Safeguarding Small Businesses: Navigating the Cyber Risk Landscape

Strengthening Your Defenses in an Evolving Threat Environment

In today’s digital landscape, small businesses face escalating cyber threats, with cybercriminals exploiting “as-a-service” models to target vulnerabilities. Amidst this perilous terrain, it’s crucial for small businesses to understand and address their cyber risks effectively.

Between 2021 and 2022 alone, attacks against small businesses surged by nearly 200%, underscoring the urgent need for robust cybersecurity measures. However, many small businesses grapple with limited resources and expertise, leaving them vulnerable to cyberattacks.

To counter these threats and transform cyber risk into a competitive advantage, small businesses must adopt a proactive approach to cybersecurity. By implementing a layered security program aligned with industry best practices, small businesses can fortify their defenses and safeguard their digital assets effectively.

Cybercrime is Rapidly Growing to Affect Businesses Around the Globe

15%

Global cybercrime costs growth rate year-over-year

$10.5 trillion

Expected total cost of cybercrime by 2025

$21.44 trillion

United States nominal GDP in 2021

The Most Common Threats to Small Businesses

Ransomware

Security Misconfigurations and Unpatched Systems

Credential Stuffing

Social Engineering

Small Businesses are Big Business for Cybercriminals

58%

Of cyberattack victims are small businesses

47%

Of small business suffered at least one cyberattack in the last year

$2.98 million

The average cost of a data breach for a small business

The Damage of a Cyber Incident Extends Far Beyond the Initial Impact

Reputational Harm

Stolen Intellectual Property

Lost Customers

Operational Downtime

Making Cybersecurity Your Competitive Advantage Delivers Benefits

Increase Trust

Protect Your Crown Jewels, Customers, and Employees

Win New Business

Comply with Regulations

Determining Your Cyber Risk

Questions to Help Determine Your Exposure

What kind of sensitive data does your business handle, store, or transmit? (e.g., intellectual property, financial information, employee data)?
What technologies do you use to operate (e.g., Office 365, QuickBooks, AWS Cloud)?
What is your hourly cost per operational downtime?
How effectively could your teams function if they couldn’t use technology?
What would be the impact to your brand if you had a cyber incident?
Do you fall under any compliance or regulatory frameworks? What is the impact to your business if they are violated?
What about your customers?
How would a cyber incident impact your employees? How about their families?
What measures do you have in place to protect against cyber threats?

Contact us today to learn how we can help turn cyber from a risk into a competitive advantage

Give us a call at 864-335-9223 or reach out at our sales page