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Cybersecurity Threats Small Businesses Can't Ignore

As the digital footprint of small businesses expands, so does their exposure to cyber threats. Recent statistics paint a sobering picture: a significant portion of cyber-attacks specifically target the vulnerabilities of small enterprises. Thus, being unprepared is not an option.
two young small business owners looking at laptop

As cybercriminals cast a wider net, understanding and defending against these cybersecurity threats has become an essential concern for every organization, regardless of it’s size. Today, we’re talking about cybersecurity, the threats you should be aware of, and how to keep your business protected. 

Why Cybersecurity Matters More Than Ever 

Cybercrime rates are soaring, and attacks and the damages they result in are expected to continue to climb. Small businesses, the backbone of our economy, are not just targets but victims, suffering immense financial losses and irreparable damage to their reputation. With the looming danger of ransoms, revenue lost due to operational shutdown, increased insurance rates, and loss of trust from employees and clients alike, the stakes couldn't be higher. 

61% of all small businesses have reported at least one cyber-attack during the previous year.
43% of all data breaches involve small and medium-sized businesses.
USD $4.88M is the global average cost of a data breach in 2024—a 10% increase from 2023 and the highest total ever. -03
More than 2,200 cyber-attacks occur every day. -04
Every 39 seconds someone becomes a victim of a cybercrime.

Common Cybersecurity Threats 

One of the key elements of strengthening your defenses against cybersecurity threats is first knowing what’s out there. Here are some of the key strategies cybercriminals are using to infiltrate small businesses.  

 

Phishing Attacks 

Phishing is a deceptive method where cybercriminals send fraudulent emails or messages that mimic legitimate sources to lure individuals into providing sensitive data, such as passwords, banking details, or company secrets. For small businesses, a successful phishing attempt can lead to financial loss, unauthorized access to corporate networks, and significant data breaches. These attacks rely on social engineering techniques that manipulate users into making security mistakes or giving away information voluntarily. 

Phishing attacks can be more subtle than you realize. Think you can spot a phishing scam? Take this quiz to find out.  

Is this real or a phishing scam? Click to the next slide for the answer.
This is a real email.
Is this real or a phishing scam? Click to the next slide for the answer.de trabajo 1 copy 2
This is a phishing email.
Is this real or a phishing scam? Click to the next slide for the answer.
This is a phishing email.
Is this real or a phishing scam? Click to the next slide for the answer.de trabajo 1 copy 6
This is a real email.
Is this real or a phishing scam? Click to the next slide for the answer.
This is a phishing scam.

Check out these 3 Tips to Thwart Phishing and Social Engineering from our friends at Eberly Systems 

 

Ransomware

Ransomware is a type of malicious software designed to block access to a computer system or files until a sum of money is paid, often in cryptocurrency. For small businesses, a ransomware attack can halt business operations, leading to revenue loss and damaging the trust of customers. Beyond the ransom demand, the cost of system restoration and data recovery can be substantial, not to mention the potential legal ramifications of any data breach that may occur as a result. 

The Reality of Ransomware. Hear firsthand how small business owner Jason ended up paying $150,000 from a ransomware attack.  

 

 

Malware 

Malware, or malicious software, encompasses viruses, spyware, trojans, and other harmful computer programs cybercriminals use to disrupt business operations, steal sensitive information, and gain unauthorized access to networks. Small businesses may suffer the consequences of malware through corrupted files, compromised customer data, and the disruption of critical business services. The aftermath can include financial losses, legal penalties for data breaches, and a tarnished reputation. 

 

Insider Threats 

 90% of cyberattacks are caused by human error or behavior.

Not all cyber threats come from outside the organization. Insider threats originate from individuals within the company, such as employees, contractors, or business partners, who have inside information concerning the organization's security practices, data, and computer systems. These threats can be malicious, with intent to harm the company, or non-malicious, due to careless or uninformed staff. The damage can range from intellectual property theft to the accidental exposure of confidential information, all jeopardizing business integrity and customer trust.

 

DDoS Attacks 

Distributed Denial of Service (DDoS) attacks overwhelm a website or online service with traffic from multiple sources, rendering it inaccessible. Small businesses often find themselves particularly vulnerable due to limited cybersecurity defenses. The immediate effect is service disruption, but the longer-term impacts can include lost sales, reduced customer trust, and recovery expenses. For a small business, a DDoS attack can also signal vulnerabilities to cybercriminals, inviting further assaults. 

 

How a DDoS Attack works diagram

 

Is Your Business Protected from Cybersecurity Threats? 

Vigilance and preparedness are your allies in the fight against cyber threats. At Quality Digital Office Solutions, we understand the importance of robust cybersecurity measures to protect your business's integrity and continuity. As a trusted partner in Central Pennsylvania's business community, we are committed to providing you with innovative solutions and award-winning support to navigate the complexities of digital security. Looking for more helpful cybersecurity info? Check out our blog to discover more insights and tips on how you can protect your business and more! 

 

Is your Cybersecurity Up to Snuff? This comprehensive checklist will have your small business secure in no time at all. Download Your Checklist Today!