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Cybersecurity Challenges for Small to Medium-Sized Businesses

by May 1, 2024SMB Technology, SMB Technology, SMB Technology, SMB Technology, Technology News

Cybersecurity, ever a topic for businesses of all sizes, poses special challenges for small to medium-size businesses. Not only can they be special targets for bad actors, but they also deal with tight budgets and at times a lack of understanding of what cybersecurity means. Read on to learn how a small business can meet cybersecurity challenges and build strong defenses.

 

A number of cybersecurity issues are challenging for smaller businesses, according to a CompTIA article. First, just getting started with a cybersecurity plan can seem like a huge task. And what does cybersecurity mean for your business? What mission-critical data and applications need protection? Once your company has decided on your goals, how will you reach them? 

 

Another issue is spending. Often, a small organization’s cybersecurity budget is tight, and the business cannot spend very much on an IT team, or the training to upskill current workers. How much will a third-party solution cost? These and other costs can seem daunting. 

 

Knowledge and understanding of the threat landscape is another challenge. Small or medium-size businesses might think that, being small, they are “under the radar” of cybercriminals. However, they are likely to be the victims of a cyberattack. According to the FBI, small businesses comprised the majority of victims in 2021. Even if the bad actors don’t specifically target a small company, they may use the small company to target larger businesses. Often, the criminals are looking to steal data – credit card and bank account information, customer data, even proprietary business information–from anyone they can. 

 

One of the challenges is complacency; small companies may think they don’t need to learn new skills. On the contrary, they need to adapt to an ever-changing threat landscape. Cyber attacks are becoming more frequent and more sophisticated, with  attackers banding together. Previously, hackers may have worked on their own, trying to execute brute force attacks or use bots to take down a website with a distributed denial of service (DDoS) attack.   

 

Cybersecurity Help for Small Businesses

 

So, what’s the solution? The good news is, though cybercriminals are banding together, small to medium-sized companies can do the same. Technology service providers  can help small businesses access threat intelligence and learn from organizations that have been attacked and have recovered. And with help from the Cybersecurity Infrastructure Security Agency (CISA) and its various resources, businesses can get information and start acting on that information to develop their cybersecurity plan. What’s more, a company might seek out third-party partners that can help supply the IT talent to improve their cybersecurity posture.

 

Cybersecurity, especially for smaller businesses, can seem like a huge challenge. However, help is out there. To learn more about developing a security plan, contact your trusted technology advisor today. 

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