For businesses large and small, security should always be a top priority. While things such as cameras, gates, and security personnel can help protect your physical premises, too many small businesses tend to ignore the digital side of their security. Some thieves may want to steal merchandise or cash, but others want to steal information, and that can be far more devastating. This is why cybersecurity for small businesses is so important. Let’s dive into how cybersecurity breaches impact smaller enterprises and how a provider like JCM Telecom is in the perfect position to help you shore up your digital defenses.
The Digital Dangers Facing Businesses
These days, the threat of a cybersecurity breach often far outweighs that of a criminal breaking into a store and making off with the contents of a cash register. Obtaining financial information and access to accounts and payments can leave your business helpless.
Hackers usually follow two paths to get what they want from your business. On one hand, they may use hacking software designed to guess passwords or get around login screens. This software is designed to bombard systems and overwhelm them until they break, or a crack is found that can be exploited. However, simply using a top-notch anti-virus program and firewall is often enough to prevent most of these types of attacks.
The other efforts – by far more effective and insidious – fall under the category of “social engineering.” This is the process of tricking internal employees into revealing information, granting access, or installing software that gets the hacker the information they’re looking for.
Social engineering has come a long way over the years, and it can be difficult to spot bad actors. Things such as receiving an urgent email from your boss to send a quarterly report or remind them of a password are designed to fool unsuspecting team members into giving up information. Some emails even have links or attachments that automatically install malicious software and give the hacker complete control over the person’s computer or smartphone.
How Cybersecurity Issues Impact Small Businesses
It can be tempting to think that cybercriminals only go after large enterprises since there is so much more value to be stolen. Why would a hacker spend their efforts trying to attack a small business when there are bigger fish in the sea?
The reality is that larger companies are, in fact, often the target of cyberattacks. However, these attacks are far less successful due to the fact that many large businesses have the software and protocols in place to protect themselves. Small businesses are far more numerous and have far less protection in general, making them prime targets for malware attacks. In fact, 43 percent of breaches are connected to small businesses.
Plus, a big company often has the insurance, assets, market share, and cash reserves to come back after a breach. Smaller companies often lack these resources, meaning that a breach is far more devastating.
For starters, these breaches are extremely expensive, averaging a scant $2.98 million for each occurrence. When you factor in repairs, appeasing angry clients, fines, ransoms, and lawsuits, it adds up quickly.
But that’s not the only cost of a breach. Businesses are built on trust, and that trust can evaporate after a cybersecurity breach. For a large company, that may be something that can be regained. However, a smaller organization may not be able to do the same. Think of the difference between a data breach at a small local credit union versus Wells Fargo.
Helpful Tips to Enhance Cybersecurity for Small Businesses
Since cybersecurity breaches are so prevalent and can be so devastating, it’s important to be aware of the ways you can protect your small business against these types of threats. Here are just some of the tools you need to have in your toolbelt when facing cybersecurity risks that plague small businesses:
- Education: For both the business and the hackers, their greatest asset is the employees. As we mentioned earlier, hackers usually try to deceive uneducated employees into taking actions that hurt the business and help the criminal. Training your teams to recognize these scams and take the right actions is your primary defense against cybersecurity threats.
- Software: Having a comprehensive anti-virus and malware detection program installed across the organization is critical to avoiding software-based attacks.
- Backups: Many cybercriminals work to gain control of critical documents and hold them for ransom. 2022 saw more than 493 million ransomware attacks in that year alone. By backing up your systems regularly, you never have to worry about having to pay to get your files back.
- Wi-Fi Control: It may seem obvious, but many small businesses neglect to protect their Wi-Fi connection, allowing anyone in range to access their network without issue.
How JCM Telecom Can Help
The internet is teeming with cybercriminals looking to use your business as a way to earn a quick buck at your expense. Staying up to date on the latest methods, processes, and software can help you avoid costly breaches that could permanently impact your small business. Don’t become another statistic—take action today.
Here at JCM Telecom, we’ve helped countless businesses of all shapes and sizes across various industries find their footing in the digital landscape. From the initial consultation to an audit to actionable steps and solutions, we offer the full gamut of essentials that strengthen cybersecurity for small businesses, thereby bringing your organization up to industry standards. Combining our layered comprehensive security software with effective training and protocols for your teams will give you the best protection against possible breaches. Give us a call today to find out how we can give your small business the tools necessary to face the digital age with confidence.
