Small business cyber attacks are more prevalent than you may think. Recent reports reveal that nearly two-thirds of small and medium-sized businesses (SMBs) have fallen victim to at least one cyber attack in the past year alone. This eye-opening statistic serves as a wake-up call for businesses of all sizes. In fact, the situation is even more alarming, as an overwhelming 87% of businesses have experienced multiple successful attacks within the same period. On average, companies suffer nearly five cyber incidents, which can have devastating consequences. To understand the reasons behind these attacks and take preventative measures, let’s explore the most common types of cyber threats faced by businesses today.
Types of Cyber Attacks
The two most prevalent types of cyber attacks that businesses encounter are malware and ransomware. Malware, a form of malicious software, infiltrates your system, causing a wide range of problems, from operational slowdowns to data theft. On the other hand, ransomware poses an even greater threat by encrypting your data, making it inaccessible unless you pay a ransom fee. The impact of ransomware can be catastrophic for any business, resulting in significant losses and prolonged downtime.
Contributing Factors to Successful Attacks: Multiple factors contribute to the rising success rate of cyber attacks on small businesses. One significant factor is the surge in Bring Your Own Device (BYOD) policies, where employees utilize personal devices to access company information. This practice poses inherent risks to data security. Additionally, the proliferation of productivity apps has created security vulnerabilities that, if left unsecured, can be exploited by cybercriminals. Furthermore, the increased number of devices used by businesses provides cybercriminals with numerous entry points for exploitation.
Protective Measures for Your Business
Fortunately, you can take proactive steps to safeguard your business against cyber attacks. Here are five essential security measures to implement:
- Utilize strong passwords: Strengthen your first line of defense by ensuring your passwords are robust and unique. Consider employing a password manager tool that generates and remembers randomly created passwords.
- Keep software up to date: Regularly update your operating system and all applications to benefit from the latest security patches. These updates often include crucial security fixes to protect against emerging threats.
- Train your staff: Educate your employees on identifying phishing emails and other scams. Conduct regular security awareness training sessions to keep everyone well-informed and up to date with the latest threats and best practices.
- Backup your data: Implement a reliable data backup strategy. This practice ensures that if your business falls victim to a cyber attack, you can quickly restore your systems and minimize disruption.
- Utilize antivirus software: Deploy reputable and up-to-date antivirus software to defend your systems against malware and other potential threats.
Prevention is always superior to the cure when it comes to cyber attacks. Taking action today to protect your small business from cyber threats is crucial. By implementing the mentioned security steps, you can significantly reduce the risk of falling victim to cyber attacks. Remember, if you require assistance in safeguarding your business, don’t hesitate to get in touch with our expert team.