Georges Merchak, cybersecurity expert, discusses the lack of cybersecurity measures in small organizations. The podcast addresses challenges and benefits for small businesses, the importance of educating them, and practical steps to improve cybersecurity. It also emphasizes the role of Managed Service Providers and the need for collaboration between small businesses and MSSPs.
Small businesses often neglect cybersecurity, putting themselves at risk of cyber attacks and potential liabilities.
Partnering with a Managed Security Service Provider (MSSP) can provide personalized guidance and ensure a proactive approach to cybersecurity for small businesses.
Deep dives
The Importance of Building MSSP and Business Simultaneously
It is crucial for small businesses to build their Managed Security Service Provider (MSSP) and their business concurrently. This approach allows them to learn, grow, and protect their assets at the same time. The focus should be on accompanying customers and ensuring their protection is at the required level without going overboard. Small businesses often perceive cybersecurity as a distant concern, as they see high-profile breaches affecting larger companies. However, they are vulnerable and need to be proactive in their security efforts. By working with an MSSP that acts as a partner and advisor, small businesses can navigate security challenges effectively.
The Alarming Cybersecurity Landscape for Small Businesses
Small businesses are increasingly becoming targets of cyber attacks, with nearly 43% of attacks directed towards them. Ransomware attacks are prevalent, with 82% targeting companies with fewer than 1,000 employees. In 2021, 61% of SMBs experienced a cyber attack. Moreover, a significant number of small businesses are unaware of the risks, as 36% have no concern about cyber attacks, and 59% believe their size makes them insignificant targets. The lack of cybersecurity awareness and allocation of resources contribute to the vulnerability of small businesses.
The Need for Comprehensive Security Strategies for Small Businesses
Small businesses often neglect cybersecurity, with 47% of companies having fewer than 50 employees not allocating any funds towards it, and 51% not implementing any IT security measures. However, a comprehensive security strategy is essential for small businesses, as it protects their brand, maintains customer trust, ensures business continuity, and mitigates potential liabilities. It is crucial for small businesses to understand that their actions can impact larger organizations that rely on their products or services. Adopting a proactive approach, educating employees, and partnering with an MSSP that offers strategic guidance are vital steps for small businesses to enhance their security posture.
The Role of a CISO and Choosing the Right MSSP
For small businesses, having a Chief Information Security Officer (CISO) or engaging with an MSSP that provides a CISO-level expertise can be highly beneficial. The CISO acts as a bridge between the technical side of security and the business, ensuring that security considerations align with the organization's goals and strategy. By engaging with the right MSSP, small businesses can receive personalized guidance, build a mature security program, address low-hanging fruit vulnerabilities, and achieve tangible results. It is crucial for small businesses to find an MSSP that understands their unique challenges, is adaptable, and can act as a trusted advisor throughout their growth journey.
Nearly 43% of cyber-attacks are on small businesses.
82% of ransomware attacks were targeted at companies with less than 1000 employees.
61% of SMBs were the target of a Cyberattack in 2021.
37% of companies hit by ransomware had fewer than 100 employees.
And yet...
36% of small businesses have no concern whatsoever about cyberattacks. Another 59% of small business owners who have no cybersecurity believe that their company is too minuscule to be targeted.
47% of businesses that have less than 50 employees don’t allocate any funds towards cybersecurity. While 51% of small businesses don’t utilize any IT security measures.
The threat is real, but preparedness is not. Join Allan and Georges Merchak as they tackle the nuances of protecting small organizations. Georges is an industry veteran who has held many full-time practitioner roles, but also consulting roles. Georges has served small business.
Together they address:
Vs. bigger businesses, what are the challenges and benefits for the small guys? Are there any benefits?
Is there value for a CISO to consult with these guys?
What is different about their attack surface?
So security is their least concern, and yet it sure seems like it should be a big concern. How do we educate them?
What’s the maturity rollout? There is no way you can tackle a small business’ entire cyber problem in one go…
What are the low-hanging fruit? Some very practical steps?
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