We’ve all heard of the big guys getting hacked. In 2021 alone, there were some big names reporting data breaches, including Facebook, Volkswagen, Audi, and the most damaging cyber attack of the year, the widespread compromise of Microsoft Exchange Servers. But getting hacked isn’t just big league territory. Small businesses can get hit hard too.
Small business owners who haven’t considered their cybersecurity may find themselves in some deep trouble. Cybercriminals have become even more active and empowered than ever, especially over the course of the COVID-19 pandemic. And historically, it’s much harder for a small business to recover after an attack.
Small Business Overconfidence
There are some common mindsets among small business owners, like “I’m too small to worry about and I’ve got nothing cybercriminals want.” Some small business owners think that, since their website is secured with HTTPS, it’s unhackable. Others felt security solutions were expensive and thus, didn’t budget for them at all.
Bentley University says about 36 percent of all recent targeted attacks have been made against businesses with fewer than 250 employees. Considering some 83 percent of small businesses have no formal cybersecurity plan, one could see how these enterprises could be easy pickings for cybercriminals.
“My Small Business Can Still Recover”
No matter the reason behind the lack of appropriate security, the damage done by a cyberattack can be ever-lasting. About 60 percent of small businesses close within 6 months of becoming victim to a data breach or cyber attack. Therefore, your financial security isn’t the only thing at stake; the very future of your business could be threatened.
A data breach report from 2020 indicates the average data breach costs $3.86 million. That’s significant for many bigger companies and devastating for small businesses.
How Can Small Businesses Get Hacked?
The ransomware attack is one of the more nefarious cyberattack methods gaining prominence online. In fact, cybercriminals can seize control of computers or entire networks and lock its owner out from the inside. Then, data is encrypted and a demand for money (usually in the form of cryptocurrency) is made in exchange for that data’s release.
Phishing scams also have a large impact on small businesses. We humans are the weakest link in the cybersecurity chain, and can sometimes be easily tricked into entering our login credentials in a fake form.
You can read up on other forms of malware in one of our previous blog posts.
How QuickProtect Can Help
At QuickProtect, we offer a variety of cybersecurity solutions to protect your business. With our Endpoint Protection services, we provide real-time safeguards against viruses, ransomware, and other malware. Offline and offsite backup services are another great way to protect against ransomware and the like. Your data is copied to a secure location on a regular basis and is able to be restored if your original files are corrupted.
As mentioned, humans are a weak link in any cybersecurity system. However, our team of experts can provide Employee Awareness Training for you and your staff. We can even carry out periodic mock phishing emails to test your employees’ awareness! We recommend monthly training sessions.