What’s more, these businesses often lack the resources to defend themselves successfully from attacks. That can be a major problem.Ī joint report by IBM and the Ponemon Institute found that the average cost of a data breach increased by 10% in 2021, and Verizon’s data indicates that the cost of 95% of incidents for SMBs fell between $826 and $653,587. Unless they focus on shoring up their defenses, they may inadvertently end up leaving points of entry wide open for hackers. When it comes to starting a small business, new owners have many decisions to make and often leave cybersecurity measures by the wayside. Why cyberhackers go after small businessesĪccording to Verizon‘s 2021 Data Breach Investigations Report, 46% of breaches impacted small and midsize businesses.
We’ve compiled info on why your small business could be at risk of a cyberattack and how to avoid a compromising situation with cybersecurity best practices. You may not know when an attack could occur, but taking proper precautions can hamper or completely stymie a hacker’s attempt to access your network. And just as ancient merchants were sometimes beset by bandits on the actual Silk Road, today’s entrepreneurs can easily find themselves under attack from cyber malcontents working to derail companies through theft and disruption. As such, the internet has become a digital Silk Road that facilitates nearly every facet of modern life.
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