Cybersecurity threats can be a serious issue for businesses of any size, but they're even more of a risk for small businesses. Small businesses tend to be the main target of cyberattacks due to their increased vulnerability. It’s estimated that 43% of all cyberattacks were focused on small businesses, increasing significantly over the past few decades.
The main reason that these businesses are targeted more than larger businesses is due to the lack of focus they often have on cybersecurity. Taking the proper steps to invest in physical and digital security measures can often become a large investment of money. The harsh truth, however, is that falling victim to an internal data breach is typically more costly than the original investment in security would be. Data breaches cost companies an average of $3 million. This number is solely focusing on the cost of repairing the damage and sending out notifications, not the downtime in production that is lost, which can be equally as damaging.
What Are the Threats?
Phishing Emails - These compromises come in the form of a phony email. The cybercriminals who send these emails pose as inside employees or other trusted outside parties to gain access to an employee's email server. Usually, they include a link, attachment, download, or they will ask for private information in order to trick unsuspecting employees into downloading ransomware.
Website Hacks - These are also referred to as watering holes. This happens when legitimate business websites are hacked by cybercriminals and infected with malicious software. Typically a site owner is unaware that this attack has taken place. They are caused by clicking on a link, downloading software, or revealing sensitive information.