Cyberattacks can be particularly devastating for small businesses. They simply don’t have the resources that larger companies do to help them recover from an attack. Unfortunately, many small companies aren’t doing enough to protect themselves, The Wall Street Journal reports.
Companies with less than $10 million in annual revenue are less likely than their larger counterparts to be prepared to deal with all kinds of cyberattacks—ransomware, malware, denial of service, credential theft, attacks on third parties and the supply chain, and more—according to the self-assessments of cybersecurity leaders at enterprises of various sizes surveyed by WSJ Pro Research. Smaller businesses also are less likely to have cyber insurance that could help cushion the blow of an attack.
Some smaller companies might take some comfort from the fact that only about quarter of those surveyed said they had been the victim of a cyberattack in the previous 12 months, compared with about half of companies with more than $1 billion in revenue. And cybersecurity experts say small businesses generally may be a less attractive target to cybercriminals because there just isn’t as much to steal from them as there is from big companies. But the experts also say that the level of self-reported cyberattacks comes with a big caveat: Many small businesses simply don’t know that they’ve been the victim of a cyberattack, because they don’t have the tools to identify one. Read the full story.