Why Should Small Businesses Care about Information Security

14th Nov, 2022

When talking about cyber-attacks, data breaches and the whole issue of cyber security, the first impression that comes into people’s minds is big companies like Adobe and Ebay and Amazon and the like. Nobody ever thinks about small businesses, in fact small business owners tend to think that they are not vulnerable to such attacks. Well, this is not true. Small businesses are at a greater risk of cyber attacks as compared to large organizations. Here are some of the reasons why small businesses should put cybersecurity into consideration:

It’s a matter of life and death! – over the past few years, small businesses have increasingly become a primary target for hackers, and for most companies, they go down the drain in less than 6 months after a cyber-attack!
Limited resources and lack of experienced personnel – huge corporations spend billions of dollars building robust cybersecurity structures that can detect and prevent cyber-attacks, and this is led by cybersecurity experts with extensive experience in the field. Now, small businesses do not have such privileges since their resources are limited and might not afford to hire personnel that demand a heavy paycheck at the end of every month. This makes them an easy target for attackers – it is easier for a hacker to attack a small business than a big company with a well-established IT security department.
Small businesses cannot withstand the effects of cyberattacks– apart from losing those millions or billions of dollars due to cyber-attacks, one thing that hits businesses really hard is reputational damage. Big companies have an already well-established network that can withstand such hits, but not so for small businesses. The majority of such businesses are often struggling to establish customer trust and the last thing they would want to get themselves into is something that compromises on the confidentiality, integrity and availability of customer information.
Rise in cases of ransomware attacks – there has been a surge in ransomware attacks where most software used in such attacks have become easily accessible even to those hackers with little experience. Now, ransomware is damn expensive. Most small businesses find themselves unable to pay the required ransom demanded whenever data is held hostage. The consequences are always detrimental.
Small businesses act as entry points to large organizations – today’s business world is digitally connected, and businesses rely on each other for information sharing, financial transactions, supply chains and other business-related issues. Since big companies are presumed to be more prepared and equipped to handle cyber-attacks, small businesses are used as a means of gaining access to the bigger systems.
Easy access to sensitive information – hackers are well aware that with small businesses, you can easily access sensitive information such as customer social security numbers, banking information, health records, customer preferences and other important information such as intellectual property that can be used for other attacks such as identity theft or sold for profit.

So do you need to care about cybersecurity as a small business owner? Definitely! If at all your business is to survive in today’s hostile online world, then you better put cyber security into consideration. Most business owners have always believed in a false notion that downloading antimalware software is just enough to protect their information system. There is need to get the help of experts who will help you build a strong cybersecurity structure.