Do you know Cyber Criminals are targeting Small Businesses?

Small businesses do not realize that they are very easy targets for cybercriminals because they usually lack the precautions to ensure the security. Out of all the cyberattacks, 40% to 50% target are the small businesses, the consequences of these security breaches can be extremely costly, from lost productivity to company reputation. However, 60% of all small businesses who are the victim of a data breach permanently close their businesses within six months of the attack.

Usually, small businesses investment in cyber security as an extra overhead for them. They feel “too small” to be affected by a cyber incident. If an incident does occur, many do not realize the severity of a breach until it is too late. The Small business owners do not think that the investment of the time or money in a cybersecurity plan is important for many reasons, including:

• They do not think the severity and loss when they are the victim of a security breach
• Budget for cybersecurity measure is small as compared to losses
• There can be breaches due to outdated and unsupported systems
• Special softwares needed to prevent the security breaches
• Small security measures can help them to prevent being victim of cyber threats

Cybercriminals gets successful targeting the small businesses as they cannot say no to ransomware attacks because they do not have a proper backup system to recover data if they are attacked. Since small businesses do not focus on cybersecurity training, employees can be easily tricked into falling for attacks, malicious threats, or sharing of passwords, sensitive data and customer information since they do not know how to identify the suspicious cyber activity.