If you watch the news, you might think cybercriminals only target billion-dollar companies. The truth is that small and medium-sized businesses (SMBs) are also prime targets for cybercrime. A 2023 report from VEEAM reveals that 85 percent of ransomware attack victims were SMBs. While some industries, such as healthcare and engineering, are more prone to hacking, the businesses most vulnerable to cybercriminals are the ones that operate as if they are not at risk.
In a CNBC SurveyMonkey poll of small-to-medium-sized business owners, 61% said they were “unconcerned” that a hacker would target their company. On the contrary, SMBs face an array of cybersecurity threats, from phishing, ransomware, and DDoS attacks. Any of these threats can lead to loss of data, their customers’ trust, and even reputational damage. When business owners believe they are not at risk for cybercrime, they don’t stay vigilant and proactive in their approach to cybersecurity. They typically do not invest in good security practices and adaptable security systems to protect their business from the ever-evolving threat. These businesses are easy marks for hackers who see smaller businesses as easier targets than larger corporations with robust cybersecurity protocols.
What Can Businesses do to Protect Themselves?
Companies can implement a multi-prong approach to cybersecurity, including the following.
- Provide continuous education, including Security Awareness Training (SAT).
- Use strong passwords and two-factor authentication (2FA).
- Implement strong access controls and limit access to sensitive information.
- Invest in up-to-date antivirus and anti-malware solutions.
- Update software and systems and apply patches promptly.
- Conduct regular security assessments and audits to identify and address potential vulnerabilities.
Protect Data with a Robust Backup Strategy.
A robust backup strategy is another effective way businesses can safeguard their data. Utilizing a Backup as a Service (BaaS) provider like Ozone IT Services can provide businesses with a secure and automated method to protect their critical data and create redundancies. Ozone’s hybrid cloud and off-site storage solutions provide businesses with peace of mind that their data is securely backed up and easily recoverable in the event of a cyber incident or data loss.
Entrepreneurs and executives should never underestimate the threat of cyberattacks on small and medium-sized businesses. By understanding the specific vulnerabilities they face, implementing robust cybersecurity measures, and leveraging services like BaaS from reputable providers such as Ozone IT Services, businesses can significantly enhance their resilience to cyber threats. Companies must prioritize cybersecurity as an integral part of their operations to mitigate risks and ensure continued success in an ever-changing threat landscape.
Almost 60% of small businesses close within six months of a cyberattack. With Ozone IT’s Services securing your critical data and creating redundancies with its hybrid cloud and off-site storage solutions, your business can survive a cybersecurity threat with its data intact. Secure your data with Ozone IT Services. We back up your data so you can get back up and running.
