How Cyber Attacks Are Challenging Small Businesses?

1. How Cyber Attacks Are Challenging Small Businesses? In previous years renowned companies like Yahoo, British Airways, Marriott International, etc. were targeted by cyber attacks. But there is another chapter to be enlightened. While businesses of all categories and all sizes are being attacked, the smaller companies seem to be unshielded and more prone towards getting trapped in cybercrime. The small and mid-sized businesses have become a major target for Cybercriminals. The main reason is that these normal companies are struggling to keep their data safe from cyber-attacks. It is witnessed that when you become a target of a cyber attack, you’ve got yourself out from the track. Research reveals it barely takes less than six months for your business to get knocked out.

2. Small businesses are subjected to cyber attacks because their online security system is not as strong as the ones in big firms. Initially, it is important to have free antivirus for small businesses. The statistics of 2019 reveals that in the past 12 months around two-third of Small and midsized businesses (SMBs) have been targeted under cyber attacks. 63% of the cybercriminals target small businesses. Ransomware attacks from the previous year have escalated by 11 percent. The costs incurred by these costs are shattering; approximately the same is estimated to be around $3million. 54% of the SMB’s believe that their companies are “too small” to be a Ransomware target. Hackers are aware of this fact that small to medium-sized organizations spend less on online security than their equivalent assets in the company. Instead, it makes much easier for hackers to acquire their systems.

3. Some of the statistics of the top SMBs in context to cyber attacks are as follows: ●43% of all data breaches target SMBs. ●Verizon’s recent Data Breach Investigation Report (DBIR) revealed that almost half of the total breaches happened to be found in small businesses. ●There was around a 424% increase in authentic and new breaches in 2018 in comparison to the previous year. ●83% of SMB’s have a shortfall of funds to deal with the consequences of the cyber attack. Average cyber-attack costs nearly about $3million. What could be the possible reasons for SMBs to be a target for cyber attacks? ●Absence of an IT department: SMBs which have limited capital and resources lack to hire a team of IT professionals who can keep an eye on the company’s networks, devices, websites, servers, and online operations.

4. The reason being, they are more open from their end for cybercriminals round to clock. Often the fact that the cost of hiring IT professionals is way too high has kept the companies risking their safety. ●Basic network and systems: Comparatively, SMBs have a very basic setup of networking than the big firms. The systems are mostly outdated and obsolete. They should be updated with networks and systems which have advanced security and with encryption to prevent the disclosure of businesses information. An updated network and system would make it quite hard for the cybercriminals to break into the system. This problem seems to be never-ending. But there are measures with which cybercrime issues can be set to hang out to dry.

5. First things first, there are numbers of free antivirus for small businesses. Start using a cloud-based antivirus. Reason Security antivirus is the best suitable free antivirus for small businesses and the best solution to this problem. It’s easy to use interface make it quite accessible to be utilized by everyone; companies who find it tough to hire IT professionals they can have this small business managed antivirus. Reason security antivirus is the right option in the case of small business managed antivirus because its standard plan covers all major features required to protect the system. Reason security antivirus is the best option in terms of small business managed antivirus as it will protect your system with its features like its compatibility, email scans and lightweight antivirus software.

6. Despite the availability of numbers of antivirus for small business in the market, the staff of the companies should also be trained to keep an eye and think twice before clicking any email or link which seems to be tempting. A survey reveals that more than 1300 SMB owners expressed that more than 80% of the businesses lack money which they might need to recover from a cyber attack. Unfortunately, there are plenty of business owners who have a mindset that has convinced them that their businesses are too small to be of interest to the hackers. From the surveys revealed it is quite obvious that small and medium-size businesses are tempting targets for cybercriminals.