The good news is businesses are effectively using the internet to conduct commerce. The bad news is bad actors are using the internet to commit crimes against businesses.
You don’t have to be a large corporation in America to be vulnerable to cybersecurity attacks. In 2020 alone, there were over 700 thousand attacks against small businesses, with damages totaling 2.8 billion dollars and the numbers continue to rise every year. Fortunately, there are ways that you can strengthen your business against a cyberattack to minimize financial losses and reduce risks for employees.
Ransomware is a specific type of malware that infects and restricts access to a computer until a ransom is paid. Ransomware is usually delivered through phishing emails and it exploits unpatched vulnerabilities in software. SBA and its resource partners offer events tailored to help you consider how a cyberattack might impact your operations and determine how you can prepare before an attack is made.
How Small Businesses Can Prevent and Prepare for a Cybersecurity Attack
Here are some steps small businesses can take to prepare for ransomware attacks:
- Train your employees. Employees and emails are a leading cause of data breaches for small businesses because they are a direct path into your systems. Training employees on basic internet best practices can go a long way in preventing cyber-attacks. The Department of Homeland Security’s Cyber Security and Infrastructure Security Agency (CISA) Stop Ransomeware website and "Stop.Think.Connect" campaign provides small business owners free training to help employees prevent attacks.
- Putting a system in place to back up critical business data. Your data should be backed up regularly and should be accessible off-site, making cloud data solutions ideal options and unplugging backup drives from the internet.
- Use antivirus software and keep it updated automatically. Make sure each of your business’s computers is equipped with antivirus software and antispyware and updated regularly. Such software is readily available online from a variety of vendors. All software vendors regularly provide patches and updates to their products to correct security problems and improve functionality. Configure all software to install updates automatically.
- Secure your networks. Safeguard your Internet connection by using a firewall and encrypting information. If you have a Wi-Fi network, make sure it is secure and hidden. To hide your Wi-Fi network, set up your wireless access point or router so it does not broadcast the network name, known as the Service Set Identifier (SSID). Password-protect access to the router.
Cyber-attacks on small businesses are on the rise and so are the costs to recover after a cyber-attack. Identifying and managing threats to your business data will prevent you from becoming the next easy target.
Understanding the Threat
Small businesses are attractive targets because they have information that cybercriminals want, and they typically lack the security infrastructure of larger businesses.
According to an SBA survey, 88% of small business owners felt their business was vulnerable to a cyber-attack. Yet many businesses can’t afford professional IT solutions, have limited time to devote to cybersecurity, or don’t know where to begin.
Start by learning about common cyber threats, understanding where your business is vulnerable, and taking steps to improve your cybersecurity.
The SBA is committed to helping your small business overcome any obstacle. We are here to help you prepare your business for cybersecurity attacks and other disasters. Our partners such as Small Business Development Centers, SCORE, Women’s Business Centers, and Veteran Business Opportunity Centers are also available to help your business with coaching, workshops, and referrals. See SBA’s online learning for free education by visiting SBA.gov/learning.
SBA is also proud to continue our work with public sector partners to keep small businesses informed, prepared, and aided in their efforts to stay safe. We encourage our state government officials to keep an eye out for our upcoming Cybersecurity for Small Business Pilot Program funding opportunity on Grants.gov.
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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
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