume that this could be left to IT professionals, but studies show that just 10% of IT professionals have cybersecurity skills which manes that 58% of hiring managers put information security as their most required skill. 

Problematic for Businesses

A skills shortage in cybersecurity is problematic because it means that businesses are vulnerable to threats, which are also becoming increasingly advanced. A survey found that 76% of business owners felt that the skills shortage has created additional risks for their organization and these will only get bigger with people continuing to work remotely and the threats becoming more advanced. The same survey revealed that 68% of respondents struggled to recruit and retain cybersecurity talent and it is estimated that more than 4 million professionals would be needed to close the global skills gap.

Financing to Cover the Costs 

Recruiting cybersecurity professionals and providing them with ongoing training can obviously be at a large cost to your business. It is for this reason why you could look into financing with a business cash advance from a specialist like Nucleus Commercial Finance, which can provide you with the financing required to secure and train the best talent with lending all based on your future revenue. This flexibility is helpful, particularly in a time where revenue could be affected by the pandemic (and Brexit).

Investing in Talent

From a business point of view, it is important that you invest in current cybersecurity talent so that you can find the best ways to protect your business. Obviously, you need to be able to provide them with a competitive salary, perks and an enjoyable working experience, but you also need to think about continuous learning as cybercrime is constantly changing and developing. 

It is clear that there is a major skills shortage in cybersecurity, which is problematic in a time where cybercrime is on the rise. Businesses need to think about how they can protect their business by recruiting talented cybersecurity professionals and provide ongoing training so that they can stay up to date and protected against the latest threats, especially if the business has switched to remote working. 

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