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5 Reasons Small and Medium-Sized Businesses Need Cybersecurity

5 Reasons Small and Medium-Sized Businesses Need Cybersecurity

Cyberattacks have become rampant in recent years, and data breaches are incredibly common these days. These threats have a potentially devastating impact on any business. Unfortunately, many small and medium-sized businesses (SMBs) have a false sense of cybersecurity, believing cybercriminals wouldn't target them. This is partly true because hackers have been targeting large organizations, with the hope of squeezing out millions of dollars from them through ransomware. But things have now changed. Cyberattackers are now targeting any business in their sight, as was the case when hackers breached in-house Microsoft Exchange Server software. Thus, affecting hundreds of thousands of businesses, including SMBs in the San Francisco Bay Area.

Here is why cybersecurity is important for SMBs:

A small business with cybersecurity working in a workspace.

SMBs Are a Soft Target

Truth be told, SMBs need cybersecurity services now more than ever before because they are a softer target for cybercriminals. Large organizations often have an arsenal of weapons against cyberattacks, and this includes a well-furnished and funded cybersecurity team and infrastructure.

SMBs, on the other hand, often have little resources to channel towards securing their data and processes. Many small businesses don't even have a professional and experienced in-house IT team to handle cybersecurity matters. This makes them quite vulnerable to cyber gangs out to exploit such loopholes.

SMBs Have Access to Sensitive Information

Just like large businesses, SMBs have access to valuable information that could be lucrative for hackers. Small organizations such as dentists' offices, small healthcare providers, schools, physician practices, and other small service providers, have sensitive information criminals could use to hold them at ransom.

The US Federal agencies issued a warning in 2020 to small businesses with access to sensitive information, such as patient records, client and vendor data, private communications, student records, and financial data, to beware of ransomware. This means that the threat to SMBs has become serious.

SMBs Are More Likely to Collapse After a Cyberattacks

Your small business needs cybersecurity more than ever. Indeed, it's likely to experience more devastation after an attack compared to large businesses. This because small enterprises often lack the wherewithal for reliable data backup and recovery practices. In the event of cyberattacks, they have no way to get back on their feet, and most collapse within two years.

SMBs Easily Fall Prey to Phishing Schemes

Since most SMBs have no resources for cybersecurity training, they are more likely to fall for phishing schemes. Unsuspecting employees with little or no knowledge of phishing scams may often click on suspicious attachments. Thus, inadvertently getting malware into their IT systems.

Hackers are also aware of this glaring gap and are more likely to try their luck on small firms than the bigger businesses. This means that SMBs need to train their employees on cybersecurity matters, and take measures to protect their systems from attacks.

Ransomware a Big Threat to SMBs

The growing trend shows cybercriminals moving away from large enterprises, such as Amazon, for fear of being tracked, apprehended, and brought to book. This is because large companies have enough funds to undertake such expensive measures.

SMBs are a sitting duck for cybercriminals. Even when they come under an attack, the world may never know about it because they rarely make headlines. Cybercriminals are increasingly targeting them, and are likely to focus most of their effort on SMBs going forward.

What You Can Do About Cybersecurity

Your small business faces the growing threat of cybercrime and data breaches. Don't worry, there's always something you can do to protect your IT systems. You could consider partnering with us in the San Francisco Bay Area for efficient, reliable, and affordable IT services, including cybersecurity and data backup and recovery. Contact us today for more details on how we can help secure your business.

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