Cyberattacks are on the rise, and while we wish the bad guys would do something better with their skills and time, it doesn’t look like we will see a decrease in this nefarious activity any time soon.
Here’s the thing…while you may feel that your business is too small to be targeted, that simply is not true. In fact, businesses that put off cybersecurity are often MORE likely to get attacked because they are easy targets. Don’t believe me, here are a few statistics* to consider:
- 43% of cyberattacks target small businesses.
- There was a 424% increase in new small business cyber breaches in 2020.
- Human error and system failure account for 52% of data security breaches.
- 63% of confirmed data breaches leverage a weak, default, or stolen password.
- One in 323 emails sent to small businesses are malicious.
- Small businesses spend an average of $955,429 to restore normal business in the wake of a successful attack.
- 40% of small businesses experienced eight or more hours of downtime due to a cyber breach, accounting for an average of $1.56 million in losses.
- 91% of small businesses don’t have cyber liability insurance. (See this previous post about why you should.)
In addition to the damage it can cause to your business, how do you think your customers would feel about you putting their information at risk? Even if all you store about them is their contact information, hackers can use an email address to target them, creating a domino effect of problems. And if you store payment methods for your customers, the potential damage and long-term complications grow exponentially.
The time to address any network insecurities is now. No business is too small or insignificant for the bad guys to pursue. If you need help evaluating your current network, want to discuss how to create a more secure environment, or simply have questions, reach out to us to schedule a time to talk. We have helped hundreds of companies increase their cybersecurity and would be happy to help you too.
* https://www.fundera.com/resources/small-business-cyber-security-statistics
