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Small Business, Big Target; Cybercrime Affects Us All

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In today’s world, small businesses have become a huge target for cybercrime. Over the last few years, large corporations have taken the IT Industry’s warnings seriously enough to start investing in their own IT Security and Compliance measures. With large businesses tightening the ropes on IT security, cybercriminals have changed focus and started targeting smaller businesses. IT Security will remain at the forefront of the industry, but the trends within the security sector continue to evolve. In 2023, it’s time for your organization to start taking IT Security concerns seriously and start investing in your business’ wellbeing.

Cybercrime Is Always on the Rise

Cybercrime increases dramatically each year. According to CNBC, from 2020 to 2021, there was a 64% increase in potential loss from cyberattacks, and about a 7% increase in complaints about cyberattacks from the American public. Every statistic out there showcases an increase in cybercrime activity, and up until now, most small businesses have been in the mindset that these incidents could never affect them. Unfortunately, the majority of victims of cybercrime attacks have been small business, according to FBI Supervisory Special Agent Michael Sohn at CNBC’s Small Business Playbook virtual event. With large corporations continuing to invest in their IT Security, the next few years could prove to be detrimental to the small business channel.

Small Business, Large Impact 

Small business owners seem to not be concerned about potential cyberattacks. CNBC and SurveyMonkey data showed some alarming statistics; 61% of small business owners said they were not concerned that their business could be the victim of a cyberattack within the next year and 64% of small business owners believe that they could “quickly” resolve a cyberattack. Those answers came from a quarterly survey done by CNBC and Survey Monkey in Q4 of 2022. A quick Google search will tell you otherwise – on average, you can get your IT system back online so the company can transact business within one to two weeks. However, that is with the consideration that your business already has IT Security measures in place, and that you’re working with an experienced IT Team. If your business is starting from ground zero, you could easily double or triple the time that your organization is down.

Stay Diligent and be Prepared

The most important thing for small businesses to do is to stay diligent and get in front of these threats by prioritizing IT Security and Compliance in 2023. Everything about the way we do business is evolving, and it’s time for your business to evolve with the times as well. The internet can be a great thing for your organization – it can be responsible for your company’s biggest wins, it can allow you to connect with other businesses and it can even help drive your success, but it can also be your biggest downfall. If you don’t protect your organization from online threats, it could lead to devastating results. 

The world of IT Security and Compliance can feel overwhelming, especially if it hasn’t been a priority for your organization. Sitting down with an MSP/MSSP can be a great first step – coming up with an IT budget and plan that fits your business’ priorities and needs can be the start of a great partnership. Prioritizing IT Security and Compliance in 2023 means prioritizing your business’ wellbeing, and it means prioritizing your livelihood. IT Security will remain at the forefront of the industry and it’s time for your organization, no matter the size, to evolve with the times. Call Pioneer-360 today, so that we can help you plan your 2023 IT budget and put you one step ahead of the cyberthreats your organization faces on a daily basis.


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