43% of Small Businesses at Risk: The Dangers of Cyber Attacks

Cyber Attacks Are Not Just a Threat to Large Businesses.

According to a report by Cybersecurity Ventures, over 4 billion data records were exposed in data breaches in the first half of 2020 alone. This is a staggering number and shows just how vulnerable businesses are to cyber-attacks.

But it’s not just large corporations that are at risk – small and medium-sized businesses are also vulnerable to these types of attacks. In fact, 43% of cyber attacks target small businesses, and 60% of small businesses that suffer a cyber attack go out of business within six months.

Here are the top 5 risks to consider if your company is not already protected with cyber security:

1. Loss of sensitive data: Cyber attacks can result in the theft or loss of sensitive data such as financial information, customer data, and proprietary business information. This can have severe consequences for a company, including financial loss and damage to its reputation.
2. Ransomware attacks: Ransomware attacks involve hackers holding a company’s data hostage until they receive a payment. This can be extremely disruptive to a business and can result in lost revenue and productivity.
3. Disruption of business operations: Cyber attacks can disrupt a company’s operations by taking down its systems and preventing employees from accessing the tools and resources they need to do their jobs.
4. Damage to reputation: A cyber attack can damage a company’s reputation and credibility, leading to a loss of trust from customers and other stakeholders.
5. Legal and regulatory consequences: Depending on the nature of the attack and the lost or stolen data, a company may be at risk for legal and regulatory consequences, such as fines and penalties.

So what can businesses do to protect themselves against these threats? One of the most effective ways to safeguard against cyber-attacks is to implement strong passwords and regularly update them. Additionally, using two-factor authentication can add an extra layer of security to your accounts.

Another critical step is to educate employees about cyber security best practices, such as not clicking on suspicious links or downloading unknown attachments. Training employees to spot potential threats can go a long way in protecting your business.

Investing in cyber security will also provide peace of mind in the event of cyber attacks.

If you’re looking to protect your business against cyber threats, working with an IT company specialising in cyber security is essential. As professionals, we have the expertise and experience to assess your business’s needs and recommend the right solutions to safeguard against potential attacks. By partnering with us, you can ensure that your business has the best protection against cyber threats.

To get started, schedule a discovery call, and we will be able to assess your business’s current security measures and make recommendations for improvements and additional protections.