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Increasing Risk for Local Companies

Cyber attacks have always been a concern for large corporations. However, in recent years, businesses with less than 150 employees have been increasingly targeted by cybercriminals. The escalation has been notably sharp since the onset of the COVID-19 pandemic. For many, this rise has also raised concerns about the potential of a "cyber pandemic" and its implications.

1. The Rise Since the COVID-19 Pandemic

With the COVID-19 pandemic pushing numerous businesses online, many small companies ventured into the digital realm, often for the first time. These businesses had to adopt digital tools, platforms, and practices rapidly, sometimes without adequate preparation or security measures.

Shift to Remote Work: As many companies transitioned to remote working models, they faced the challenge of securing multiple endpoints. Without the proper infrastructure, employee home networks became susceptible entry points for cyber attacks.

Overreliance on Digital Platforms: With physical storefronts and offices shuttered, there was an increased dependency on digital platforms for sales, communication, and operations. This shift expanded the attack surface for cybercriminals.

2. Why Smaller Businesses?

Perceived Vulnerability: Small businesses often lack robust security infrastructures, making them attractive, easy targets. Cybercriminals perceive these businesses as low-hanging fruit, especially compared to more fortified, larger enterprises.

Limited Resources: Small businesses may not have the budget or know-how to invest in advanced security solutions. They might also lack dedicated IT staff to manage and monitor security threats.

Valuable Data: Contrary to common belief, small businesses possess valuable data. Whether it's customer information, financial details, or proprietary insights, cybercriminals can exploit this information for financial gains or further attacks.

3. The Threat of a "Cyber Pandemic"

The term "cyber pandemic" refers to a global and widespread cyber event that could disrupt digital infrastructures, causing severe harm to economies, public utilities, and day-to-day life.

For business owners and local companies, such an event would be catastrophic. Potential repercussions include:

Financial Impact: Beyond immediate financial losses, a cyber pandemic could lead to increased insurance premiums, litigation costs, and loss of customer trust.

Operational Disruptions: Businesses may face extended downtimes, which could be detrimental, especially for those with limited resources.

Reputational Damage: In an age where reputation is paramount, cyber incidents can erode trust and deter customers.

Supply Chain Disruptions: Local companies are often interlinked. If one gets compromised, the ripple effect could disrupt the entire local business ecosystem.

4. Safeguarding Against the Threat

It's crucial for small businesses to recognize the gravity of the threat and take proactive measures:

  • Educate Employees: The first line of defense is often the employees. Regular training and awareness sessions can prevent phishing and other common cyber attack tactics.

  • Invest in Security: Even with limited resources, small businesses can find affordable security solutions that offer substantial protection.

  • Regular Backups: Keeping regular backups ensures that businesses can recover data quickly in case of a ransomware attack or data breach.

  • Stay Updated: Regularly updating software, systems, and applications ensures that known vulnerabilities are patched.

In conclusion, the rise in cyber attacks on small businesses is a reflection of the broader vulnerabilities in our interconnected digital age. As we continue to embrace the digital revolution, it's essential to recognize the threats and be prepared to defend against them. The digital realm offers immense opportunities, but it's crucial to navigate it with awareness and diligence.

Download our FREE Cyber Security Training Guide for your employees.


Russell Halecyber security, cyber attack, small business, business owners