Many Small Businesses Do Not Prioritize Cybersecurity Even after Cyber Attacks — Survey

by Dan Goodin

18 Jul 2022

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A survey conducted in May 2022 by Direct Line demonstrates that 74% of small businesses do not prioritize cybersecurity or do not contribute to it. Only 26% of the registered small businesses worry about the detriments of digital vulnerability in the first place.

Survey Stats and Range

The company interviewed 2,000 UK adults who work in companies and published the result on the 13th of July. One hundred seventy-five of the respondents focus on decision-making in their small company. The survey says that almost half of respondents experienced cyber attacks — 49%. And that happened because:

Exterior system plugging that led to downloading malicious files — 15%
Email clicking and downloading viruses — 14%
A worker publicized confidential information — 13%
There was no cybersecurity system at all — 13%
There were weak passwords — 10%
There was a lack of patches and software updates — 8%
And other causes.

Nevertheless, the survey also shows that:

17% of small businesses saw other priorities, neglecting or delaying cybersecurity issues solving;
15% of respondents said their cybersecurity knowledge has gaps and is not good;
Only 16% of specialists said they have excellent knowledge of the topic;
And only 26% of entrepreneurs see cybersecurity as the first and foremost concern.

The Potential Detriments

Data stealers who manage to acquire sensitive information may access all other systems. That might lead to small issues like account stealing without big consequences. Nevertheless, cybercriminals focus on bank accounts and other vital systems. A company that does not create a digital bulwark against crackers and hackers risks its business and customers. That might lead to business closure due to distrust and bankruptcy.

Moreover, the digital plane suffers from arisen cyberattacks. While criminal cybergroups intensify their DDoS attacks, that does not cancel a smaller percentage of data stealers who focus on hacking small business systems to gather sensitive information.

Solutions

There are many instances of big companies using AI to prevent cyberattacks and fraud or mitigate the consequences. Of course, small businesses might not have the resources to implement advanced systems. Nevertheless, vital basics may help small enterprises protect their brand and customers. The necessities are:

Constant software updates (anti-malware programs first and foremost!);
Extra security layers for devices that have to connect to external systems;
Using private proxies;
Using only long passwords that have many different symbols;
Using two-step verifications on top of strong passwords;
And other means to protect your information.