Statistics show that cybersecurity is a legitimate threat to small businesses, but small businesses don’t always act on that knowledge. According to the 2018 Hiscox Small Business Cybersecurity Report, 47% of small businesses experienced an attack in the past 12 months. Cybersecurity is a serious concern, yet the report shows only 52% of businesses have a cybersecurity strategy.
Why don’t small businesses care about cybersecurity? It’s not fair to assume that small businesses truly don’t care about it, but they do often ignore cybersecurity concerns. Even with alarming statistics and articles on cybersecurity tips for businesses available, smaller firms seem to consistently overlook the risk of cyberattacks.
Logically, this makes sense. While cybersecurity threats can be as bad as physical security threats, the threats aren’t always obvious. While bad password protection and poor site maintenance may leave your business vulnerable to attack, there isn’t the same clear threat as there is when you leave your store unlocked or someone is suspiciously walking around your business.
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Unfortunately for small businesses, this “out of sight, out of mind” mentality can have horrible consequences. If you fail to protect your business from cybersecurity threats, you may lose critical company information while also damaging your brand and losing money. Cyberattacks can occasionally be so bad that you ultimately go out of business.
Other phishing attacks ask for more personal information, like your credit card number. It’s a good rule of thumb to avoid sending personal financial information over email. In most instances, you can share personal information with companies or people over the phone or in person. Phishing is one area where training your employees can prevent crippling cyberattacks.
Businesses should also be prepared to prevent ransomware attacks, which occur when malware infects your computer and locks it down until a ransom is paid. Using anti-malware software is a quick way to prevent these attacks. It’s a good idea to back up all files. It’s also important to never pay the ransom should your business be attacked.