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How Small Businesses Can Protect Their Organizations From Cyber Attacks

A recent survey by the U.S. Small Business Administration found that 88% of small business owners believe their business is vulnerable to a cyberattack.

The internet offers many advantages for small businesses, but it also comes with a number of risks.”
— Nick Martin
TAMPA, FL, USA, May 13, 2022 /EINPresswire.com/ -- Just because someone runs a small business, doesn’t mean they're beyond a hacker’s notice – or reach. Unfortunately, small businesses are particularly susceptible to hacks and breaches, simply because they have fewer resources and may lack the knowledge to be adequately prepared.

Cyberattacks have devastating impacts on any business, including data loss, employee downtime, and the cost of restoring operations. Data breaches often result in reputation damage, legal damages, and financial loss, with the total cost of a single data breach averaging $149,000 for SMBs.

For those with limited resources, an attack can prove fatal, causing a reported 60% of small businesses to close their doors following a cyberattack. While there are many steps that businesses can take to protect themselves from cyberattacks, no system is foolproof.

As such, it is important for businesses of all sizes to be prepared for the possibility of an attack. This means having a plan in place for how to respond to an attack and ensure that critical data is backed up and accessible. By taking these steps, businesses can minimize the impact of a cyberattack and improve their chances of bouncing back.

Basic Recommendations To Protect a Small Business

Adam Bowles with ACT360 (https://www.act360.ca) offers a few ways that one can protect their business from a cyberattack:

Educate yourself and your employees about cyber security risks and how to avoid them.
Create strong passwords for all of your accounts, and make sure to change them regularly.
Install and update anti-virus and anti-malware software on all of your devices.
Back up your data regularly, so that you can recover if you are hacked.
Be careful about what information you share online, and only share it with trusted sources.
By taking these precautions, you can help to protect your business from a costly and damaging cyber attack.

Do Small Businesses Need To Invest In Cybersecurity?

A recent survey by the U.S. Small Business Administration found that 88% of small business owners believe their business is vulnerable to a cyberattack. This is a significant increase from the 67% who said the same in 2014. The survey also found that 43% of small businesses have experienced a cyberattack in the past year and that the majority of attacks resulted in data loss and downtime.

These findings highlight the need for all businesses, no matter their size, to take cybersecurity seriously. Unfortunately, many small businesses lack the resources to invest in robust cybersecurity measures. This puts them at a distinct disadvantage when compared to larger businesses, which are often better equipped to repel attacks.

As attacks become more common and more sophisticated, it is essential that small businesses find ways to protect themselves. Dawn Bouch with TUC Technologies (https://trytuc.com/) shares, "while most people think of large businesses when they think of cybersecurity, small businesses are just as vulnerable, if not more so."

Small businesses are prime targets for cybercriminals who can easily exploit vulnerabilities because they often fail to have the resources to invest in proper security measures.

This is why it's important for the public to be aware of the risks faced by small businesses and the steps that can be taken to protect them.

Cybercrime Has Surpassed Physical Burglaries

According to a recent report, the theft of digital information has now surpassed that of physical burglary. This is a startling statistic, and it highlights the growing threat that businesses face from cybercrime.

Nick Martin with Mainstreet IT Solutions (https://www.mainstreetITsolutions.com) says "The internet offers many advantages for small businesses, but it also comes with a number of risks. Whether you use cloud computing, email, or simply have a website, you are vulnerable to attack. Cybercriminals are constantly developing new ways to exploit businesses, and the threats are constantly evolving. As a result, it is essential to be vigilant and take steps to protect your business from this growing threat."

Are Small Businesses Really At Risk?

"Yes, they certainly are!" claims Reid McConkey with Resolved IT in Vancouver (https://www.resolvedit.net)

And if one is interested in expanding their small business onto the world wide web, then it’s safe to say that a bit of education about cybersecurity should be on the menu.

Many small businesses make the mistake of thinking that they don’t need to worry about cybersecurity because they’re not large corporations with millions of dollars at stake.

However, the truth is that any business that has an online presence is at risk for cyberattacks. In fact, small businesses are often seen as easy targets by hackers because they usually have fewer resources to devote to security. As a result, it’s essential that one take the time to educate oneself about the types of threats that exist and how to protect oneself from them.

With a little effort, one can ensure that their small business is safe from the perils of cyberspace.

Stuart Crawford
ULISTIC LP
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