Cyber Security: What Small Businesses Need to Do to Stay Safe

Small and Medium Business Owners: you need to read this.

A study by Accenture estimates that 43% of all cyber-attacks are on small businesses and additional estimates state that about sixty percent of small companies go out of business within six months of a data breach or cyber attack.

Those are pretty alarming numbers.

If companies survive a data breach financially, they deal with other challenges like brand and reputation damage.

Once a ransomware attack starts, it is already too late to stop it. And this coronavirus pandemic has not helped.

According to CNBC, “Cyberattacks have skyrocketed worldwide as criminals capitalize on the confusion and anxiety surrounding the coronavirus pandemic.” The Federal Bureau of Investigation has come out to say that the number of online schemes to defraud both businesses and individuals out of money and personal data is “truly breathtaking.”

Generally, small business owners are underprepared and overconfident when it comes to cybercrimes. There’s a general feeling of “this won’t happen to me!” Though nearly half of cyberattacks are aimed at small businesses, only 37% of small business owners reported believing they are at risk of falling victim to a cyber attack. Now that companies rely on remote workers, the need for cybersecurity measures is more important than ever.

The solution is to do preventative work ahead of time to keep your company safe. Get prepared and create a robust strategy to keep your company secure.

What Small Business Owners need to do:

1. Deploy a Firewall. Firewalls manage access to all incoming and outgoing data.
2. Protect company email. This is an easy way for hackers to get into your system. Use a reputable provider you can trust.
3. Have a maintenance plan. Keep all antivirus and malware prevention software up-to-date.
4. Create an incident response plan. Know who to contact and what to do if a cybersecurity threat occurs.