Are Small Businesses Vulnerable To Cyber Attacks?

With approximately 43% of cyber breaches and attacks involving small businesses in the UK, it is more important than ever to ensure your data is protected and information does not get into the wrong hands. In the modern world of business, keeping information cyber secure is as important as locking your front door. Cybersecurity and IT support can help protect your systems and deter cybercriminals from targeting your organisation. Here, we’ll cover how small businesses are vulnerable to cyber-attacks and the prevention methods you can put in place to ensure your business is as protected as it can be.

How Are Small Businesses Vulnerable To Cyber Attacks?

When it comes to cyber-attacks, criminals will typically seek systems with the most vulnerabilities in them as they are ultimately easier to breach. Small businesses may often think they won’t be targeted due to the size of their company compared to global corporations with more money and assets. However, this is where they are wrong. As small businesses fail to have the proper protection tools in place, cybercriminals are then more likely to attack their systems. It is therefore essential to have the right software, processes, and education about cyber-attacks in companies of any size, including small businesses and startups.

Impacts Of Cyber Attacks On Small Businesses

If a cyber attack is successful, there are various negative impacts it could have on your small business. Some of the most common consequences of cyber-attacks are outlined below to give you a better understanding of just how necessary cybersecurity is in the modern world:

• Economic Costs: Financial loss can include the theft of corporate information, contracts, and issues with trading, as well as money.
• Reputational Damage: Customers and clients are less likely to put their trust in your company if they see you have failed to keep their data secure.
• Disrupted Operations: Cyber-attacks can push back operations by days at a time, not only interrupting your productivity but also your income.

Ways To Prevent Cyberattacks On Small Businesses

Although cyber-attacks are more common than we would like, there are ways to mitigate the chances of your small business being the target of one. Most preventative methods are fairly straightforward and inexpensive, meaning you can protect your SME easily. 

1. Firewalls & Antivirus Software

Installing firewalls and the appropriate software can be a great defence against small business security breaches. Anti-spam filters can also be a good addition to your computers as they can help avoid phishing attacks and other unwarranted messages. Firewalls act as a gatekeeper for your virtual traffic, meaning only the stuff that is meant to reach you, will. These tools can hugely help deter cybercriminals and keep your devices safe from harm. 

2. Multi-Factor Authentication

Next, we’d recommend using multi-factor authentication as they are a free way to strengthen your small business’s online security. Requiring two or more proofs of authentication before accessing any accounts may seem like a bit of hassle, but they can work well to discourage cybercriminals seeking vulnerabilities. Strong passwords are another free preventative method, so use them to your advantage by making them unique and hard to guess. 

3. Back-Up Data

Finally, backing up your data on multiple drives or servers is a key way of keeping all information up to date and secure even if the worst happens. This can be done on cloud-based servers and external hard drives, or you can use both to be extra safe. Backing up regularly will mean that if a cybercriminal is successful, you’ll still have access to all data and documents in perfect condition, allowing you to continue operations in your small business easily.

Protect Your Small Business Online

To enquire about cybersecurity software or for more information on how to protect your small business, feel free to get in touch with us at Lucidica where our experts are happy to talk you through your options online.