How Entrepreneurs Can Safeguard Against Cyberattacks

Small businesses are the target of 43% of cyberattacks, so it is essential that entrepreneurs take steps to safeguard their business against cyberattacks. Chris Noles, the founder, and CEO of Atlanta based Beyond Computer Solutions, joins asbn to discuss cybersecurity and how company owners may safeguard themselves against these attacks. Be sure to click the link to the asbn Small Business show to watch the full video interview!

In 2000, Noles founded Beyond Computer Solutions with the aim of assisting small businesses in obtaining the same IT services, cybersecurity, and technologies that larger firms use, but at a cost that smaller organizations can afford. In order To help clients safeguard their business against cyberattacks the same way that larger organizations do, the organization offers some options at a predictable, flat rate cost.

Factors contributing to small business cyberattacks:

According to Noles, the 43% of businesses that are targeted serve as a wake-up call for other businesses by exposing the vulnerabilities in small businesses. Because small firms lack the resources or money to invest in technology or tools to safeguard themselves, the majority of attackers are able to gain access by untrained employees letting them in. 

Getting the required training is arguably the most crucial step in defending small businesses against cyberattacks. According to Noles, Beyond Computer Solutions offers a 45-minute training course with a certificate-printing final exam. Noles contends that a trained user ultimately functions as a human firewall. 

The company contacts worried business owners to offer a thorough evaluation. This concludes three major critical points:

  • Assess: Verifying the current IT system to assess what it is and is not performing. 
  • Address: Alternatively, if owners lack IT, the business addresses the gaps.
  • Maintain: Owners will cover all costs associated with maintaining the property in the event of an accident, just like any insurance company.

If an incident does occur, the company is on retainer and always prepared to assist businesses before it’s too late.

Common Behaviors:

  • Website hack attempt: Hackers will contact a person with a website link that will eventually lead to the user downloading something, encrypting not only their own hard drives but also the hard drives of all the other employees in exchange for a ransom payout.
  • Wiring Fraud Hackers will disguise themself as real estate agents or attorneys and at the last minute ask for a wired transfer of money
  • Personal Information Breach – This is the practice of hacking in to find out who is who and request personal or health information for specific individuals. Noles points out that some cyberattacks go as far as to threaten to divulge that data if their demanded ransom is not paid. Resulting in huge implications for specific law firms or doctors’ offices.

The average cost of recovering from a cyberattack is $600,000. Despite the fact that more and more businesses are purchasing cyber insurance, the act of clicking the attack link is not covered by insurance. But, once a link is visited, hackers add the organization to a shortlist where inside attackers can gain access.