Cyberattacks represent a serious problem for small to medium-sized businesses (SMBs).
Consider that in 2019, 43% of attackers went after small businesses, and in 2021, 60% of SMBs said they were victimized by a cyberattack.
Even more worrisome? For small and midsize businesses, cyberattack impacts go beyond downtime, lost data and reduced consumer trust. According to the U.S. Securities and Exchange Commission, up to 60% of SMBs are forced to close within six months of a cyberattack.
But it’s not all bad news. While security threats remain a key concern for SMBs, greater awareness of potential problems has set the stage for a more effective response.
In this piece, we’ll consider what makes SMBs such tempting targets, tackle what’s changed for these companies and explore how giving security a seat at the table can reduce total risk.
Small Businesses, Tempting Targets
Large enterprises often seem like the more logical target for attackers, given the potential payout and the complexity of their IT stack. However, SMBs have actually become top-priority targets for attackers.
Three factors play a role in the habit of threat actors going after SMBs.
1. Reduced Awareness and Protection
Many small businesses can’t afford large, in-house IT teams. In some cases, they may have a team of one or two staff handling all tech concerns for the entire organization, or they may contract out this work to a third party. In other instances, non-tech staff may share the burden of trying to keep ..
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