As we approach Small Business Saturday, it’s a good time of year for small and mid-sized businesses to refresh their thinking around data security and incident response planning. In the same way that we are taught to change the batteries in our smoke detectors twice a year at Daylight Saving Time, Small Business Saturday should trigger an instinctive “cyber refresh” for SMBs everywhere.
If the idea of an annual review isn’t exactly motivating, think on this. According to the 2018 Verizon DBIR, 58% of malware attack victims were categorized as small businesses. Further, the Poneman 2017 State of Cybersecurity in Small and Medium-Sized Businesses reported that cyberattacks cost small and medium-sized businesses an average of $2,235,000. When you’re small, the cost of a cyber event – both in real dollars and in broken trust with your customers – can be devastating.