As the world increasingly moves online, small business cybersecurity is more at risk. In only September of 2021, there were 1,291 breaches compared to the 1,180 breaches that occurred in 2020. In 2021, U.S. businesses lost over $6.9 billion due to cyberattacks, and the cost of cyberattacks is expected to grow by 15% in the coming years.
Cybercrime is now one of the biggest threats to businesses, independent of size. While large businesses are targeted for their wealth of information, hackers know that they might have to face more extensive cybersecurity measures. Some small business owners might incorrectly assume that hackers want to go after the “big guys” and not the smaller companies, but this couldn’t be further from the truth—hackers target small businesses too, and often.
Learning how to increase your small business cybersecurity is not only affordable and possible, but crucial to the longevity and success of your business.
Cybersecurity Threats to Chicago Small Businesses
Businesses in Chicago face a number of threats that could disrupt their business. These threats include the following:
Phishing
Phishing weaponizes fraudulent emails or websites to trick users into revealing sensitive information, such as login credentials or credit card numbers. Chicago businesses are especially susceptible to phishing attacks if employees do not know how to recognize and handle phishing emails.
Ransomware
Ransomware is a type of malware that encrypts a victim’s files and demands a ransom be paid in order to decrypt them. These attacks can be devastating for small businesses, as they can often result in the loss of important data and the interruption of business operations.
Denial-of-Service (DoS) Attacks
DoS attacks are designed to overload a website or server with requests, preventing legitimate users from accessing the site or service. These attacks can cause significant disruption for small businesses, as they can prevent customers from being able to access their website or use their services.
Malware
Malware damages or disables computers. It can be used to steal sensitive data, hijack web browsers, or even delete important files. Chicago businesses need to be on the lookout for malware because it can infect your computers and spread through your servers.
Data Breaches
A data breach is the unauthorized access of a company’s sensitive data. This can include customer credit card numbers, login credentials, and other sensitive information. Data breaches can be devastating for small businesses, as they can damage the business’s reputation and result in significant financial losses.
Do Cybercriminals Target Small Businesses, too?
Cybercriminals target small businesses because they know that many of them don’t have the necessary security measures in place to protect themselves. Around 54% of small businesses don’t have cybersecurity plans. By not having a small business cybersecurity plan, your company is left more vulnerable to attacks.
If you are unsure of how to protect your company against cybercriminals, there are a number of small business cybersecurity practices that you can implement quickly and efficiently.
Best Practices for Fighting Against Cyberattacks
Try incorporating these seven small business cybersecurity practices to protect your data.
- Educate employees about cybersecurity threats and how to avoid them
- Invest in a managed cybersecurity service
- Implement strong password policies
- Use multi-factor authentication
- Keep your software up-to-date
- Restrict access to sensitive data
- Back up your data regularly
- Implement IT security policies and procedures
Partner with Solutions in Data to Protect Your Small Business Cybersecurity
As a small business owner in Chicago, you need to be prepared for the possibility of a cyberattack. Solutions in Data can help you protect your small business with our local managed cybersecurity services.
Contact us today to discover how we can help you safeguard your business against the ever-growing threat of cybercrime.
