Colden Company recently attended the MSP Summit in Atlanta. This conference is one of the largest technology conferences globally and is combined with the MSP 501 awards, where Colden Company was proud to accept our award again this year. The conference helps us keep our pulse on the technology issues that matter to our customers.
Technology continues to play an essential role in the success of small businesses. Here are some of the top technology concerns every small business should be addressing:
- Cybersecurity Threats
Cyberattacks continue to be a primary concern for small businesses, even though the election cycle may have moved cyber attacks to the back pages of the news. In 2024, cybercriminals became more sophisticated, and small businesses are attractive targets due to often weaker security measures. Threats such as ransomware, phishing attacks, and data breaches can lead to financial losses and damage to a company’s reputation. Small businesses must invest in cybersecurity measures like multi-factor authentication, regular security updates, and employee training to avoid becoming a victim.
- Data Privacy and Compliance
Data privacy regulations are tightening across the globe. With laws like the GDPR and CCPA setting a high standard for how companies should handle personal data, small businesses must ensure compliance to avoid fines and legal complications. In 2024, it’s crucial for businesses to stay updated on data protection laws, implement proper data-handling practices, and protect customer information. Failing to comply can lead to reputational damage and loss of customer trust.
- Cloud Security and Management
With the growing reliance on cloud services for storage, collaboration, and business operations, cloud security has become a significant concern. Many small businesses are adopting cloud solutions due to their scalability and cost-effectiveness. However, managing cloud security is crucial to avoid data breaches and downtime. Small businesses should ensure proper cloud management, encryption of sensitive data, and regular backups to minimize risk.
- AI Integration and Automation
Artificial Intelligence (AI) is reshaping industries, offering businesses opportunities to automate tasks, enhance customer experiences, and gain insights from data. However, for small businesses, the challenge is identifying which AI tools are most relevant and cost-effective. Colden Company recommends talking with your line of business application providers to understand the roadmap for artificial intelligence. This is where it can be of great value – where your data is.
Addressing these technology concerns can help small businesses thrive in 2025 while staying secure and competitive in an increasingly digital marketplace.