Cyber security is crucial for businesses of all sizes. While people often think Fortune 500 companies are more at risk for cyberattacks, the truth is that hackers often target small and midsize businesses (SMBs). Why? Because these tend to be the businesses that have their guards down–they may even think they aren’t at risk due to their smaller size.
In most cases, SMBs do not have the expert IT departments a larger company will have, which means they probably do not have a cyber security strategy in place. This leaves them vulnerable to security breaches, data theft, and loss that can stop a business in its tracks.
The statistics paint a shocking picture. For example, 43% of all cyberattacks target small businesses, while 60% of smaller companies that go through a cyberattack end up closing their doors within six months following the attack.
Read on to find out why cyber security is important to your SMB’s success and what you can do to protect your business.
Top Cyber Threats for SMBs
Thanks to today’s digitalization, cybercriminals can automate their attacks, making it possible to target hundreds of smaller companies at once. Cyber threats come in several forms, including:
- Malware
- Phishing
- Ransomware
- Password and login breaches
- Insider threats, including current employees, business associates, and former employees
Whether the objective is greed or malice or a result of basic negligence, a data breach can lead to numerous problems for your business.
What Cyber Security Issues Mean to Your Business
One primary reason your business must have a cyber security strategy is that the consequences of an attack can be far-reaching. The most damaging ramifications of a security breach are:
- Loss of revenue
- Damage to your brand
- Loss of customer trust
- Loss of intellectual property, including designs, blueprints, and business strategies
- Costs such as legal fees, investigations, and a spike in insurance premiums
It’s far easier and much more cost-effective to take a proactive approach to cyber security. Preventing hacks and breaches from happening in the first place can help you avoid these damaging scenarios—some may be impossible for you to overcome.
How to Protect Your Business from Cyber Threats
Most business owners don’t think about the threat of cybercriminals until it’s too late. Unfortunately, the harsh reality is that hackers are after your data. The good news is there is something you can do about it.
At CMIT Solutions, we provide multiple layers of protection against cyber security threats. First, we ensure you have an iron-clad network perimeter that includes active network management, managed firewall, and regular network inspections. Our experts also offer regular monitoring of your systems. Additionally, we can train your employees on cybersecurity best practices so everyone is on the same page. Our comprehensive services connect you with over 100 security experts—real people who can serve as an optimal component of your cyber security defense.
Do you have a complete understanding of your business’s risk exposure and a plan to keep your organization safe? If not, contact CMIT Solutions today to get a quote for a Cyber Security Risk Assessment. We can show you exactly why cyber security is important for your business and help you develop a solid plan.
