Small business IT managers buy and implement expensive security technologies hoping to keep themselves safe from cyberattacks.
But they’re missing one crucial thing: Employees are the weakest link in their cybersecurity strategy.
Ninety percent of successful cyberattacks are executed with information stolen from unsuspecting employees. Twenty-eight percent of cyberattacks involve an insider. In fact, one out of every five security breaches is the result of human error.
Security concerns rank No. 2 among the challenges faced by small and midsize businesses, according to our survey.1
Seventy percent of cyberattacks target small businesses, which, on an average, lose around $80,000 per attack, not to mention the lost business opportunities and damaged reputation.
To safeguard your business from hackers and harmful bots, you must have multiple defense mechanisms to ward off attackers from different fronts.
The key challenge for small business owners is tackling cybersecurity with limited budgets and IT expertise, while juggling other pressing business and customer issues that take up the bulk of their time and resources.
Eighty-six percent of small businesses do not have effective means to mitigate cyber risks. For most, the only precaution in place is antivirus software, despite the fact that 43 percent of cyberattacks target small businesses.
According to Symantec, 35 percent of users have at least one unprotected device—and that figure is expected to increase as more devices are connected to the network with the rapid growth of the internet of things (IoT).
Choosing between endpoint security and antivirus software for protection depends on many factors: the size of your network, the presence of remote workers, business policies such as BYOD (bring your own device), the need for centralized security controls, and the security features you require.
Small businesses that make the wrong choice of security investment—endpoint security versus antivirus software—are leaving themselves open to multiple security risks or will end up wasting a good part of their security budget, or both.
Predictions have always piqued our interest. Maybe that’s because predictions are so hard to make and even harder to get right.
But, making the right market predictions will save your business tons of money and will deliver superior results.
We all know that “oh no” moment when the document you painstakingly perfected for hours—but forgot to save—is suddenly gone because of a power outage. It’s very, very frustrating.
Now, imagine that instead of one document, it’s all your business’s data. You’ve just gone from frustration to complete devastation.
Losing data and not being able to get it back can be disastrous, for individuals as well as for businesses big and small.
- Thirty-five percent of companies lose data and access to at least one business-critical app after a natural or man-made disruption.
- Forty-two percent of ransomware victims are not fully able to recover their data.
- Forty percent of small businesses are forced to close as a result of a disaster.
Yet, despite those statistics, 58 percent of small businesses are not prepared for data loss.