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As the threat of cyberattacks escalates, businesses of all sizes find themselves in the crosshairs of new threats and savvy cybercriminals. However, many small business owners think that their size makes them a less likely target.
This is not the case.
Small businesses are not only vulnerable but are often a priority target due to their limited size and scope of security defenses.
In fact, a recent study reported that 43% of data breaches involve a small business. These attacks include malware, ransomware, brute force and social attacks that can single-handedly take down a company.
Just recently, several new disturbing stats on small business cybersecurity came out, including:
· 51% of small businesses have no cybersecurity measures in place at all.
Small businesses must prioritize cybersecurity, as ignoring these risks is not an option. Proactive measures are necessary to ensure resilience against the growing tide of cyber threats.
Be Aware of New Threats
Deloitte's Future of Cyber Report 2023 showed that 91% of organizations have faced at least one cyber incident in the past year, underscoring the global concern over cybercriminals, cyber terrorists, and hacktivists.
A data breach occurs when sensitive, protected, or confidential data is accessed or disclosed without authorization. Phishing, malware, and other tactics are used to execute these breaches. New technologies make initiating an attack so easy that amateur cybercriminals can pull off a break with little to no experience.
The consequences of data breaches for small businesses can be severe and multifaceted. Financially, they face direct costs like fines and legal fees, and indirectly, they suffer from reputational damage and loss of customer trust. Legally, breaches often mean non-compliance with data protection regulations, which can lead to further penalties.
This recent Forbes article advised small businesses to adopt continuous learning to keep pace with evolving cyber tactics and implement stringent financial transaction protocols to mitigate risks and protect sensitive information. Given their resources, small businesses must understand these threats to adequately prepare and respond.
Develop Prevention Strategies
Awareness is a critical step to defending your small business from cyber threats, but so are prevention and action. Small businesses must implement robust security measures to combat various cybersecurity threats that can put a company out of business.
So, where do you start?
Part of our approach to helping small businesses involves integrating Cisco Meraki solutions to create secure network environments. These solutions provide streamlined security for digital infrastructures, significantly reducing the risk of data breaches through advanced protections like threat detection and unified threat management.
For small businesses looking to deepen their understanding and enhance their cybersecurity measures, take a look at our "Complete Guide to Cybersecurity Implementation" to learn more about the comprehensive strategies and solutions tailored to protect your business effectively.
Contact Us
Let Focus Technology help you move along the path to digital transformation. Reach out to us today.