4 Common Cybersecurity Threats to Small Businesses

Dec 17, 2021 2 min read

Infographic: 4 Cybersecurity Risks to Small Businesses 

The internet can be a dangerous place, especially for small businesses. While big companies may have the resources to combat digital risks and may even have an in-house cybersecurity staff, small businesses are attractive targets for cyberattacks because they often lack critical security infrastructure.

Protecting your business starts with education. When developing a plan, make sure you and your employees know the current cybersecurity issues facing small businesses because the key to your cybersecurity solution is getting protected before a data breach puts your business in jeopardy. Cybersecurity insurance protects against losses caused by a data breach and can also cover lost profits caused by business disruptions. It can even cover legal and investigation costs. Make sure you are covered, and make sure you and your employees take these cybersecurity threats seriously.  

  1. Risk: Uneducated or Careless Employees

    As a small business owner, it’s on you to educate employees about how to protect your business from online threats, such as password hacking. Train your employees to secure social media accounts, follow proper protocol for handling corporate information, use devices only on secured networks and refrain from installing unapproved software or apps on company devices. If you need guidance, the Federal Communications Commission (FCC) outlines best practices for employee IT security training.

  2. Risk: Viruses, Malware and Scams Lurking in Emails

    Cybersecurity issues come in many forms, from phony malware to Trojan Horses. If undetected, they can do serious damage to your business. The Small Business Administration (SBA) urges caution when clicking links or downloading email attachments. Phishing attempts often come from email addresses you’re familiar with, but with slight variations in the name. Whenever you or your employees are suspicious, err on the side of caution and do not open dubious emails.

  3. Risk: Unprotected Customer Information

    Whether you’re a brick-and-mortar shop or ecommerce biz, keeping your customers’ information secure should be a priority. The FCC recommends asking yourself what customer information is necessary to store. Whatever info you keep, you must protect. Decide who has access to payment systems and isolate those systems. To do so, you can take steps like cutting off web browsing at point-of-sale terminals. Additionally, the SBA encourages working with banks and card processors to keep your anti-fraud tools current.

  4. Risk: Failing to Back Up Your Data

    Regularly backing up data is a best practice, especially for businesses with high cybersecurity risks. In the event of a data breach or malware attack, having a secure data reserve could protect your company. Use a cloud service or offsite location to store regular backups of accounts receivable/payable, HR and financial files. According to the FCC, small businesses should also plan for a data breach for the purpose of understanding just how seriously a cyberattack could harm the company.

Is Your Business Protected from Cybersecurity Threats?

Talk to your Farm Bureau agent about data breach coverage. Farm Bureau commercial business insurance provides reimbursement for investigating the breach, helps you notify affected customers and includes restoration services and liability protection. 

Want to learn more?

Contact a local FBFS agent or advisor for answers personalized to you.