Cyber security threats every small business owner needs to know

Cyber security threats every small business owner needs to know

There are many operating risks small business owners need to be mindful of; maintaining a steady revenue, hiring talented people, and balancing quality and growth are only a few of them.

However, it can be easy to overlook any of those risks while managing a small business.

One risk-factor you don’t want to drop in the entrepreneur juggle, though, is  cybersecurity.

Verizon's 2019 Data Breach Investigation Report  states that 43% of cyber-attacks target small businesses, while only 14% of small businesses believe they have advanced abilities to reduce cyber risks according to Small Business Trends.–––

Moreover, despite being concerned about cyber-attacks, Small Business Trends also found that more than half of those small businesses aren’t allocating any budget to risk mitigation.

Don’t be one of the small businesses who aren’t prepared for when cyber-attacks happen.

Here are a few reasons why you need to invest in cyber security protection:

  1. Phishing and advanced malware attacks are increasing.

The 2018 Keeper Security Report on the state of cybersecurity in small and medium sized businesses states that, “Respondents reported phishing/social engineering attacks increased from 48 percent in 2017 to 52 percent in 2018 and advanced malware/zero day attacks increased from 16 percent to 24 percent.”

To better protect against attacks and keep up with today’s security challenges, we offer comprehensive solutions that start with Next-Gen Firewall (NGFW).

  1. Cyber-attacks cost $3 million dollars, on average.

Learn from the American Medical Collection Agency (AMCA), who was hacked, affecting nearly 20 million customers from third party companies like Quest and LabCorp. The breach resulted in the company’s recent bankruptcy filing.

Moreover, the company has since paid $4.2 million in reporting the breach, and an additional $3.8 million for other associated costs.

Make sure your network security is protected at all times.

  1. 31% of organizations have experienced cyber-attacks on operational infrastructure.

According to Cisco, this percentage is likely higher due to the amount of security hacks that are unreported. Because most employees have multiple screens—computers, laptops, phone and iPads, cybercriminals have their choice of platforms to target.

Protecting your network is a difficult task as hacking methods have tremendously evolved. No longer can you install a firewall and expect it to protect your systems, business assets, and intellectual property (IP). Protecting your organization’s infrastructure doesn’t have to take away from day-to-day tasks, we have that covered.

For more information regarding our cybersecurity services, give us a call at 215.586.7000, or schedule a free consultation.