PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Cyber Secure, Small Business Secure

By at 3 June, 2021, 10:05 am

SMALL BUSINESS INSIDER

By KAREN KERRIGAN-

Memo from the White House, June 3: What We Urge You to Do to Protect Against the Threat of Ransomware

According to an early January 2021 TIPPS survey, “Eight out of ten Americans are concerned about cyber attacks and cybercrimes in the U.S.  53% think the situation surrounding cyber-attacks and cybercrimes in the U.S. has gotten worse in the past year.”

Of course, given the latest ransom attack on the Colonial Pipeline, these concerns will only heighten. And for small businesses, that means cybersecurity becomes even more critical than it currently is, or should be. In a column, small business guru Gene Marks notes:

“According to a recent survey from security firm Infrascale 46 percent of all small businesses have been the targets of a ransomware attack, with almost three-quarters of them (73 percent) paying a ransom. Forty-three percent of small businesses paid between $10,000 and $50,000 to ransomware attackers. Thirteen percent paid more than $100,000. Of those who paid, however, 17% recovered only some of the company’s data.”

Gene also provides solid tips for helping your small business become more cyber secure.

Furthermore, according to Accenture, “forty-three percent of cyberattacks are aimed at small businesses, but only 14% are prepared to defend themselves.”

It’s more important than ever to shore up cyber security within your small business, and here are some great resources and tips to help you do so.

 

FORTINET: 10 Cybersecurity Tips for Small Business – The Ultimate Checklist

What are the types of Cyber threats for small businesses, and what can you do to protect your data, operations and reputation? As Fortinet notes:

Money is behind the vast majority of cyberattacks. According to the 2020 Verizon Data Breach Investigations Report, 86% of the 3,950 breaches last year were financially motivated. For businesses, cyberattack risks include:

● Compensating customers for theft of banking or credit card information

● Losses due to business disruption (i.e., shutting down operations while an investigation is underway)

● Costs related to adding new security systems and software or replacing devices

● Reputation damage, including informing customers of the breach and losing potential new business

This Fortinet article includes “The Ultimate Checklist” for small businesses, including: training employees, regular patches and software updates, passwords and authentication, timely risk assessments, the use of virtual private networks (VPNs), and much more.

 

INC: The 5 Best Cybersecurity Tips for Small Businesses for 2021

Small businesses are a more common target for cyberattacks than ever.

● Don’t underestimate your company’s value to hackers

● Back up everything

● Perform tabletop exercises

● Your cybersecurity budget should reflect your exposure

● Invest in a scanning tool

Dig deeper into these tips here.

 

SMALL BIZ DAILY: 5 Security Tips That Won’t Break the Bank

Businesses of every size need to prioritize security as threats become more prevalent across industries, but keeping information safe against cyber attacks doesn’t have to be a major hurdle or involve a large IT security team.

This Small Biz Daily article provides key tips to equip small businesses:

● Focus on Education First

● 3-2-1 Data Backup Rule

● 2FA – Two-Factor Authentication

● Improved Password Management and Secure Mobile Devices

● Prioritize Infrastructure Management.

Read more about these tips here.

 

Karen Kerrigan is president & CEO of the Small Business & Entrepreneurship Council.

 

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