A new survey from the National Small Business Association revealed 44 percent of small businesses have been victims of cyberattacks. Some of the culprits include computer viruses, malware, spyware, and banking trojans.
Nearly 60 percent of affected businesses responded that they’d incurred a service interruption. Thirty-five percent reported having information falsely sent from their domain or email address; 19 percent had their websites shut down and 5 percent had sensitive information and data stolen. A cyberattack can result in huge costs for a small business, with the average cost of an attack being $8,699.48.
The survey revealed that small businesses are utilizing new technology with greater frequency, and increasingly managing such technology internally. The number of business owners who personally maintain their websites has tripled since 2010, from 9 percent to 27 percent.
Fox Business reports that limited resources are a factor in making a company vulnerable to cyber-attacks. As Molly Brogan, director of communications of NSBA, explained to the sources, “small businesses may not be as tech-savvy [as larger companies], or they don’t have the staff to provide for a full-time IT person.”
For many small businesses, the prospect of hiring an IT staff to manage network security is too expensive. The survey revealed that only 21 percent of small businesses hired an outside company to handle online security. Thirty-nine percent of small business owners handled security themselves.
Updating IT equipment with proper training and effective knowledge may help small business owners protect themselves without outside assistance. National Funding offers equipment financing and leasing which makes products such as IT equipment affordable to small businesses.
Cost of IT upgrades was reportedly the biggest concern small businesses faced regarding their use of technology. National Funding’s merchant cash advance is a solution that helps small businesses stay secure from cyber attacks.