Intro
In the world of startups, there's a persistent myth among small and mid-sized enterprises:
"We're not a big enough target."
And while it's tempting to focus on closing yet another funding round or launching the next exciting feature, this mentality is fundamentally damaging. It often means insufficient security measures, or none at all. Hackers are well-aware of this and exploiting it extensively. Although massive breaches at Fortune 500 giants grab the headlines, smaller firms have become the quiet favorites of cybercriminals across the globe, and for a multitude of reasons.
In this post we’re gonna dig into those reasons, learn about impacts, and quickly touch on solutions.
Adversaries go for the “easy ones” first
1. Struggling to make ends meet
And it just makes perfect sense. Corporate giants have the funds and resources to robustly protect themselves. Small businesses frequently skip cybersecurity, turning themselves into prime hacker targets with outdated defenses simply because of lack of resources. They patch problems sporadically instead of investing in continuous, robust solutions. This lack of strategic security planning leaves them exposed, with vulnerable software, flimsy passwords, and unpatched systems, all looking like a warn invitation for the attackers.
2. Lagging behind with technology
Numerous teams lack at least basic monitoring tools or intrusion detection mechanisms, allowing cyber threats to remain undetected for extended periods. This situation gives attackers opportunity to siphon off sensitive information or maintain their foothold in systems. In today's digital landscape, granting hackers access for a few minutes can be all it takes.
3. Being prioritized because of Supply chain attacks
This is a big one. Small businesses often serve as vendors, suppliers, or service providers to much larger organizations that do have something to lose. Hackers leveraging automation and ransomware to hit multiple SMBs simultaneously to find their way to their larger partners — a strategy that is devastating in attacks like the Accellion or SolarWind.
4. Easy to "Ransom" with
SMBs more likely to pay ransoms when hit with ransomware due to lack of adequate firewalls, EDR, and weak systems . With limited backup infrastructure, and greater sensitivity to downtime, these companies often calculate that paying is less costly than extended recovery efforts.
The practical aspect
The consequences of cyberattacks on small businesses go far beyond what would think. According to multiple Ponemom studies we see a clear trend:
60% of small businesses close within six months of a significant cyber attack
The average cost of a data breach for businesses with <500 employees is $2.98 million
Around 20-30% of attacks are part of hackers’ bigger strategy going after enterprises that have relashionship with a small company vendor.
Now's the best time to get secured, even if you're Series A
Modern cyberwarfare is worse than you think
We're in the time where industries are intricately connected, and cyber warfare has become a regular aspect of life. Govts. frequently seek to extend their influence via teams of hackers. It's no longer the solo hacker in a tiny airbnb, hunched over Python scripts to make a quick buck. Instead, it's about extensive organizations — coordinated adversary teams with dedicated funding, strategic plans, and an impressive level of technical expertise.
Compliance matters, but it shouldn't be the only motivation
Each year, regulations like GDPR, CCPA, and industry-specific requirements continue to grow. These rules don't exempt small businesses. Non-compliance penalties can be devastating, and regulators are increasingly holding businesses of all sizes accountable for data protection failures. Unfortunately, SMBs often treat these requirements as mere checkboxes.
Prepared businesses look super attractive and go a long way
With rising awareness, products developed with cybersecurity in mind stand out in the market. More than ever, customers and partners require proof of security protocols before engaging in business.
Finding the perfect-fit security is everything
The promising news is that effective cybersecurity solutions are accessible without needing huge corporate budgets. Small businesses can find alternatives to hiring pentesting teams for $20-$40K manual pentests and risking going bankrupt.
Instead, they can substantially bolster their security posture using automated vulnerability platforms like Deepengine, and investing more into team's education and awareness:
Regular security awareness training for all employees
Implementation of multi-factor authentication
Covering the basics like rotating keys, safe storing passwords, setting up firewalls
Consistent software updating and patch management
Monitoring domain and analyzing logs with AI
Planning for emergency with data backup and recovery
Joining communities to find efficient security solutions for small business needs and constraints
Conclusion
In recent years, the cybersecurity field has undergone significant shifts. Hackers now see small businesses as lucrative yet easy marks, escalating their efforts accordingly. The concern isn’t about whether a cyberattack will hit your small business, but when it will happen and how ready you'll be to handle it. By identifying the particular weaknesses that appeal to cybercriminals, and by enforcing the right security protocols, you can safeguard not only your data but also secure your business's longevity and the interests of your 3rd parties and customers.
Tight on budget but want to build a resilient business?
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