Business owners are now starting to realize how important technology is. Close to half of businesses (44%) now offer their services online. Most (85%) already run a blog or website to represent their company.
Small businesses that adopted technology have grown in recent years. Unfortunately, so have the threats to cybersecurity. It’s time for business owners to protect themselves against these online dangers and consider outsourced IT. So we’ve listed down everything you need to know about cybersecurity – and how outsourcing to an IT provider can help your small business.
Fact #1: Cyber attacks costs small businesses billions each year
Surveys by the Federation of Small Businesses reveal the startling impact of cyber attacks in the UK. Based on their findings, 5.4 million small businesses experience cyber threats at an average of 7 million times a year. At least 66% were attacked by cyber crimes in the past 2 years, costing them a total of £5.26 billion in losses.
Why you should outsource: According to a government report, 58% of small businesses outsourced their IT needs in response to these threats. Unlike in-house staff, it provided the added benefit of 24/7 cybersecurity.
Fact #2: More than half of businesses seek help on cybersecurity
A 2017 survey by Cyber Security Breaches found that half of UK businesses were targeted by cyber crimes in the past year. To counteract the problem, 58 percent of small business owners seek professional help. Furthermore, two-thirds of all business firms spend an average of £2,600 a year on cybersecurity. However, this also means that one-third of businesses are completely vulnerable to cybercrime.
Why you should outsource: Crowd Research Partners reported that 45% of UK businesses view the lack of skilled professionals as the biggest hindrance to reliable cyber security. The workaround? Outsourcing to a professional IT support company.
Fact #3: Small businesses that use the cloud have nearly doubled
In 2016, only 39 percent of businesses were using a cloud platform. By 2017 this number grew to a whopping 61 percent.
Why you should outsource: Cloud is an extremely cost-effective technology capable of multiple functions. Among the benefits of the cloud are:
- Platform development
- Computing infrastructure (i.e. data storage)
- Managing and sharing applications
The best feature of the cloud is that everything is accessible over the internet. And it helps that most IT companies offer cloud support.
Fact #4: About half of IoD members don’t know where they stored their data
The Institute of Directors (IoD), which comprises of key personnel from various companies, surveyed its members. Surprisingly, as much as 43% of them didn’t know where their data was being stored. Understanding the technology behind it is important for any business since it’s the primary target of cybercrime.
Why you should outsource: The real-world consequences of data loss is devastating. Diffusion Group studied small businesses who suffered data loss from a security breach. They discovered that 60 percent of them closed within 6 months following the attack.
Fact #5: All employees are vulnerable to cyber crimes
From customer service to CEOs, everyone in your company is vulnerable to these threats. Countless staff have fallen victim to phishing emails. High-level personnel are often the target of whaling scams, resulting in up to £2.4 billion worth of losses.
Why you should outsource: A third-party IT company can equip your small business with a wealth of knowledge and best practices in cybersecurity.