Based on the Small Business Statistical Report back in 2016, the vast majority (over nine in ten) of Australian businesses are small businesses. It looks like a lot but let gets some numbers to put that statement in context:
- Small businesses account for 33 percent of Australia’s GDP
- Small businesses employ over 40 percent of Australia workforce
- Small businesses pay around 12 percent of total company tax revenue
Now, if we look at those numbers we may find out that Small Businesses occupy a big place in Australia’s economy. But hang on, you may start thinking, this is a Security blog and now we start talking about SMB, economy and other non-security related stuff? Well, let me tell you that nowadays Small Businesses are being actively targeted by cybercriminals.
Small Businesses are an Easier Target for Cyber Attacks
You may think, well I have a small business and my turnover does not compare against the big companies, why am I being targeted? And that it is really a fair point. Unfortunately, big companies put aside a bigger budget for ICT and Cyber Security in general compared what you may be put, if any. This has been clearly identified by cybercriminals and found out that without major effort they are able to get some “free” money without investing hours and technology trying to break the big boys.
How to protect your small business from cyber attacks
This does not mean that there aren’t small businesses that care about cybersecurity. An article from CSO stated that some of the small and medium businesses have access to basic antivirus solutions and possible some sort of spam filtering services. This is where working with your MSP (Managed Service Provider) or MSSP (Managed Security Service Provider) can make a huge difference. An MSP spends hours researching, investigating, testing and proposing the best cost-effective solution for your company and environment. What is the point of installing a top of the range firewall which may cost you $70,000, if you have an annual turnover that is less than that?
Do you know that on average, hackers are only detected in a network after 86 days of being there? There is a lot that they can do in 86 days. Remember, the longer an intruder is inside your network, the more damage they can do.
Cybercriminals are getting smarter by the day. Do not lower your guard, as one day they will be knocking on your door.
Be safe out there, until next Malware Monday.