More than 50% of small and midsized businesses (SMBs) experienced a data breach between July 2015 and July 2016.

Small businesses have increasingly become targets for cyber attacks. They hold valuable digital assets, yet often lack sufficient security, making them vulnerable to threats.

This post outlines several types of cyber threats and how small businesses can properly safeguard their digital assets.

Cyber Threats

With the proliferation of IoT devices in the workplace, cyber attackers have exploited vulnerabilities in business security systems. Small businesses have faced a growing number of cyber threats:

  • Distributed Denial-of Service (DDoS) Attacks. Overloads the network with high volumes of data or traffic until it is no longer functional.
  • Malware. Steals or destroys data when introduced to the system through email or software downloads. 
  • Password Attacks. Attempts to crack a user’s password to gain system access.
  • Phishing. Tricks users through a trusted third party into sharing sensitive data.
  • Ransomware. Completely locks users out of the system.

Safety Precautions

The average data breach costs an SMB $36,000, making it nearly impossible for most businesses to recover.

SMBs must keep cyber security top of mind to avoid being compromised in a cyber attack. Assess your business’ vulnerabilities, and take the following precautions:

Install the appropriate security equipment, and make safety a top priority for your small business. Contact a reliable security vendor to ensure your business is properly protected.