Small Business Can't Sacrifice Cybersecurity

For small businesses, it can be tempting to postpone cybersecurity efforts. There are many common excuses: "There's so much to do," "There's not enough budget," "Our business is too small to target," etc. But right now, cybersecurity is a must-have for every business.

Think of it like business insurance. You don't intend to get sued or have accidents, but you have insurance to cover if the worst happens. Similarly, having cybersecurity in place:

• saves you time, money, and stress;
• protects your business IT against damages;
• provides you and your employees with peace of mind.

But small businesses are not only at risk of cyberattack. According to a study released in March 2022 by cloud security company Barracuda Networks, "on average, an employee of a small business with less than 100 employees will experience 350% more social engineering attacks than an employee of a larger enterprise." That makes small businesses three times more likely to be targeted.

In fact, your business may already have been attacked. The Barracuda study found that one in five organizations had at least one account compromised in 2021. And hackers need only one account to launch from. An attack can spread without you knowing if you don't have the right detection and protection tools in place.

Advice for small business leaders

Digital attacks are on the rise, and you're going to need help. A report from Blackberry in February suggested that "one million daily security alerts are seen in 25% of security operations centers."

But you don't have a security operations center, right, let alone one that can process a million alerts daily. Investing in cybersecurity gives you access to that type of security reporting, plus much more.

Hackers target small businesses because they expect them to have fewer IT resources. That can mean more weak points for bad actors to exploit.

At least you are keeping your software current and patching vulnerabilities with any manufacturer updates, right? And your business probably also uses antivirus and emailing filtering. Yet, traditional email filters are no longer enough: you need to invest in additional security resources.

Take the target off your back

So, we're back at the beginning again. Investing in cybersecurity is now on your wish list, but you can't see how you can afford it right now. But you can't afford not to really. According to the Australian Cyber Security Centre, "Australia spent approximately $5.6 billion on cybersecurity in 2020, and self-reported losses from cybercrime totalled more than $33 billion."

Plus, you don't need to do everything from scratch and buy all the necessary software and hardware yourself. Instead, you can work with a vendor to take advantage of economies of scale. Invest in a cybersecurity partner who will do a full risk analysis to find the main vulnerabilities in your business IT environment.

Partner with someone who works to secure many small businesses like yours. They'll be the ones investing in supplemental technology with machine-learning security to protect against all types of email. They'll know how to put the right protection tools in place, and they'll also have the skills to detect and respond to threats post-delivery.

The damage caused by one compromised account can be devastating for a small business. Don't risk the worst happening: protect your cybersecurity with the help of a managed service provider. We can identify any weak points in your cybersecurity and help put safeguards in place to defend your business. Contact us today at 903-347-0073!