Cyberattacks are the biggest threat to modern businesses, but it is undoubtedly clear that some companies are more targeted than others.
According to a recent study, 43 percent of cyberattacks target small businesses. Research shows that 60 percent of small businesses never recover from cyberattacks. Compared to the past ten years, there’s been a noticeable shift in cybercrimes directed towards small companies. But why do hackers decide to target small businesses when compared to large corporations?
The short answer is that while most smaller businesses lack the resources of larger corporations, they also lack the security these companies may have at their disposal. Moreover, small businesses are an easy target for hackers because most assume that cybercriminals only target large organizations.
Small businesses often lack the investment and resources to implement adequate security. They are also more likely to ignore security protocols due to the operational costs of implementing them. This allows hackers to easily exploit companies that overlook cybersecurity due to a lack of adequate resources.
The most common type of attack is ransomware, which in 2019 targeted small businesses in almost 70 percent of attacks. Distributed Denial of Service (DDOS), malware, and phishing attacks also present considerable threats to small companies.
Lack of Awareness
Small businesses often do not have security measures in place. Even if they do, business owners may be unaware of these security measures and thus cannot implement them effectively.
Many small businesses don’t have a secure online presence, making them even more of a target for hackers looking to exploit vulnerabilities. Employees can also cause cyberattacks due to limited education in IT security issues or an absence of the appropriate tools.
Cybercrime Is On The Rise
The number of cyberattacks has seen a steady rise in recent years—proving that cybercrime is becoming a more profitable business to hackers. This is why criminals are increasingly attacking companies, both small and large.
However, it is not always about financial gain but the joy of hacking. This means that hackers are sometimes less interested in stealing money from companies and are more concerned with simply breaching their defenses for the sake of it.
How Can Small Businesses Protect Themselves?
It is every business’s goal to stay afloat and make more profit. With cybersecurity such a pressing issue, you must have a plan in place if a cyberattack occurs. The most efficient way to protect yourself from hackers is outsourcing all your security needs to a reliable managed service provider (MSP).
MSPs are able to offer numerous different ways you can protect your small business from hackers include:
- Install proper firewalls and antivirus software
- Train employees on cybersecurity best practices
- Control physical access to computers
- Update security patches and software regularly
- Set up a comprehensive backup and data recovery plan
Partner With a Trusted IT Service Provider
Securing your small business from cyberattacks while trying to focus on other business operations can be overwhelming. Our Texas-based managed cybersecurity team offers expert IT services that will see your small business thrive in a secure environment.
Contact Tolar Systems to talk about your technology, starting with a free, no-obligation consultation for your business.