You’d think larger businesses would be more attractive to cybercriminals, but this couldn’t be further from the truth. In fact, recent data shows that scammers prefer smaller businesses for various reasons. In this article, we’ll debunk the assumption that hackers target larger businesses more frequently and provide actionable steps you can take to keep your company, your employees, and your customers safe.
Why small businesses are prime targets for cyberattacks
Larger companies may seem like they’d offer hackers a better payout, but it’s important to remember that small businesses also store valuable data that bad actors thrive on, like customer information and financial records.
Cybercriminals know that smaller businesses have limited IT resources–and many can’t afford robust security measures the same way larger companies can. This leads to massive gaps in their defenses and even outdated systems.
But the biggest contributor to poor cyber defense is a lack of knowledge, so think about this:
- 59% of small business owners believe they are too small to be a target
- 43% of cyberattacks target small businesses
- Small businesses are 350% more likely to face cyberattacks than large ones
- 60% of small businesses that suffer a cyberattack go out of business within six months
What you can do to keep your business safe
The important thing is to take your security seriously, and there are plenty of strategies you can take that make a huge difference.
- Educate your team: Train employees on recognizing phishing attempts and the importance of strong, unique passwords.
- Implement multi-factor authentication (MFA): MFA requires that users have more than one verification point, making it significantly harder for unauthorized access
- Regularly update software: Updates include patches for known vulnerabilities that hackers could exploit.
- Backup data frequently: Protect your business from data loss with system backups stored in secure locations separate from your main system.
- Secure your network: Use firewalls to safeguard your network, and remember to monitor activity regularly to detect and respond to suspicious behavior.
- Monitor and respond to threats: Use threat detection tools and have a response plan for security breaches. Early detection and response can help mitigate the impact of a cyberattack.
Why you should use VPNs to add extra security
A virtual private network (VPN) is a powerful tool for small businesses that want to enhance their cybersecurity without spending a fortune.
VPNs use strong encryption protocols, such as AES-256, to make your data unreadable to anyone who intercepts it. This process protects your company, your employees, and your customers from getting their sensitive data taken by hackers.
VPNs also protect your company by masking your IP address, routing your online traffic through remote servers, and safeguarding your anonymity. So, not only is it difficult for hackers to read your data, but it’s also difficult for them to track your activity.
With companies increasingly embracing remote work, it makes sense why you should use a VPN more than ever before. Whether your employees are working from their homes or using public Wi-Fi networks on the go, a VPN will ensure that your data remains secure.
Plus, VPNs are relatively quick and easy to set up.
By integrating these steps and leveraging the benefits of a VPN, small businesses can strengthen their cybersecurity while effectively managing costs.