Thinking your business is too small to be hacked makes you a very attractive target for a cybercriminal. Cyber terrorists understand that small to mid-size businesses often fail to prepare for the possibilities inherent in data encroachment. This has resulted in rising numbers of digital security breaches in the small business sector. This article will review the latest statistics on cybersecurity for the small to mid-size company, discuss why you should worry, and offer a resource to help mitigate the risks.
Just looking at the numbers could make any business owner lose sleep; last year cybercrimes cost us $2 trillion. The problem in part is that cybercriminals regularly change their tactics so that companies are constantly counteracting these moves in a kind of digital arms race.
Your employees add a level of uncertainty into the security equation. You may have the best firewalls, virus protection, and upgrades that money can buy, and all it takes is one unsuspecting employee to click on a phishing email to unleash malware on your organization. Estimates predict employee cybersecurity awareness programs will cost companies $10 billion annually by 2027. And, with many employees working from home, an increase in mobile malware is almost inevitable. But despite these trends, small businesses comprise just 13% of spending in the cybersecurity market; most small companies invest less than $500 annually.
But how do these statistics impact the small business owner who is a very small fish in a perceived global pond? Let’s look at the numbers to determine your risk. CPO Magazine reports:
Cyberterrorists can do more than cost you money, they can wreck a small business. But small companies continue to believe it can’t happen to them because they aren’t large enough to be a target. The reality is that, in today’s digital environments, every business is at risk.
Find a cybersecurity firm that works closely with businesses of all sizes to help mitigate the risk of a cyber breach. Consider asking experienced security professionals about a customized program that will help your company stay safe as exposure to risk continues to increase in the future. It doesn’t have to be an expensive proposition. In fact, there are a surprising number of options available to help protect even the smallest of businesses.