Home / Blog / Small and Medium-sized Enterprises are Main Targets for Cyber Breaches

Small and Medium-sized Enterprises are Main Targets for Cyber Breaches

Small and medium-sized enterprises (SMEs) are vital to communities. They might be small in stature but important to the global economy. Concerningly, SMEs do not have resources or dedicated cybersecurity team to protect themselves against big cyber attacks, data breaches, and hackers.

Cybersecurity is an increasing issue amongst SMEs. It is not the only external threat; more often, a cyber breach might occur due to an employee mistake and it will give hackers a gateway in. What motivates hackers to target these little companies more than big companies?

  • Small = less prepared: Many small businesses are under this assumption that cyber breaches happen only to the big guys. This misunderstanding eventually can come back and bite them harder than they ever expected. The idea that small businesses do not get attacked is false. Cyber breaches data proves otherwise. This very mentality is what blocks these growing businesses from being prepared for cyber attacks. Hackers have already noticed this vulnerability among SMEs and have made them their prime target. Because SMEs don’t believe cyber attacks can be directed to them, they fail to recognize when one is coming.

  • Infrastructure is all messed up: There are a million reasons why small businesses do not have a good and stable infrastructure in place. There are many reasons why, varying from ignorance that cyber threats will not affect their company to the lack of financial resources… The fact of the matter is small businesses do not have the right protection in place. Hackers see this as an opportunity. Why go after business with heavy security in place when there are companies that have their cyber-doors and windows wide open?

So, what steps moving forward could these small businesses do to improve their cybersecurity? It is no mystery now that hackers look at small businesses more than any other, they can go in and do irreversible damage before anyone knows. Recognizing that cybersecurity is an issue that needs to be at the forefront. There is plenty of ways to reduce attacks on small business, here are a few.

Insurance

Cyber insurance should be part of SMEs incident response plan to ensure reimbursement of any financial loss related to the cyber breach. You can take a policy for cyber attacks and safeguard your business funds. This is not an end-all solution, more of extra protection to ensure your business continuity if any cyber breach happens.

Education

The best way to protect yourself is to better understand what you are protecting yourself from. There are many products and resources, even free online courses. This way, small businesses can get better knowledge about the threat landscape. Research is the most underutilized tool. Moreover, make sure you educate yourself and your team on basic cyber hygiene.

Invest

Obviously, the best way is to beef up cybersecurity measures is by making an investment into a stronger defense. The easiest and most fundamental way is outsourcing security to a company that runs checks every once a while. Make sure you consult with CyberSponse and have all your cybersecurity operations organize in one place. All your tools and alerts will be in one place and have playbooks that would be created to make everything easier next time the same alert pops up. CyberSponse helps with companies of any size, unlike our competitors!

CyberSponse Inc., a global leader in cybersecurity automation and orchestration, helps accelerate an organization’s processes, security operations teams and incident responders. The CyberSponse also platform enables organizations to seamlessly integrate, automate and playbook their security tool stack, enabling better, faster and more effective security operations. Moreover, ith a global presence, offering an enterprise platform, CyberSponse enables organizations to secure their security operations teams and environments. For more information, visit our homepage.

For more on Incident Response and how to use playbooks in your organization please check out our other website: incidentresponse.com.