Can Small Business Beat Cyber Attacks?

According to Verizon's 2019 Data Breach Investigations Report, 43% of Cyber Attacks are aimed at small businesses and the weakest link is lack of employee Cyber understanding – every member of the team needs continual training. A recent UK government survey estimated that the average cost of a small business cyberattack is between £65,000 and £115,000. 

Cybercrime recovery potentially involves many measures, including identifying and fixing the problem, replacing damaged software and hardware, hiring specialist IT security consultants, hiring a PR firm to manage a damaged reputation, and hiring a solicitor to deal with clients who’ve had their own business compromised as a result of cybercrime.

It is clear that an attack would be a massive upheaval for most small businesses. As well as following its cyber protection advice, the Federation of Small Businesses has stressed the need for smaller companies to put in place specific cyber protection solutions to guard against this significant risk.

A good cybersecurity strategy is essential for any business, no matter its size, but in the midst of a sever lack of security experts, what’s a small business to do?

It’s a vexing question as cybercriminals continue to score goal after goal with simple attacks such as phishing emails, in which attackers use already-compromised passwords to access users’ other work and personal accounts.

In Australiane Office of the Australian Information Commissioner (OAIC) stats confirm that businesses there also remain extremely vulnerable to the attacks. A server containing 1.2 billion personal profiles including 622m email addresses was recently discovered. Small businesses make up more than 97 per cent of Australia’s businesses, even those that recognise the need to improve security can struggle to give it the priority of major enterprises.

By contrast, 62 per cent of small businesses are sole traders and 27 per cent have just 1 to 4 employees. Margins are often tight, leaving little left over to spend on cybersecurity tools and even less for the six-figure salaries needed to lure cybersecurity specialists.

Throw in the challenges of a market with an estimated 100,000-person IT skills gap making it is ‘very difficult’ to recruit cybersecurity specialists, and small businesses are vulnerable to an unchecked stream of cybersecurity threats.
There were 60 per cent more cybersecurity threats against healthcare organisations, the majority of which are small businesses, in the first three quarters of this year than in all of 2018.

Detecting, stopping and recovering from such attacks requires a broad range of security skills, while proactive defences takes job descriptions to a whole new level. Yet even those companies that do manage to hire an IT person with some cybersecurity experience often find their capabilities limited. 

In light of the ever-increasing threat, now is the time to protect your business against cybercrime. Increase your ability to prevent cybercrime within your SME by adopting best practice and awareness training, and increase your ability to recover by adopting cyber insurance. Neither need to be costly, but they could save your business.

Please contact Cyber Security Intelligence for advice and help.

Informationa Age:       Small Business:           ByteStart:

You Might Also Read:


Cyber Security Training That Employees Don’t Hate:

 

 

« AI And IoT Have Created The AIoT
Finland Has A Cyber Security Standard For IoT »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

IT Governance

IT Governance

IT Governance is a leading global provider of information security solutions. Download our free guide and find out how ISO 27001 can help protect your organisation's information.

North Infosec Testing (North IT)

North Infosec Testing (North IT)

North IT (North Infosec Testing) are an award-winning provider of web, software, and application penetration testing.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

ASIS International

ASIS International

ASIS International is a global community of security practitioners with a role in the protection of assets - people, property, and/or information.

SolarWinds

SolarWinds

SolarWinds as a worldwide leader in solutions for network and IT service management, application performance, and managed services.

National Cyber Security Centre (NCSC) - Netherlands

National Cyber Security Centre (NCSC) - Netherlands

NCSC Netherlands coordinates enhancing the cyber resilience of the Netherlands in the digital domain.

NTNU Center for Cyber & Information Security (NTNU CCIS)

NTNU Center for Cyber & Information Security (NTNU CCIS)

NTNU CCIS is a national centre for research, education, testing, training and competence development within the area of cyber and information security.

ThreatMark

ThreatMark

ThreatMark provides fraud detection solutions for digital banking and payments.

Global Security Network (GSN)

Global Security Network (GSN)

GSN focuses on specialized IT Security solutions & services for the military, law enforcement, critical infrastructure and oil & gas sectors in the Middle East.

IntelligInts

IntelligInts

IntelligInts provide 24×7 threat monitoring, hunting, alerting, and mitigation in our world class Security Operations Center.

Global Cyber Risk (GCR)

Global Cyber Risk (GCR)

Global Cyber Risk is a technology and advisory services firm that provides first tier cybersecurity services to both large corporations and small and mid-sized businesses.

Etonwood

Etonwood

Etonwood specialises in infrastructure and vendor technology recruitment in areas including cloud platforms, cyber security and service management.

Axitea

Axitea

Axitea designs, implements and develops the solutions best suited to its customers’ needs and their physical and cyber security requirements.

Data#3 Limited (DTL)

Data#3 Limited (DTL)

Data#3 Limited (DTL) is a leading Australian IT services and solutions provider.

Imprivata

Imprivata

Imprivata is the digital identity company for life- and mission-critical industries, redefining how organizations solve complex workflow, security, and compliance challenges.

Triangle

Triangle

Triangle enable innovative business transformation by ensuring critical hybrid infrastructures are optimised, interoperable and secure.

RedNode

RedNode

RedNode is a cybersecurity service provider that offers customized security testing solutions to protect any size of business worldwide.

Bulletproof Solutions

Bulletproof Solutions

Bulletproof provides IT expert support, services, and guidance to businesses small and large as they grow and adapt to today’s complex IT, cybersecurity, and compliance needs.

runZero

runZero

runZero delivers the most complete security visibility possible, providing you the ultimate foundation for successfully managing exposures and compliance.