Small Businesses and Cyber Attacks

Small Businesses and Cyber Attacks

Are you  a small business owner that’s heard of cyber attacks but has never really considered it a real threat to your company? Well, think again. Recent statistics about small business security has discovered that 43% of cyber attacks target small businesses. Only 14% of small businesses can say their efforts to protect their companies from cyber attacks as highly effective. Overall, nearly 60% of small businesses will go “out of business” within six months of encountering a cyber attack. These alarming numbers should set a sense of concern for you and your company. Although you’re not running a franchise store, you have information that hackers want. If your business is not working with a secure system, hackers will be looking into stealing payment information and social security numbers from your clients. If cyber attacks can be prevented, then why not take the appropriate measures to do so? Here are some tips on how to protect your small business.

Get Cyber Security Insurance

Although your company currently has some type of insurance, cyber security insurance also exists. Cyber liability insurance is to protect your company from various cyber threats. If there is a security breach, your company may be held liable, and this may be expensive in a lawsuit. However, with the appropriate insurance, most of your legal fees may be covered.

Develop a Password Strategy

Plenty of your employees probably use simple passwords that are easy to hack. It’s important to educate your employees and to ensure that your systems use harder passwords. Most hackers will breeze upon businesses and once their attempts to hack your passwords fail, they’ll move onto other businesses that may be easier to breach. When creating passwords, it’s best to use a series of upper and lower case letters mixed with letters and symbols. Resetting your passwords after a few months may also help prevent hackers from breaching your system information.

Speak to a Consultant

If cyber attacks and the stats above have become a real worry for you, then your best choice would be to speak with a consultant. It may seem a little expensive, but the investment will be worth every penny, and can ultimately save your business.  An Information Technology security expert can identify the vulnerable areas of your business. They will make recommendations to keep your information safe.

Stay Cautious of Internal Threats

Although it may a surprising fact, about 55% of cyber attacks come from within a company= 32% done with malicious intent and 23% are done by employees that leave their company’s information vulnerable for hackers. As employers, stay aware of what employees have access to sensitive information. It is not safe for a large group of employees to have access to information hackers are looking for. Remind your employees the risks your company faces from cyber attacks and why they should practice caution.

Cyber security is a prevention measure your small business can take to minimize damages from cyber attacks.