Why SMBs Are At A High Risk For Cyber Security Threats In 2021

Why SMBs are high risk for cybersecurity threats in 2021

Cyber attacks can happen to any organization at any time – and this includes small and medium sized businesses (SMBs). In fact, SMBs are particularly vulnerable to cyber security threats in 2021. Why? We’ll explore a few of the reasons in this blog from West County Computers.

 

SMBs Don’t Expect To Be Targeted By Hackers

You often hear about large-profile data breaches affecting companies like Target, Equifax, and Home Depot – but you’re less likely to hear about cyber attacks that affect SMBs. Because of this, many SMB owners believe they are not likely to be targeted by hackers.

But this is not the case. SMBs are a very popular target for hackers. As a matter of fact, more than 70% of cyber attacks target small businesses. Many SMBs have valuable information that can be exploited by hackers, including payment information, customer addresses, intellectual property, and other such data that hackers can use or sell for a profit.

 

Many SMBs Don’t Have Cyber Security Experts In Place To Protect Themselves

SMBs are frequently targeted by hackers, and this issue is only made worse by the fact that many small businesses don’t have appropriate protections in place to fight back against hackers and protect their information.

A 2020 report on small business cyber security found that only 53% of small businesses had an in-house cyber security expert – and only 43% of small businesses outsource their cyber security to third parties.

 

SMBs Often Don’t Train Employees In Cyber Security Best Practices

Another cause of SMB cyber security vulnerabilities is that many SMBs do not provide their employees with proper training in cyber security best practices, such as how to recognize and avoid phishing attempts, creating strong passwords, and other such steps that can reduce a business’s vulnerability to cyber attacks.

47% of hacks and data breaches are caused by negligence or human error, such as downloading a file contaminated with a virus. Because of this, proper cyber security training is absolutely essential for businesses of all sizes – but while enterprise companies have invested in proper training, many SMBs haven’t.

 

Most SMBs Don’t Have A Large Budget For Cyber Security

The final reason that SMBs are appealing targets for hackers is that they often do not have a large budget for cyber security. Many SMBs can’t afford to hire in-house cyber security experts to protect their data and secure their networks – which leads to a higher risk of data breaches.

In fact, about 29% of SMBs spend less than $1,000 on IT security each year. As hackers continue to increase their attacks on small businesses, it’s becoming more important to invest in the proper protection for your data.

 

Need Help Protecting Your Data? Contact West County Computers Today!

At West County Computers, we’re here to help you protect your business from hackers. You can get a free IT risk assessment by clicking here, and learn more about potential vulnerabilities and how you can protect your data. Ready to get started? Just contact us online or give us a call at 707-360-8652.

 

Related Articles:
How Can You Protect Your Small Business Against Cyber Attacks?
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What Are the Effects of Cyber Attacks on Businesses?
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The Top 4 Computer Security & Network Vulnerabilities Affecting Your Business
Why Is Cyber Security Important For Small Businesses?

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