We’ve all seen the headlines: major corporations brought to their knees by cyber attacks. As a small business owner, it’s easy to feel a sense of relief – surely you wouldn’t be a target of computer crime, right?
Unfortunately, that’s not quite the case, and small business cyber crime statistics tell a different story. In today’s digital landscape, small businesses are increasingly becoming prime targets for cyber criminals. In fact, 43% of cyber crime targets small businesses.
Why? Let’s take a look at the reasons behind this trend, and more importantly, what you can do to improve your cyber resilience and protect your business from cyber threats.
The allure of accessibility
One of the biggest reasons small businesses are a target? They lack the resources of larger corporations, leading to weaker cyber security defences. This might mean outdated software, a lack of employee training, or even inadequate password policies. Cyber criminals see these gaps as open doors, making it easier to infiltrate systems and steal valuable data.
Hitting the data jackpot
Small businesses hold a treasure trove of information that cyber criminals crave. This includes customer data (names, addresses, credit card details), financial information, and intellectual property. Even if the data itself might seem insignificant compared to a large corporation, it can still be sold on the black market or used for identity theft or fraudulent transactions.
The chain reaction risk
Small businesses are often part of larger supply chains, working with vendors and partners. If cyber criminals can gain access to a small business’ system, they might be able to use it as a springboard to attack more high-profile targets within the chain.
The false sense of security
Many small business owners mistakenly believe they’re too small to be a target. This complacency leaves them vulnerable. Cyber criminals are opportunistic and will attack any weak point they can find.
Building your cyber defences
Some examples of cyber offences include data breaches, ransomware attacks, or even email scams that target your employees. And as a small business, you may not necessarily have dedicated resources to commit to cyber security. But there are some simple steps you can take to significantly improve your cyber resilience:
Update and back it up
Regularly update your operating systems, software, and firmware to ensure you have the latest security patches installed, and regularly back up your critical data to an external drive or cloud storage to minimise damage in case of a cyberattack.
The power of passwords
Implement strong password policies and consider multi-factor authentication (MFA) for added security.
Become a cyber wardens
This short and simple online course is an easy way to help protect yourself, and promote a culture of cybersecurity awareness within your team. It will level up your skills and knowledge on everything from avoiding phishing scams, to password hygiene, and how to identify suspicious activity.
So don’t get stuck in the mindset that your small business is too small to matter, and don’t join the small business cyber crime statistics. By taking proactive steps to strengthen your cyber security, you can become a much harder target and ensure your business thrives in the digital age.
Help protect your small business from scams and hackers with free and simple cyber security training
