Learn if SMEs are vulnerable to cyberattacks, what are the most common reasons for the successful attacks, and how likely are you to face a ransom.
In a recent webinar hosted by Zenphi, the #1 tool for Google admins, Andy Sommer, a renown expert in cybersecurity and the founder of The Sommer Agency, shed light on a critical issue facing small and medium-sized enterprises (SMEs): cybersecurity. The discussion revealed that SMEs are far more vulnerable to cyberattacks than they might believe. Contrary to the common assumption that smaller companies fly under the radar, the reality is starkly different. In fact, SMEs are prime targets for cybercriminals.
The Reality of Cyber Threats to SMEs
Despite the prevalent myth that cyber threats are primarily a concern for large corporations, 61% of SMBs reported being targeted by cyberattacks in recent years.
One significant finding from the webinar highlighted that 82% of ransomware attacks are directed at companies with fewer than 1,000 employees. This statistic underscores the pressing need for SMEs to take cybersecurity seriously.
Common Reasons for Cyberattacks
The most frequent reasons for cyberattacks on SMEs include:
1. Lack of Data Security Hygiene
Many small businesses do not implement basic cybersecurity measures, leaving their systems vulnerable.
2. Human Error
Simple mistakes, such as clicking on malicious links or using weak passwords, can open the door to cyber threats.
3. Inconsistency
Inconsistent application of security protocols across the organization can create gaps that attackers exploit.
Other Contributing Factors
Several other factors make SMEs attractive targets for cybercriminals:
5. Underestimation of Risk
Many small business owners underestimate the risk and potential impact of a cyberattack.
6. Lack of Training
Employees may not receive adequate training on cybersecurity best practices, increasing the likelihood of human error.
7. Absence of Incident Response Plans
Without a formal incident response plan, SMEs struggle to respond effectively to cyber incidents.
The Bigger Picture
The insights shared during the webinar are supported by various studies and reports, which consistently show that SMEs are at significant risk of cyberattacks. These findings emphasize the importance of adopting comprehensive cybersecurity measures tailored to the specific needs of small businesses.
For those interested in diving deeper into the statistics and understanding the scope of the issue, we invite you to download our infographics that contain crucial data. This report consolidates the latest research and offers actionable insights to help SMEs bolster their cybersecurity defenses.
Download the infographics today
Download the eye-opening report that shows the level of SME’s vulnerability against cyberattacks, the average size of ransom and how fast the recovery happens on average.
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