According to the findings of Accenture, cybercrimes are projected to cost an aggregate of $5.2 trillion around the world in the next 5 years. Therefore, cybersecurity for small businesses is of paramount importance.

The cost of each cybercrime is on the rise as well. Each cybercrime costs businesses an average of 14 million dollars.

With these figures, it is clear that cybercrime is the biggest risk that jeopardizes businesses of all kinds.

Small Businesses Under Attack

One particularly disturbing trend is that cybercriminals are showing an increased preference for targeting small businesses in particular. The reason for this is simple. Larger organizations often have much tougher security measures in place as compared to small businesses. With their bigger budgets, they can afford to hire full-time staff or a team of IT professionals who can take control of cybersecurity.

However, small businesses often lack the funds to hire full-time IT professionals. As a result, these businesses are more vulnerable to hackers than their large-scale counterparts. From the statistics, it is apparent that cybercriminals are seeking to exploit lax security standards to execute successful cyber attacks.

This is reflected in the fact that SMEs suffer 40 percent of cyber attacks as stated in the Accenture report. Despite this trend, only a meager 14% of these businesses are willing to secure their IT systems. Sadly, cybersecurity appears to be a low priority, despite the immense risk that it poses to modern business.

But even if small businesses were to be more proactive about cybersecurity, the task is not easy. A high degree of technical proficiency and experience is required for effective cybersecurity. Qualified and experienced IT professionals possess these attributes. However, small businesses lack the resources to hire a full-time staff of IT security professionals.

The Solution

Fortunately, there is an easy way out of this seemingly insurmountable problem. The solution is both sustainable and cost-effective.

It is high time that small businesses start outsourcing their IT security to the experts. Gone are the days when just having a good antivirus and firewall were enough for robust security. IT infrastructure is more extensive, complex, and sophisticated than ever before.

While this evolution has brought much value to businesses, it has also provided more openings for opportunistic attackers to launch their nefarious strikes. Cyber crooks are now using increasingly sophisticated techniques to destroy small businesses with ransomware, botnets, and covert infiltration that can go undetected for weeks and even months. The sensitive data siphoned off is then sold on the dark web.

To remedy this precarious situation, businesses now need the services of qualified and experienced professionals for maximum security that will keep determined and unscrupulous cybercriminals at bay. Regular security audits are of utmost importance to ensure that you remain one step ahead of wily cyber attackers who are inventing more sophisticated attack methods with each passing day.

You should give due regard to cybersecurity for small business and make it your utmost priority to avoid the serious repercussions of a data breach that could close down your business.

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