Cyberattacks aren’t just a risk—they’re practically inevitable. Small and large businesses face constant attacks from hackers who are getting smarter and more sophisticated by the day. If you think your business is safe, think again.
The growing threat of cyberattacks
Did you know that 43% of all cyberattacks target small businesses? It’s easy to see why. With fewer resources to spend on cybersecurity, smaller companies are often perceived as low-hanging fruit.
But larger enterprises aren’t in the clear either. Big companies might have more resources but also more entry points for hackers to exploit.
- The MGM Resorts ransomware attack disrupted operations entirely, demonstrating that even large, well-known brands are vulnerable to debilitating breaches.
- The MOVEit cyberattack exposed sensitive data from numerous organizations, including those widely considered secure.
These aren’t isolated incidents. Cybercrime is an ever-evolving threat, and businesses that don’t stay vigilant are setting themselves up for failure.
Why your business is a target, no matter its size
If you believe hackers only go after big corporations, think again. Cybercriminals don’t care about the size of your company—they care about the vulnerabilities you leave exposed.
- Small businesses often lack the extensive security teams and resources that large enterprises can afford. This makes them easier targets. Think about it: if a hacker can breach a smaller company with less effort, why wouldn’t they?
- Large businesses, on the other hand, might have more robust security protocols, but their sheer size often means more potential entry points for attackers to exploit. More data, more systems, more people—more risks.
However, human error makes both small and large businesses equally vulnerable. People are often the weakest link in the cybersecurity chain, whether it’s an employee clicking a phishing link or poor password management.
What’s at stake for cyberattack victims
When a cyberattack hits, the financial toll can be staggering. Let’s break it down:
- Data breaches: What is the global average cost of a data breach? Around $4.45 million. Think about the cost of notifying affected customers, fixing the breach, legal fees, and potential lawsuits. And that’s before you consider the regulatory fines.
- Ransomware: In 2024, 82% of ransomware attacks targeted small businesses, with a 75% chance of bankruptcy if they fell victim. But don’t think larger businesses get off easy. Ransomware demands can run into the millions for big companies, and the downtime alone can devastate operations.
Can your business survive the fallout?
The financial hit is bad, but the reputational damage might be even worse. Trust is everything, and once it’s broken, it’s hard to win back.
- Target’s 2013 breach: It affected over 40 million customers, and they’re still working to rebuild their reputation.
- Equifax in 2017: Personal data from 147 million people was exposed. They settled for $700 million, but the blow to their reputation? Priceless.
If customers don’t trust you to protect their data, they’ll take their business elsewhere. And fast.
Key strategies to protect your business from cyberattacks
It’s not all doom and gloom—there are concrete steps you can take to safeguard your business from cyber threats. Here’s where to start:
1. Encrypt your data
Encryption is like locking your data in a vault. Even if a hacker gets in, they can’t make sense of the information without the key. This is crucial for sensitive customer data, financial information, and proprietary business intel.
2. Use a VPN
VPNs create a secure tunnel for internet traffic by encrypting data and masking IP addresses. This tool makes it difficult for hackers to trace user activities, target specific devices, or launch attacks. VPNs are compatible with multiple operating systems, including VPN for Mac, Windows, and Linux–which is especially useful as more and more businesses push into remote work options for employees.
3. Keep software updated
Outdated software is like leaving your front door wide open. Hackers love exploiting known vulnerabilities in old software. Regular updates ensure that you’re always protected against the latest threats.
4. Train your employees
Your employees are often your first line of defense. Make sure they know how to spot phishing attempts, avoid suspicious links, and manage passwords securely. Regular training sessions can help reinforce these practices, keeping your team vigilant.
5. Implement multi-factor authentication (MFA)
You wouldn’t rely on just one lock to secure a vault, would you? MFA adds an extra layer of security, requiring users to provide two or more verification factors before accessing your system. This process makes it much harder for unauthorized users to break in, even if they have a password.
6. Use a data removal service
In addition to these measures, it’s equally important to consider a professional data removal service to further protect your business. A reliable service can help identify and securely remove sensitive or outdated information that may otherwise become vulnerable. To make the best decision, we recommend exploring the best data removal service options, ensuring you find the right fit for your business needs.
Emerging threats and how to stay ahead
As cyber threats evolve, businesses of all sizes must remain vigilant to protect their data. Keeping their company safe will include minimizing human errors, staying current with security practices–and, most importantly, acknowledging the risks.
