Top 6 Small Business Cybersecurity Considerations
- Accept the Harsh Reality: You ARE the target, and you have far less resources to throw at the problem than the big guys.
“There was a 424% increase in new small business cyber breaches last year”
- Lock Down Access: Find your gaps and have an assessment done immediately. At bare minimum, you need a firewall/VPN and anti-virus protection.
- Regular Security Training and Education: If your employees can’t recognize spam, phishing, spear phishing, malware, and ransomware, then you are at grave risk.
“90% of all the cybersecurity breaches are phishing attacks”
“According to HIPAA, the average ransom payment in Q1, 2022 was $211,259 and the median ransom payment was $73,906”
“According to the 2019 Verizon Data Breach Investigations Report, 43% of data breaches are from small businesses”
- Passwords and Authentication: Unique and/or regularly changing passwords are no longer secure; you now need multi-factor authentication, and a password management tool.
“In the first half of 2022, there were around 236.1 million ransomware attacks globally”
“During 2021, at least 15.45% of internet users worldwide experienced at least 1 malware-class attack, which includes ransomware”
“Ransomware has accounted for around 20% of cyber breaches so far in 2022”
- Regular and Reliable Backups: Data protection and recovery will make or break a small business when disaster strikes.
“A recent survey of 400 small firms found that 27% of them have no cybersecurity protocols at all. And, 25% of them have difficulty implementing even the most basic security including routinely backing up their data”
- Cyber Insurance: Cyberattacks have become inevitable, and will incur a hefty loss, and can potentially put you out of business.
“60% of small businesses that are victims of a cyber-attack go out of business within six months”
”According to the report by Kaspersky Lab, the average cost of a breach for a small business is about USD 38,000, a hefty amount to cope up”
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