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Safeguarding SMBs in North America: A Comprehensive Guide to Cybersecurity Preparedness

20th September, 2023

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In today's rapidly changing digital landscape, small businesses in every industry must be fully aware of the ever-present cybersecurity threats. Cybercriminals are continuously evolving their techniques, making it more critical than ever to establish a solid cybersecurity plan—especially with the surge in cyber threats due to the impact of COVID-19. The rise of remote work has exposed vulnerabilities in the infrastructure of many companies, making the need for a comprehensive security strategy even more pressing.

While it might seem logical to assume that cybercriminals would target larger corporations, the reality is quite different. In truth, nearly 70% of small businesses fall victim to cyber-attacks, underscoring the widespread risk. Without a well-structured cybersecurity plan, these businesses are left in a precarious position, facing potentially devastating consequences.

In the current landscape, cybercrime has expanded its reach, increasing the frequency and complexity of cyberattacks. Managing these incidents poses significant challenges, including financial losses and damage to reputation. While this holds for all types of organizations, the impact is even more pronounced for small and midsize businesses (SMBs).

Cybercriminals often view small businesses and midsize/midmarket companies as prime targets because they lack the resources to prevent attacks and effectively navigate the aftermath.

Overview of Cyberattacks on Small and Medium Enterprises

While cyberattacks targeting small and medium-sized enterprises (SMEs) might not always grab headlines, they pose a significant threat that affects the livelihoods of professionals and the individuals they serve. These attacks can have a more pronounced impact on SMEs than on larger entities due to the absence of comprehensive backup and mitigation services commonly found in larger organizations.