Three Reasons Why Small Businesses are Attractive Targets for Cyberattacks

In recent years, it has become a common theme to hear about the massive data breaches that large corporations are experiencing, but we don’t often hear about the data breaches that are affecting small businesses. Since 2011, the amount of attacks against small businesses have increased by two hundred and fifty percent. Now, of all cyberattacks against businesses, small businesses account for over fifty percent of them. Here’s why hackers are targeting small businesses for their data.

Small businesses usually harbor sensitive data on their computers, and if business owners were not able to access that data, the business would surely suffer. A common practice of hackers is to use ransomware against small businesses. The reason why this is so effective for hackers is because small business owners are likely to pay the ransom to regain access to their data that they are keeping about their customers. Unfortunately, if small business owners are put in this position, they are likely to let fear run their decision making. Some business owners will see the cost of paying to regain access to their data as less expensive in the immediate future than might be an alternative route.

Another reason why hackers are targeting small businesses for their data is because, unlike their large corporate counterparts, small businesses usually lack in having robust cyber defense. Although most small business owners realize that investing in more advanced cybersecurity will help deter most hackers, what they don’t realize is that it is impossible to completely secure your data. If a huge corporation that spends a significant amount of money on the best cybersecurity available can still get hacked, like Equifax did, what about a small business?

The most common misconception that business owners believe is that small businesses don’t harbor data that is as valuable data as what a large corporation holds… FALSE! Small businesses collect similar data on their customers as do large corporations. The difference is that a small business is easier to hack into than most larger corporations. With the same information collected and an easier way to get in, it’s clear to see why these criminals are starting to target small businesses more often than they do large corporations.

Though there is no way to fully prevent a data breach, there are ways to make your business a smaller target. The first step is awareness and education. Make sure your employees know about how their daily habits might be putting your business at risk for a data breach. Here is an article on risky business habits can put your business at risk for a data breach.

LibertyID is the leader in identity theft restoration having restored the identities of tens of thousands of individuals without fail. If you retain personal information on your customers, now it is time to get data breach planning and a response program in place with our LibertyID for Small Business data breach defense program. With LibertyID Enterprise you can now add value to existing products, services, or relationships by covering your customers, employees, or members—at a fraction of our retail price—with no enrollment and no file sharing. We have no direct communication with your group members–until they need us.

Call us now for a no obligation proposal at 844-411-LIBERTY (844-411-5423).