If you own a small business, you might think a data security package is unnecessary. But hackers have clued in to the fact that small businesses store lots of sensitive data, and they’re easy targets since they usually lack the robust security systems in place at larger companies. As this blog will explain, the average cost of a data breach for small business far exceeds the cost of data security, and a single cyber-attack could be all it takes to put your company out of business.

At Waterdog Computer Works, we offer affordable data security packages that keep business owners one step ahead of cyber-attacks. Our team has been working in IT and computer consulting for more than 25 years, and we constantly update our security systems to combat the latest threats. Call us today at 484-544-0992 to schedule a free network security assessment.

What Is the Average Cost of a Data Breach for Small Business?

It is a common misconception that large corporations are more dramatically impacted by data breaches than small businesses. But this is usually not the case.

A report published by Corporate Information Technologies, which is based on data from a 2016 Ponemon Data Breach study, explains how small businesses pay about $14,000 out-of-pocket per data breach, and that doesn’t include regulatory, compulsory, and legal fees and fines. That might sound like a lot, but it’s a conservative estimate compared to other studies that place the out-of-pocket cost above $500,000.

Unfortunately, these expenses are just the start. If your customers’ data is lost or stolen, you can expect to lose their business and possibly face lawsuits if you are found to have violated a regulation.

Hackers Target Small Businesses More Often Than Large Corporations

Cyber-attacks on small companies usually don’t make national headlines, and that’s probably the reason why so many business owners aren’t concerned. But according to a report from Paychex, the National Cyber Security Alliance discovered that more than 70 percent of attacks target small businesses, and nearly half of all small businesses have experienced a cyber-attack.

What Should Be Included in Your Cybersecurity Package?

Many small businesses think they’re safe with a basic AntiVirus program, but in an age when ransomware and malware are rapidly evolving, it’s important to have a reliable network security system in place to prevent current and future threats.

At Waterdog, we offer comprehensive security solutions including:

• A robust AntiVirus system;
• Content filtering to block access to harmful websites;
• Cloud backup in case files are deleted, lost, or corrupted;
• Email security services to block harmful viruses and spam while also ensuring you are complying with industry regulations; and
• Advanced malware protection including malicious website protection, anti-malware, anti-exploit, and anti-ransomware.

If you have questions about cybersecurity and small business, or if you’d like to learn more about cybersecurity packages from Waterdog Computer Works, call 484-544-0992.