Do small businesses really need cybersecurity?
43% of cyberattacks target small businesses. Learn why SMBs are prime targets and the minimum security every business needs.
Let’s address this directly: Yes, absolutely. And probably more than you think.
The idea that cybercriminals only target big companies is one of the most dangerous myths in business today.
The Numbers Don’t Lie
43% of cyberattacks target small businesses.
But here’s the more alarming statistic: Only 14% of small businesses are prepared to defend themselves.
That gap is exactly why hackers love small businesses.
Why SMBs Are Prime Targets
1. Easier targets Large enterprises have security teams, budgets, and sophisticated defenses. Small businesses often have… nothing. Hackers go where the defenses are weakest.
2. Still valuable data Small businesses have:
- Customer credit card numbers
- Employee Social Security numbers
- Bank account information
- Health records (if in healthcare)
- Business intellectual property
That data sells on the dark web regardless of company size.
3. Gateway to bigger targets Many small businesses are vendors to larger companies. Hackers breach the small business to get access to the bigger fish. The Target breach that exposed 40 million credit cards? It started with an HVAC vendor.
4. More likely to pay ransoms Small businesses often lack proper backups. When ransomware hits, they’re more likely to pay because they can’t recover otherwise.
The Real Cost of a Breach
Let’s talk money:
| Cost Category | Average for SMBs |
|---|---|
| Incident response | $15,000 - $50,000 |
| Data recovery | $10,000 - $30,000 |
| Legal & regulatory | $10,000 - $100,000+ |
| Customer notification | $5,000 - $20,000 |
| Lost business | Varies wildly |
| Reputation damage | Incalculable |
Average total cost for SMBs: $120,000 - $200,000
For many small businesses, a breach is an extinction-level event. 60% of small businesses close within 6 months of a cyberattack.
”But We Don’t Have Anything Hackers Want”
We hear this constantly. Here’s why it’s wrong:
You have money. Business email compromise (BEC) tricks employees into wiring money to criminals. Average loss: $125,000.
You have access. Your email, your network, your vendor relationships - all valuable to attackers.
You have systems. Even if your data isn’t valuable, your computers can be used for cryptomining, launching attacks on others, or hosting illegal content.
You have a business. Ransomware doesn’t care what you do. It just encrypts everything and demands payment.
Minimum Security Every Business Needs
You don’t need enterprise-level security. But you need the basics done right.
Tier 1: The Non-Negotiables
Multi-Factor Authentication (MFA)
- On email (especially Microsoft 365 or Google Workspace)
- On banking
- On any system accessible from the internet
- Cost: Free to minimal
Business-Grade Endpoint Protection
- Not free antivirus - real endpoint detection and response (EDR)
- Managed by someone who monitors alerts
- Cost: $5-15/user/month
Regular Backups
- Following the 3-2-1 rule (3 copies, 2 media types, 1 offsite)
- Tested regularly
- Cost: Varies, but $500-2000/month typical
Employee Training
- Phishing awareness
- Password hygiene
- Reporting suspicious activity
- Cost: $10-30/user/year
Tier 2: Growing Businesses (25+ employees)
Everything above, plus:
Email Security
- Advanced spam/phishing filtering
- Link and attachment scanning
- Cost: $3-8/user/month
Firewall Management
- Properly configured business firewall
- Regular updates and monitoring
- Cost: $100-500/month depending on setup
Password Manager
- Business password management solution
- Enforced for all employees
- Cost: $4-8/user/month
Tier 3: Regulated Industries or Higher Risk
Everything above, plus:
Security Monitoring (SIEM/SOC)
- 24/7 monitoring of logs and alerts
- Professional response to threats
- Cost: $15-50/user/month
Vulnerability Management
- Regular scanning for weaknesses
- Penetration testing annually
- Cost: $500-5000/year
Security Policies and Compliance
- Written policies
- Compliance framework alignment
- Cost: Varies by requirement
ROI of Cybersecurity
Think of it this way:
Without security:
- Highly likely to be breached eventually
- Average breach cost: $120,000+
- Potential business failure
With basic security ($100/user/month for a 25-person company = $30,000/year):
- Dramatically reduced risk
- Faster recovery if something happens
- Customer/partner trust
- Often required for contracts and cyber insurance
The math: $30,000/year in prevention vs. $120,000+ breach cost (and possibly losing your business).
Common Objections
“We’re too small to be a target.” No such thing. Automated attacks don’t care about your size.
“We don’t have budget for this.” Can you afford $120,000 when you get breached? Start with the basics - MFA is free.
“Our IT guy handles security.” What specific security tools and processes are in place? If the answer is vague, you’re not protected.
“We have cyber insurance.” Good - but insurance doesn’t prevent breaches, and many policies don’t cover negligence (lack of basic security). Also, business interruption during recovery isn’t fully covered.
“Nothing has happened yet.” This is survivorship bias. The average time to detect a breach is 287 days. You may already be compromised.
Getting Started
If you’re starting from zero, here’s your 90-day plan:
Days 1-30: The Basics
- Enable MFA on all email accounts
- Audit your current backup situation
- Deploy business-grade endpoint protection
Days 31-60: Employee Factor
- Implement a password manager
- Conduct basic security awareness training
- Create an incident response contact list
Days 61-90: Formalize
- Review and secure your firewall
- Document your security policies
- Get a security assessment
The Bottom Line
Cybersecurity for small businesses isn’t about building Fort Knox. It’s about not being the easiest target on the block.
Criminals look for the path of least resistance. If your business has MFA, good backups, trained employees, and endpoint protection, attackers will move on to easier prey.
The question isn’t whether you can afford cybersecurity. It’s whether you can afford the alternative.
Not sure where your security stands? We offer free security assessments - no obligation, just an honest look at your risk. Request an assessment.
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