Too Small to Hack?
We can’t even tell you how many companies we talk with that say one of two things: (1) We’re so small, no one wants to hack us.” (2) “We’re so small, we can’t afford cybersecurity protection.” Given the line of work we’re in, it’s hard to argue with people who say those kinds of things because they think we’re just trying to make a sale. Well, yeah. We would like to make a sale. But we’d also like to make sure your company, your people, your networks, and your data are safe.
Consider this: The website for Security magazine recently published a blog post called, “Why small businesses are vulnerable to cyberattacks“.
In many cases, small businesses do not take cybersecurity seriously. Many businesses feel “too small” to be affected by a cyber incident. If an incident does occur, many do not realize the severity of a breach until it is too late … 47% of businesses with fewer than 50 employees do not have a dedicated cybersecurity budget. And only 18% of companies with more than 250 employees have a dedicated cybersecurity budget … the average cost of a data breach increased 10% in 2021 to $4.24 million.
Let’s Do the Math
It’s entirely possible you don’t think your business is big enough or important enough to be the target of a cyber attack. But given the average cost of a data breach, let’s consider two scenarios:
- Your company is small enough that you don’t have $4.24 million in assets. But you suffer a ransomware attack, and the ransom amount is $5 million. Even if it were only $3 million — or $2 million — you’d likely be put out of business.
- You buy cybersecurity coverage that includes end-point protection, multi-factor authentication, and email filtering. Let’s say that coverage costs $20 per seat, per month, and the ransomware attack fails.
If you have 50 employees, that’s $12,000 a year to stay in business. If you have 250 employees, that’s $60,000 a year to stay in business. It doesn’t take a mathematician, an accountant, or an economist to figure out that’s a lot less than any ransomware artist worth his salt would cost.
Cybersecurity is not an expense. It’s an investment — in your business and in your future.
Don’t take a chance. You’re not too small to hack.