Cybersecurity, Needs to be addressed.

Do not let the size of your business make you think you won't be hacked. The number starts off with a $190,000.00 bill the first day, can your company afford to pay the cost? We are your solution offering Packages designed for Small business but strong enough for enterprise-class businesses. Call today at 877-405-8441. In reality, one computer in your business can cost you a lot, so protect your assets.

1. $7.68 Million: The Average Cost of an Insider-Related Cyber Incident for SMBs

Well, that number certainly starts things off with a bang. The costs associated with the impacts of insider threats vary greatly depending on the size of the organization and the scope of the attack. Research from IBM and the Ponemon Institute’s The Cost of Insider Threats Global Report 2020 shows that small organizations (those with fewer than 500 employees) spend an average of $7.68 million per incident.

2. 43% of SMBs Lack Any Type of Cybersecurity Defense Plans

What if we were to tell you that more than two in five companies that have 50 or fewer employees in the U.S. and United Kingdom don’t have any type of cybersecurity defense plan in place? Yes, that’s right. A January 2020 research study by BullGuard showcases a disturbing number of businesses are choosing to be reckless. They’re essentially rolling the dice in terms of securing their data (and that of their customers) from small business cyber attacks.

3. One in Five SMBs Don’t Use Any Endpoint Security Protections

BullGuard’s survey of 3,083 SMBs shows that 23% of small businesses in both the U.K. and U.S. neglect to use endpoint security mechanisms. Additionally, 32% of those surveyed who do use endpoint security protections say that they rely solely on free, consumer-grade cybersecurity solutions. Yeah, take a moment to wrap your head around that one!

4. 60% of SMB Choose to Keep Their Heads in the Sand About Attack & Breach Risks

Additional data from BullGuard’s survey further chips away at our hope for the futures of some SMBs. Despite nearly one-in-five (18.5%) small businesses experiencing cyber attacks or data breaches, 60% of those surveyed SMB owners think their businesses aren’t a likely target of cybercriminals.

However, if you’ve read virtually any recent cybersecurity reports or literature, you’d know that no company is “too small” or “too large” that a cybercriminal won’t take an interest in. Like a modern version of Goldilocks — you know, if she was a cybercriminal rather than a trespasser breaking into bears’ houses — she’d have no problem trying out the cyber defenses of every company to find a target that’s “just right.”

Paul Lipman, CEO of BullGuard, states the issue nicely: "Small businesses are not immune to cyber-attacks and data breaches and are often targeted specifically because they often fail to prioritize security. Caught between inadequate consumer solutions and overly complex enterprise software, many small business owners may be inclined to skip cybersecurity. It only takes one attack, however, to bring a business to its knees.”

It seems that many SMBs are overly confident about the safety of their data and organizations as a whole. Although we’ve not quite reached the “full ostrich” level here (yes, we know that the ostrich thing a myth, but you get the point), we’re sure getting close.

5. 28% of the Breaches in 2019 Involved Small Business Victims

Nearly one-in-three breaches included in Verizon’s 2020 Data Breach Investigations Report (DBIR) calculations involved small businesses. This means that businesses need to do more to protect not only their digital assets and web presence but also to protect the security and privacy of their customers as well.

Wondering whether 28% is a good number or not? Well, it’s not great — It’s 28% too high if you ask us! — but it’s still better than what it was previously. This number is down from the 43% data breach stat for SMBs that Verizon reported in their 2019 DBIR. (this could be due to many were closed due to the virus)

6. Phishing Is Top Threat Action for More Than 30% of Small Organizations

Phishing has been an SMB’s arch-nemesis for several years — and this year’s no different. Verizon’s 2020 DBIR report shows phishing as the leading threat action, followed by the use of stolen credentials and password dumpers.