Why are small businesses a target for cyberattacks?

Successfully attacking a major corporation can lead to a big payout for cybercriminals, but more than 72% of cyberattacks are targeted at small businesses. If there is more to gain from infiltrating the systems of a big business, why are the majority of attacks aimed at smaller companies? There are a few simple reasons why:

Smaller businesses usually have smaller fortresses.?

If you think about cyberattacks from an efficiency point of view, it makes sense why they are targeted more frequently. They’re often unsuspecting – more than half of small business owners don’t think they’ll be targeted by cybercriminals –?and nearly 40% don’t have a cybersecurity defense plan. When precautions aren’t taken to protect a business’s assets, breaking into the system is much easier.?

Smaller businesses are less equipped to fight back.?

Larger companies are more likely to have cyber insurance and a team of attorneys equipped to fight back against cybercriminals. While the payout of attacking a large company could be more profitable, the potential fallout is risky. In contrast, only 25% of small businesses have cyber insurance. Small businesses are exponentially less likely to have the resources in their back pocket to fight against a cybercriminal, and may be more likely to pay a ransom to make the whole issue go away.?

Smaller businesses can provide access to larger partners.?

Attacking a small business may be the means to an end for cybercriminals. If your small business partners with larger corporations, infiltrating your systems could provide access to bigger, more valuable companies. This can damage your professional reputation and put the integrity of your business on the line.?

Your small business does not have to become a victim. With the right defenses in place – including a backup plan, employee training and other best practices –?you can protect your business from a cyberattack. Connect with a member of the ProTech team to learn more.?