• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Submissions
  • About Us
  • Contact Us
  • Aug 12, 2022
  • Startup
    • Creating a Plan
    • Funding a Startup
    • Franchise Center
    • Getting Your Office Ready
    • Making Your Business Official
    • Marketing Your New Business
    • Personal Readiness
  • Run & Grow
    • Customer Service
    • Human Resources
    • Innovation
    • Legal
    • Operations
    • Risk Management
  • Leadership
    • Best Practices
    • Communication
    • Green Initiatives
    • Open Culture
    • Strategic Planning
    • People Skills
  • Sales & Marketing
    • Advertising and Lead Generation
    • Marketing Innovations
    • Marketing Plans
    • Online Marketing
    • Relationships
    • Sales Activities
  • Finance
    • Budgeting and Personal Finance
    • Payments and Collections
    • Tax and Accounting
    • Pricing Strategy
    • Working with Investors
    • Working with Lenders
  • Tech
    • eCommerce
    • Hardware
    • Software
    • Security
    • Tech Reviews
    • Telecom
  • Shop

SmallBizClub

Helping You Succeed

Home / Technology / Security / Cyber Attacks are on the Rise for Small Businesses
Cyber Attacks are on the Rise for Small Businesses

Cyber Attacks are on the Rise for Small Businesses

3247 Views

Jan 9, 2017 By SmallBizClub

Cyber security is something that small businesses should take seriously. Many small businesses tend to neglect cyber security because they typically do not think that they are a target for hackers. However, the number of cyber attacks made on small business entities has been on the rise for the past five years. A whopping 43% of small businesses have encountered some sort of cyber security threat or have been hacked.

Small businesses make for good targets because they rarely have sufficient resources to dedicate to bulking up their cyber security. For hackers, small businesses can be a treasure trove for gathering customers’ personal data and payment information because more often than not small businesses are using outdated technology, outdated protection software, and poor security practices. Small businesses are often vulnerable to attack, and small businesses that do not make cyber security a top priority are effectively sitting ducks.

Small Business Cyber Security Statistics

According to Symantec’s 2016 Internet Security Threat Report, small businesses are under constant threat from cyber attackers. According to the Threat Report, small businesses are defined as having 250 employees or less. Below is just a sampling of Symantec’s cyber security statistics that are relevant to small businesses.

  • While one out of every two large businesses are at risk for suffering a cyber security attack, one out of 40 small businesses are at risk of suffering some sort of cyber security breach.
  • Hackers often do not just make a single attack on a small business. Hackers usually make multiple attempts to gain access to a small business’s computer systems.
  • Ransomware type attacks against small businesses are on the rise as many small businesses are easily overwhelmed when their computer systems are held hostage by malware.

Phishing is Still Used by Hackers Against Small Businesses

Small businesses are most likely to be hacked through some sort of phishing scam. Oftentimes, hackers target their phishing attack on employees whose job functions relate to managing the company’s finances or those employees with access to customer information. Hackers who use phishing scam to gain access to a small business’s computer systems rely on the employee making a mistake, or being tricked into opening an infected email and clicking the link contained inside, or downloading the attached file. 30% of phishing emails are opened by employees at companies, and 13% of phishing emails are successful at having an employee infect a work computer system.

Over time, phishing attacks have evolved to become even more tricky; spear phishing has become an increasingly popular type of cyber attack used against small businesses. Spear phishing attacks on small businesses increased a whopping 55% between 2014 and 2015. Spear phishing is where an employee appears to receive an email from a known source, such as a fellow co-worker, superior, of third party business partner, but the email is really a fake designed to infect the recipient’s work computer.

Cyber Security Best Practices

Small businesses are constantly faced with the threat of a cyber attack and cyber security is going to become more and more important as hackers use more sophisticated hacking techniques. Small businesses need to follow cyber security best practices to protect themselves and their customers’ personal information. They need to give cyber security the time and resources necessary to rebuff cyber attacks and to neutralized cyber threats or face growing liability.

john-di-giacomoAuthor: John Di Giacomo is partner with the Internet law firm Revision Legal and has extensive experience in Internet law, intellectual property, corporate law, and international law. He has litigated matters in these areas in state and federal courts across the United States, including in front of courts of appeals and international arbitration bodies, such as the World Intellectual Property Organization, National Arbitration Forum, and the South African Institute of Intellectual Property Law.

John also serves as a board member on the Traverse City Downtown Development Authority and as chairman of the board of pH Productions, a comedy theater in Chicago’s Andersonville neighborhood. He rarely leaves work behind, but, when he does, you can find him sailing on Lake Michigan, fly fishing, or spending time with his wife Brooke and his dog Grimace.

Follow him on Facebook & Twitter @revisionlegal or @jdigiacomo and LinkedIn at revision-legal.

Filed Under: Security Tagged With: Network Security, Security, Technology

SmallBizClub

SmallBizClub

SmallBizClub.com is dedicated to providing small businesses and entrepreneurs the information and resources they need to start, run, and grow their businesses. The publication was founded by successful entrepreneur and NFL Hall of Fame QB Fran Tarkenton. We bring you the most insightful thinking from industry leaders, veteran business owners, and fellow entrepreneurs. That means guides to the complex worlds of financing and technology. It means business owners sharing their personal stories—both successes and failures— through articles, video, and most important, answers to your small business questions. Follow us on Facebook, Twitter, and LinkedIn

Related Posts

  • tis-the-season-for-online-scamsSmall Businesses at Higher Risk of Being Scammed than Large Companies
  • Witchcraft or Science – What Makes an ID Scanner Tick?
  • 5 Tips to Protect Confidential Information

Primary Sidebar

Random

Why and How to Align Your Team Through Brand Values

Aug 11, 2022 By Luke Britton

Why Businesses Should Treat Employee Burnout as a Risk Management Issue

Aug 11, 2022 By Andrew Deen

From Beat Cop to Entrepreneur: A Unique Startup Story

Aug 10, 2022 By SmallBizClub

a-startup-goldmine--combining-healthcare-and-technology

‍9 Tips for Making Your Healthcare Business More Successful

Aug 9, 2022 By Charlotte Sylvester

employment-practices-liability

‍5 Business Liabilities That Can Cause You A Ton Of Trouble

Aug 9, 2022 By Jeremy Bowler

Footer

About Us

Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Copyright © 2022 by Tarkenton Institute, Inc. All Rights Reserved | Terms | Privacy