For any business, security should always be a top priority. All businesses make sure they protect their physical assets, but too many small businesses tend to ignore their digital security. Some thieves may want to steal physical assets or cash, but others want to steal information, which can be far more devastating.
This is why cybersecurity for small businesses is so important. So, Let’s look at how cybersecurity breaches impact smaller enterprises and how we are perfectly positioned to help you shore up your digital defences.
Digital Dangers Facing Small Businesses
These days, the threat of a cybersecurity breach often far outweighs that of a criminal breaking in and making off with the valuables. Obtaining financial information and access to accounts and payments can leave your business helpless.
Hackers usually follow two paths to get what they want from your business. On one hand, they may use hacking software designed to guess passwords or get around login screens. This software is designed to bombard systems and overwhelm them until they break, or a crack is found that can be exploited. However, simply using a top-notch anti-virus program and firewall is often enough to prevent most of these types of attacks.
The other, far more effective methods fall under the category of “social engineering.” This is the process of tricking internal employees into revealing information, granting access, or installing software that gets the hacker the information they’re looking for.
Social engineering has come a long way over the years, and it can be difficult to spot bad actors. Things such as receiving an urgent email from your boss to send a quarterly report or remind them of a password are designed to fool unsuspecting team members into giving up information. Some emails even have links or attachments that automatically install malicious software and give the hacker complete control over the person’s computer or smartphone.
How Cybersecurity Issues Impact Small Businesses
It can be tempting to think that cybercriminals only go after large enterprises since there is so much more value to be stolen. Why would a hacker spend their efforts trying to attack a small business when there are bigger fish in the sea?
The reality is that larger companies are, in fact, often the target of cyberattacks. However, these attacks are far less successful due to the fact that many large businesses have the software and protocols in place to protect themselves. Small businesses are far more numerous and have far less protection in general, making them prime targets for attacks.
In fact, 43 percent of breaches are connected to small businesses.
Plus, a big company often has the insurance, assets, market share, and cash reserves to come back after a breach. Smaller companies often lack these resources, meaning that a breach is far more devastating.
Breaches are extremely expensive to clean up, when you factor in repairs, appeasing angry clients, fines, ransoms, and lawsuits, it adds up quickly.
But that’s not the only cost of a breach. Businesses are built on trust, and that trust can evaporate after a cybersecurity breach. For a large company, that may be something that can be regained. However, a smaller organization may not be able to do the same.
Enhance Cybersecurity for Small Businesses
Since cybersecurity breaches are so prevalent and can be so devastating, it’s important to be aware of the ways you can protect your small business against these types of threats. Here are just some of the tools you need to have when facing cybersecurity risks that plague small businesses:
Education: For both the business and the hackers, their greatest asset is the employees. As we mentioned earlier, hackers usually try to deceive uneducated employees into taking actions that hurt the business and help the criminal. Training your teams to recognize these scams and take the right actions is your primary defence against cybersecurity threats.
Software: Having a comprehensive Antivirus & Endpoint Protection program installed across the organization is critical to avoiding software-based attacks.
Backups: Many cybercriminals work to gain control of critical documents and hold them for ransom. There are estimated to be more than 500 million ransomware attacks every year. By backing up your systems regularly, you never have to worry about having to pay to get your files back.
Network Security: It may seem obvious, but many small businesses fail to adequately protect their networks, including their Wi-Fi connection, allowing anyone in range to access their network without issue.
How Stroudy IT Can Help
We’ve helped countless businesses of all shapes and sizes across various industries improve their security posture. From an initial consultation, or a free audit, we can provide actionable steps and solutions, we offer the full suite of essentials that strengthen cybersecurity for small businesses, thereby bringing your organization up to industry standards. Combining our layered comprehensive security software with effective training for your teams will give you the best protection against possible breaches. Speak to us today to find out how we can give your small business the tools necessary to face the digital age with confidence.