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When you’re on a mission to make the world a better place, nothing can stop you. Except for a cyberattack that can cost you thousands of dollars, and shut down your system for hours, days, or even permanently. As a mission-driven organization, you’ve committed to the business of lightening your footprint while increasing your impact. And losing hard-won dollars earmarked for people and the planet means lowering your impact. It keeps you from walking your walk. In fact, a cyberattack can stop you in your tracks.
The communities and causes you champion solve critical problems in the world, and your company going down—even for a few hours—results in people not getting the support they deserve. As a small-to-medium-sized business doing good in the world, you’d be less susceptible to identity theft and ransomware attacks, wouldn’t you? Sadly, the answer is no. You’re far more vulnerable.
43% of cyber attacks target small businesses. But why?
Large companies are becoming better guarded against attacks. They have stronger IT infrastructure and technical support on-site, and cyber attackers know it. Small-to-medium-sized businesses (SMEs) are more vulnerable because they don’t have their defenses up, but they still have valuable information like personal identities and financial records. According to the FBI, cyber attackers even targeted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which included provisions to help small businesses during the pandemic. Now that just hurts.
25% of SMEs don’t have staff dedicated to IT security. 45% don’t have the budget.
Most small businesses are lean. Your employees are focused on carrying out your mission. They’re serving your customers, marketing your services, making your products, and managing other employees. New roles are carefully created, and most of the time they are developed to move the business forward. Unfortunately, many small companies are betting on staying safe from hacks and attacks, rather than building a safety net around their IT.
60% of SMEs go out of business after a cyberattack.
The average cost for coming back from a cyberattack is over $900,000, and that’s after any money that is stolen. Attacks can be deeply damaging to SMEs. But the cost isn’t all about the money. When a company’s security fails—and especially when identities are stolen—it destroys stakeholder and community trust. Faith in the company declines, and even its industry can suffer from news of a breach. Just as a rising tide floats all boats, a receding one can take them all out to sea. But—hey—you don’t have to play the victim. There’s plenty a B-Corp, a nonprofit or a small business can do to stay safe.
Turns out, your employees are your best first line of defense. Employees and emails are a leading cause of data breaches for SMEs because they are a direct path into your systems, according to the Small Business Administration.
Implement training on:
Certified B Corporations meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. The B Corp community works toward reduced inequality, lower levels of poverty, a healthier environment, stronger communities, and higher-paying jobs. You simply can’t be out of business. Outsourcing IT to a reputable service provider that is focused on keeping distributed work-forces safe from cyber threats could be your best investment. It keeps your onboarding and training costs low, while protecting your business around the clock. IT-as-a-service providers are set up to work with SMEs and can often create a customized plan designed for your needs and budget.
The (triple) bottom line is: Stay safe out there, would you? We need you to be in business.
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