Cybersecurity Challenges
Small and medium-sized businesses often face many hurdles when it comes to securing their business. Here are common cybersecurity challenges that impact your business.
Data Breach
A data breach occurs when unauthorized people gain access to your company's digital information. When private or confidential data gets stolen or exposed, criminals can potentially use this information to:
• Steal money from your business or customers.
• Impersonate your employees or customers.
• Sell the information to other threat actors.
• Blackmail your company.
Ransomware
Ransomware is a digital extortion scheme where malicious software locks up a company's computer systems, essentially holding business-critical data hostage.
• Criminals encrypt your data and demand payment to restore access.
• Attacks can arrive through emails, websites, or network vulnerabilities.
• Paying the ransom doesn't guarantee you'll get your data back.
• Can potentially destroy a small business's operations in minutes.
Phishing
Phishing is a type of online scam where criminals try to trick you or your employees into giving away sensitive information like passwords, credit card numbers, or company data.
• Be suspicious of unexpected emails and never click links or download attachments from unknown sources.
• Verify requests through a separate communication channel.
• Look for signs of fake emails like spelling errors or strange email addresses.
• Use multi-factor authentication.
Cybersecurity Leadership
Not having cybersecurity leadership is a problem because it leaves your business vulnerable to threats that can harm your operations, reputation, and finances.
• Hackers exploit weak spots, and businesses without cybersecurity expertise are easy targets.
• Cyberattacks can cost your business thousands—in recovery, lost revenue, and legal issues if customer data is exposed.
• A cyberattack can grind your operations to a halt, leading to downtime that affects productivity and customer satisfaction. Cybersecurity Leadership ensures there’s a plan to prevent and recover from incidents.
Cybersecurity Awareness Training
Cybersecurity awareness training teaches you and your team how to recognize and avoid common online threats like phishing emails, fake websites, and suspicious downloads. It’s like learning the basics of locking your doors and checking who’s knocking—just in the digital world.
• Cyberattacks can lead to stolen money, leaked customer data, and damaged reputation.
• Hackers often target small and medium-sized businesses because they assume you’re not prepared.
• Most cyberattacks succeed because of human error, like clicking on a fake email. Training reduces those mistakes.
• Showing customers you take security seriously makes them feel safe doing business with you.
Lack of Cybersecurity Fundamentals
Cybersecurity is protecting your business’s computers, data, and systems from threat actors who try to steal, damage, or disrupt them. Think of it like putting locks on your doors and security cameras in your office—but for your digital world.
• Small businesses are attractive to hackers because they often lack general fundamental cybersecurity than larger companies.
• Deploying fundamental controls and settings is difficult without the right expertise and staying updated on the latest threats is nearly impossible without a dedicated team.
• Some industries require businesses to follow strict cybersecurity rules. Staying secure helps you avoid penalties.
• Knowing your business is secure lets you focus on growth instead of worrying about potential threats.