Many small businesses are easy targets for cyber criminals as they do not have adequate Data Security which makes them highly vulnerable.
Usually it is seen that big enterprises are targeted by attackers who often steal their private data. However, there are also lots of small businesses which are also targeted by attackers equally if not more than the large corporations. As the small business owners are not aware of their state of security and often become sitting ducks for attackers as they find very low level of security measures deployed by small business owners.
According to a recent research, it was revealed that majority of the small owner more than two thirds of those surveyed assume they are safe and do not have anything to worry about. And more than half of those feel they have adequate security measures in place. Whereas, according another research it was found that more than 70% of attacks which result in data loss are targeted at smaller business only. And the main reason behind is the false assumption of security by small business owners.
Another study by the National Cyber Security Alliance found that over 20% of small business fall victim to cyber attacks and more than half of those close within 6-12 months since the attacks. These are shocking numbers as even small amount of data loss can be fatal for small business owner which do not have adequate security measures implemented.
Reasons of Failure
The main reason that many small businesses shut-down or are not able to get back to their previous position is due to lack of resources. When a business faces an attack it leads to downtime at times and there may be permanent data loss which makes it impossible to get back at times. And on many occasion the businesses have to compensate their clients for the inconvenience cause due to the security breach which can ring a death knell for them.
Lastly, a business that has been attacked is often considered uncompetitive and one which cannot be trusted which takes customers away from them leading to loss of business.
There are many things which can cause a business to fall victim to an attack. We look at some to the top ones:
Many businesses often leave the onus of protecting their data with security providers. However, many do not take the trouble of checking the reliability of the service provider and whether they would be good enough for protecting them or not.
Whether it is your cloud service provider or you have a remote backup solution make sure that the service provider is secure and has taken the necessary measures to protect client data.
Despite being aware about the importance of data and how easily it can be lost there are many SMB’s which do not take this seriously and rarely backup their data. Most of the businesses cite lack of budget for not having a backup solution. What these businesses do not understand it that losing your data would cost you more money than you would spend on a backup solution. If not an online backup then at least a local backup is something that each business must invest in.
Given the findings about state of data security with respect to small businesses and its consequences it is hard to imagine any business owner taking the risk. It is should be a priority of every business to incorporate data security and regular backups as a part of their business functions and also make a provision for it in the yearly budget.
After all, it is always better to be safe than sorry and you cannot be so lenient when it comes to business.
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