Why Small Businesses Are Vulnerable To Cyberattacks

Small businesses sometimes lack the cybersecurity measures that large organizations have, making them a common target for cyberattacks. About 43% of all cyberattacks are carried out against small businesses, and their impacts can be extensive, harming productivity and the business’s reputation. 60% of those small businesses who fall victim to cyberattacks permanently close within 6 months of the incident. Given the large-scale consequences that data breaches can have, businesses of all sizes need a detailed strategy to defend against threats. The Southshore Managed IT Group offers insight into the reasons small businesses are more vulnerable to cyber threats, as well as what we can do to mitigate the risks. 

What Is a Cyberattack?

A cyberattack is a deliberate attempt to steal, change, expose or destroy data by accessing a computer system without authorization. These acts are carried out by cybercriminals who seek information or system resources. Cybercriminals use various methods to complete an attack, such as phishing scams, malware, viruses and ransomware. 

There are different kinds of cyberattacks, and many are continuing to evolve as cybercriminals try to become more deceptive. Some of the most common types include: 

• Social Engineering Scams: A victim is manipulated or deceived into providing confidential information via phishing scams, spoof websites and other methods. The information gained in these attacks is often used for fraud.

• Malware: Malicious software is installed onto a computer after clicking a dangerous link or attachment. Malware can block file access and other important parts of a network, as well as gather sensitive information. 

• Denial-of-Service (DoS): Hackers overload a computer system’s resources, which makes it unresponsive to requests by its authorized users.  

Reasons Small Businesses Have a Higher Risk of Cyberattacks

In some cases, a small business may be at a greater risk of cyberattacks due to simply not taking the risks seriously. Some organizations wrongfully believe they are “too small” for a hacker to target. When an incident does happen, they lack the resources and planning to adequately handle the breach, leading to more significant losses. There are several common reasons small business owners don’t understand the importance of a cybersecurity strategy:

• They believe they aren’t at a high risk of a data breach
• Budget for cybersecurity and IT is minimal
• Outdated systems and software that receive no support

Small businesses are easy for cybercriminals to manipulate: for instance, in the case of a ransomware attack, a small business without a backup system can’t recover anything lost in the incident. 

Additionally, human error remains a major cause of data breaches at small organizations since these businesses usually don’t focus on training employees in cybersecurity. As a result, employees may not realize they are falling for a scam and end up sharing sensitive information with a cyber-criminal because they don’t know how to identify the signs of suspicious activity. Building an effective cybersecurity plan alongside our managed IT experts can significantly boost your business’s security so you can protect what’s most important. 

Contact Our Cybersecurity Experts for Guidance

The Southshore Managed IT Group specializes in security needs for small and medium-sized businesses. Call us today to build your cybersecurity strategy and keep your organization safe.