--- title: Cyber Security for Small Businesses description: Cyber crime is a growing threat across the world. Recent surveys suggest that small business owners are operating under a false sense of cyber security. --- - [** ](https://twitter.com/clarkesampson) - [** ](https://www.linkedin.com/company/clarke-%26-sampson-inc) - [** ](https://www.facebook.com/clarkeandsampson) [**703-683-6601](tel:17036836601) [     Client Portal](https://portal.csr24.com/mvc/6601690) [![clarke&sampson](https://blog.clarkeandsampson.com/hubfs/Clarkeandsampson_November2018%20Theme/images/logo.png "clarke&sampson")](http://www.clarkeandsampson.com/) - [** ](https://twitter.com/clarkesampson) - [** ](https://www.linkedin.com/company/clarke-%26-sampson-inc) - [** ](https://www.facebook.com/clarkeandsampson) [**703-683-6601](tel:17036836601) [     Client Portal](https://portal.csr24.com/mvc/6601690) # Clarke & Sampson Blog # Cyber Security for Small Businesses Alexander Kehoe | Friday, June 24, 2022 Share | Facebook Twitter [Email ](mailto:?body=https://blog.clarkeandsampson.com/blog/cyber-security-for-small-businesses) High-profile cyber attacks on companies such as Target and Sears have raised awareness of the growing threat of cyber crime. Recent surveys conducted by the Small Business Authority, Symantec, Kaspersky Lab and the National Cybersecurity Alliance suggest that many small business owners are still operating under a false sense of cyber security. The statistics of these studies are grim; the vast majority of U.S. small businesses lack a formal internet security policy for employees, and only about half have even rudimentary cyber security measures in place. Furthermore, only about a quarter of small business owners have had an outside party test their computer systems to ensure they are hacker proof, and nearly 40% do not have their data backed up in more than one location. Don’t Equate Small with Safe Despite significant cyber threat exposure, 85% of small business owners believe their company is safe from hackers, viruses, malware, or data breaches. This disconnect is largely due to the widespread, albeit mistaken, belief that small businesses are unlikely targets for cyber attacks. In reality, data thieves are simply looking for the path of least resistance. Symantec’s study found that 43% of attacks are against organizations with fewer than 250 employees. Outside sources like hackers aren’t the only way your company can be attacked—often, smaller companies have a family-like atmosphere and put too much trust in their employees. This can lead to complacency, which is exactly what a disgruntled or recently fired employee needs to execute an attack on the business. Attacks Could Destroy Your Business As large companies continue to get serious about data security, small businesses are becoming increasingly attractive targets—and the results are often devastating for small business owners. According to a recent study by the Ponemon Institute, the average annual cost of cyber attacks for small and medium-sized businesses is over $2 million. Most small businesses don’t have that kind of money lying around, and as a result, nearly 60% of small businesses victimized by a cyber attack close permanently within six months of the attack. Many of these businesses put off making necessary improvements to their cyber security protocols until it was too late because they feared the costs would be prohibitive. 10 Ways to Prevent Cyber Attacks Even if you don’t currently have the resources to bring in an outside expert to test your computer systems and make security recommendations, there are simple, economical steps you can take to reduce your risk of falling victim to a costly cyber attack: 1. Train employees in cyber security principles. 2. Install, use and regularly update antivirus and antispyware software on every computer used in your business. 3. Use a firewall for your internet connection. 4. Download and install software updates for your operating systems and applications as they become available. 5. Make backup copies of important business data and information. 6. Control physical access to your computers and network components. 7. Secure your Wi-Fi networks. If you have a Wi-Fi network for your workplace, make sure it is secure and hidden. 8. Require individual user accounts for each employee. 9. Limit employee access to data and information, and limit authority to install software. 10. Regularly change passwords. In addition to the listed tips, the Federal Communications Commission (FCC) provides a tool for small businesses that can create and save a custom cyber security plan for your company, choosing from a menu of expert advice to address your specific business needs and concerns. It can be found at [www.fcc.gov/cyberplanner](http://www.fcc.gov/cyberplanner). Your Emerging Technology Partner A data breach could cripple your small business, costing you thousands or millions of dollars in lost sales and/or damages. At Clarke & Sampson, we have the tools necessary to ensure you have the proper coverage to protect your company against losses from cyber attacks. [Contact us](https://info.clarkeandsampson.com/contact-us-support) today to for additional cyber risk management guidance and insurance solutions. Share | Facebook Twitter [Email ](mailto:?body=https://blog.clarkeandsampson.com/blog/cyber-security-for-small-businesses) #### Contact Clarke & Sampson, Inc Office: 703-683-6601 Fax: 703-739-8967 228 S.Washington St. Ste. 200 Alexandria, VA 22314 [Send an Email](mailto:sjefferson@clarkeandsampson.com) - [** ](https://www.facebook.com/clarkeandsampson) - [** ](https://twitter.com/clarkesampson) - [** ](https://www.linkedin.com/company/clarke-%26-sampson-inc) The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Agency Revolution to provide information on a topic that may be of interest. Agency Revolution is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2018 Agency Revolution. 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