We posted Scary Statistics for Small Business Owners earlier this year on how in 2010 hackers had been concentrating more and more on small businesses and we commented on how 2011 might be for hacking attacks. Well, 2011 was a big year for hackers with high profile attacks on Sony and RSA. There was even a successful hack on a security and risk management advising firm, Stratfor. Talk about an embarrassment and imagine what it did to the confidence of their clients when the hackers started publishing the names and other information on their clients.
There can also be a big expense associated with a security breach, some estimates as high as $190,000 according to 5 reasons cybersecurity matters to small businesses which gives these reasons why small businesses should invest in beefing up their security.
- Small companies are more likely to be attacked than bigger ones.
- Breaches are potentially business-ending events.
- Can you be sure you are properly controlling the access of your employees and business partners?
- Attacks could ruin your company’s reputation.
- Your company could be putting its best customers at risk.
These are all very important reasons to address this issue, but the $190,000 average cost per breach really got my attention, after all could your company survive losing that amount of money? In this instance an old saying from Ben Franklin is certainly appropriate, an ounce of prevention is worth a pound of cure.