Cyberattacks targeting businesses have steadily increased in the last couple of years. Shockingly, large companies are not the only target for cybercriminals. Nowadays, even small businesses are in danger. Recent studies show that 48% of small businesses around the world have experienced a cyberattack in 2023. The numbers for the United States alone are even more dismal because 73% of small businesses have been targeted by cybercriminals in the last 12 months.
Every security breach can negatively impact the relationship and trust between small businesses and their clients. Therefore, having safety measures in place and monitoring the network for potential issues is the key to building and maintaining your target audience. So, what should your small business do to prevent cyberattacks? Keep reading to find out!
Why do cybercriminals target small businesses?
Businesses of all sizes are constantly in danger of security breaches, but cybercriminals seem to favor smaller organizations. There are several reasons for that, so let’s talk about them:
Vulnerability to attacks
Large companies often invest quite a lot of time and money into cybersecurity, which means that hackers see them as serious challenges. Small businesses, on the other hand, don’t have endless resources to hire cybersecurity teams or even have the proper software to keep their network and website safe.
Bigger likelihood of paying a ransom
While hackers still go after large businesses with ransomware attacks, small businesses are usually the ones willing to pay to continue their everyday operations and access the data. Ransomware is easily distributed through social engineering attacks, which means employees of small businesses need to be tech-savvy and learn how to recognize online threats. Unfortunately, smaller organizations often have limited budgets for cybersecurity courses and training.
Easily obtained data
Small businesses might have fewer clients than the big players, but that doesn’t mean they don’t have valuable information that cybercriminals can’t exploit. Customer data is often the primary target of cyberattacks because it contains financial information. Hackers may also use personal data for identity theft.
How can businesses protect user data?
Security breaches and cyberattacks could have a massive impact on the growth of small businesses. After all, their success depends on building connections and trust with their customers. If a business fails to protect its sensitive data, chances are they will soon lose the loyalty of the audience. So, what can businesses do to protect user data?
Encryption
Businesses commonly use encryption to protect sensitive data stored on their servers. Of course, several types of encryption can be used, depending on the data that needs protecting. For instance, file-level encryption is perfect for cloud-based resources because it safeguards the information during transit.
Employee training
Human error is frequently the reason behind many security breaches. Hackers are well-versed in social engineering and will try various methods to reach their goals. Therefore, small business employees should be more aware of common cybersecurity threats such as phishing and malware. Recognizing fake links and email attachments is crucial for protecting sensitive data.
Security tools
Antivirus software that is regularly updated can be quite useful for safeguarding information. Other tools like ads blocker are also recommended because malvertising is more common than you think. An ads blocker will stop an ad from appearing on a screen, which lowers the possibility of someone accidentally clicking on the link. Showing interest in cybersecurity and learning about various security tools can bring instant improvements.
Software updates
You should always keep your software up to date because each new version often comes with important patches that fix potential vulnerabilities. Cybercriminals search for outdated software to exploit, so it’s necessary to be one step ahead. Enable automatic updates where available, but be ready to manually update some apps.
Backups
Backups are essential in the case of ransomware because they enable you to access data and continue working even when dealing with a cybersecurity breach. Not to forget that businesses sometimes lose files and information after a cyberattack, so it’s better to have a backup ready. Remember to backup your files daily or set a scheduled update at the end of your workday.
Strong passwords
All your employees should have strong passwords on devices they use for work. Two-factor authentication is also highly recommended. If you are unsure about how to come up with strong login information, use numbers, symbols, and upper and lowercase letters. The password shouldn’t be short. Of course, it is often difficult to memorize complicated login information, so try using a password manager.
Some final thoughts
Cybersecurity is crucial for businesses of all sizes, especially for small organizations that are often the target of cybercriminals. By investing in proper security measures, small businesses can protect their sensitive data and build trust with their clients. Remember, a single security breach can negatively impact your business’s reputation and relationships with customers, so it’s better to be proactive and take preventive measures to safeguard your digital assets.
