What does having a Small business mean to you?
Small businesses are essential for fostering local economies, keeping money close to home, and supporting neighborhoods and communities. Most importantly, small business provides opportunities for fulfillment of the American Dream. The belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society where upward mobility is possible for everyone. This American Dream is achieved through sacrifice, risk-taking, and hard work.
As technology evolves, so do small businesses. Everything we do these days, one way or another, revolves around technology. From processing to payments, even “Mom and Pop” shops have to change with the times. But with this technological evolution, threats inevitably arise.
Below are four alarming small business cyber security statistics:
· 43% of cyber-attacks target small businesses.
· 60% of small businesses that are victims of a cyber-attack go out of business within six months.
· Cybercrime costs small and medium businesses more than $2.2 million a year.
· There was a 424% increase in small business cyber breaches last year.
How can we prevent these cyber-attacks?
From the FCC (Federal Communications Commission), here are 10 Cyber Security Tips for Small Businesses:
1. Train employees in security principles
2. Protect information, computers, and networks from cyber attacks
3. Provide firewall security for your internet connection
4. Create a mobile device action plan
5. Make backup copies of important business data and information
6. Control physical access to your computer and create user accounts for each employee
7. Secure your Wi-Fi networks
8. Employ best practices on payment cards
9. Limit employee access to data and information, limit authority to install software
10. Passwords and authentication.
These cyber-attacks damage communities, livelihoods, and businesses that have been in families for generations. Although cyber-attacks may be inevitable, that does not mean we cannot do everything in our power to make them preventable.