Small businesses have a tough row to hoe when it comes to cybersecurity. The men and women brave enough to lead one of the 30M small businesses across the US certainly have a lot on their plate. In addition to finances, products/services, customers, and payroll they must now focus some of their limited attention on cybersecurity. With nearly half of all cyberattacks focused on small businesses, this critical risk isn’t going away.

All companies are struggling to handle this growing and evolving business risk. However, smaller companies have a unique set of issues that may hinder their success.

Small business leadership may not be as sophisticated in cyber security. As they grow, small businesses gain the skillset (either in house or outsourced) around key business functions such as finance or HR. However this particular expertise is lacking in many small businesses.
Small businesses lack the resources to execute. This can come in the form of dollars or bodies.

With these unique challenges, small businesses are failing to put adequate controls in place to protect their business. This stems from a few key deficiencies.

Small businesses are not taking a risk based approach to cybersecurity. This mindset is critical as it forces companies to consider what are the top issues.
Small businesses are unaware of the threats and risk that can threaten their businesses. Similarly, they are unaware of many of the protections and risk mitigation strategies that can be deployed.
Small businesses are letting their IT provider (inhouse or outsourced) drive strategy.
These businesses have not gotten out of the mindset that technology = security; leaving companies with a false sense of security.

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The Federal Trade Commission and Small Business Administration have collaborated to publish guidance (https://www.ftc.gov/tips-advice/business-center/small-businesses/cybersecurity) for these companies. This guidance is a great place to start for business leadership worried about cyber issues but aren’t sure where to begin.

North Wonders has produced a self-guided security assessment tool based on the SBA guidance referenced above. This tool allows (https://www.northwonders.com/offering/#self-guided) small businesses to quickly see their cyber hot spots and get actionable guidance on correcting any issues. For more information please contact us at Info@NorthWonders.com.