Large companies with vast amounts of data are finally understanding the importance of cybersecurity protocols and programs. Small businesses, however, are taking a bit longer to get with the times and may not be taking the issue of cybersecurity as seriously as they should be.
According to a report at CNBC, the average Cyberattack costs small businesses 200,000 dollars. 60% of small businesses have to close their doors within six months of suffering a breach if they are not prepared.
If you own a small business, you may be making cybersecurity mistakes without even realizing it. Below are just a few examples of the worst beliefs that small business owners may have and mistakes that are commonly made when comes to cybersecurity.
“My business is too small to be a hacking target.” – Although the hacks and data breaches we typically hear about in the news are those affecting huge companies (a topic we wrote more extensively about last week), small businesses are still profitable and somewhat easier targets for hackers. According to Insurance Carrier Hiscox, 47% of small businesses had at least one cyberattack in 2018, with 44% of those had two to four attacks. 65% of small businesses fail to act following a cybersecurity incident.
With large companies comes a large security budget, which means they have the resources to hire IT professionals and cybersecurity systems to protect themselves. Breaking into these systems can be rather difficult and time-consuming for a cybercriminal, which is why many choose to focus on targeting small and medium-sized companies. Though the loot may be less than an enormous company, there is much less resistance and time wasted. No matter the size of your company, never forget that you are a target.
- “You can just use my password.” – Smaller companies tend to form quite the comradery in the workplace, which can lead to a false sense of security when it comes to things like the sharing of passwords. When you share passwords, you lose the ability to track accountability and open your company up to a world of threats. Instead, take the time to create the necessary user accounts and levels of access to safeguard your data.
- “We don’t have time to update that software.” – There are new software vulnerabilities discovered every single day and hackers are taking advantage of them as soon as they can. When you forgo immediately updating your system when the fixes are released, you are putting out the welcome mat for cybercriminals and offering up your data.
- “Check your email when you find Wi-Fi.” – Sometimes small business employees find themselves having to do overtime or from places other than the office to meet the needs of their clients as their teams are smaller. This becomes a problem when the business does not have a policy for device or Wi-Fi use as public Wi-Fi is simply not safe. If it is used to access things like business file servers or corporate email on a compromised network, information can easily be stolen. Instead, make sure that your employees never connect to the company network via public Wi-Fi unless they are using a VPN.
Small businesses: We are sorry to be the ones to have to tell you, but you are not immune to the cyber threats of today’s security landscape. If you’re ready to finally get your employees trained and prepared to protect your information, learn more about our CyberSAFE program here.