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Woburn, MA – September 26, 2013 – /BackupReview.info/ — There’s nothing small about “small” business. Within the global economy, small-to-medium sized businesses (SMBs) collectively generate trillions of dollars and employ millions of workers. SMBs are typically categorized as businesses with fewer than 500 employees, but what about the smallest of all businesses?According to IDC estimates, there are approximately 80 million businesses worldwide that operate with fewer than 10 employees. These “very small businesses” are often operated in homes, and the business’s “founder and president” is usually the same person who orders paper for the printer. And yet these organizations will process millions, if not billions, of dollars in 2013.
Another reality of these 80 million very small businesses (VSBs) is that the vast majority don’t have employees or resources dedicated to building their IT networks. In many cases, the same employee responsible for ordering printer paper is also responsible for maintaining the computers and networks that keep VSBs connected to their customers.
Despite their smaller size, VSBs have some key needs in common with their larger business counterparts, in particular the need to protect important data – such as customer data and their own financial information – while banking online and processing customer orders. They share an unfortunate similarity as well – they can easily become victims of cybercrime.
Too Small to Be Noticed?
• My small business is safe from cybercriminals because they won’t waste their time targeting me
• My small business doesn’t have anything worth stealing
There is plenty of evidence to contradict the first point. For instance, in Verizon’s 2013 Data Breach Investigations Report, which includes data from worldwide forensic investigations, found that of the 621 data breaches analyzed, 193 breaches – more than 30 percent – occurred at companies with 100 or fewer employees. The second point is equally untrue, since whenever a business makes a sale online, they almost always access some form of private customer data, such as their name, address, and credit card number. This basic information certainly has value to cybercriminals, and the financial information of the small business itself has value as well.
In fact, some cybercriminals prefer targeting very small businesses instead of larger businesses, since they believe many VSBs aren’t fully protected and are thus an easy target for a quick pay-day. Like all predators, cybercriminals set their sights on the weakest targets and with a lack of budget, and low levels of staff sophistication in an area such as security, VSBs are making an easy target. Cybercriminals also assume there is a lower chance of actually being caught.
What Are the Consequences?
So what should VSBs do to protect themselves? Here are 3 quick tips:
1) Understand that no company is “too small to be noticed” by the bad guys – even small companies have intellectual property, bank accounts, and in most cases, customer data.
2) Keep it Simple – Small businesses should select SMB-specific software or select vendors that are well-known for providing intuitive, comprehensive security software in order to avoid the trap of paying too much for something they will struggle to use.
3) Key Areas for Investment – Look into Encryption technologies after you’ve invested in basic anti-virus. Data encryption is vital for any company that processes and stores the payment information of customers, and is often required by law. If encrypted data is stolen or lost, there is a good chance the criminals will never be able to harvest the stolen data, leaving your customers protected.
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*Gartner, Magic Quadrant for Endpoint Protection Platforms, Peter Firstbrook, John Girard, Neil MacDonald, January 2, 2013.
* *The company was rated fourth in the IDC rating Worldwide Endpoint Security Revenue by Vendor, 2011. The rating was published in the IDC report “Worldwide Endpoint Security 2012–2016 Forecast and 2011 Vendor Shares (IDC #235930, July 2012). The report ranked software vendors according to earnings from sales of endpoint security solutions in 2011.
 Verizon Communications Inc.’s forensic analysis unit
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