Cybersecurity Stats Every Business Needs to Know

With the rapid growth of technology and online data, a strong cybersecurity strategy is more important than ever. Unfortunately, with the positive growth that brings more options, security, affordability, and flexibility to the cyber world comes the increased opportunities for cybercriminals to hack into it. For small businesses, this means that cybersecurity needs to be a priority. Whether your business stores customer data, personal information, or simply confidential information like financial figures, there is no such thing as playing it too safe when it comes to protecting that data.

Fun Fact: By 2025, humanity’s collective data will reach 175 zettabytes—that is the number 175 followed by 21 zeros (175,000,000,000,000,000,000,000).

But don’t just take our word for it. Check out these recent cybersecurity statistics and let the data speak for itself.

2022 Cybersecurity Statistics for SMBs

From 2020 to 2021, security attacks against corporate networks increased 50%. Furthermore, the number of attacks per company increased from 206 to 270 year over year.
The cost of cybercrime is predicted to hit $10.5 trillion by 2025. For reference, the cost of cybercrime in 2015 was $3 trillion. In 2021, organizations experienced the highest average cost of a data breach in 17 years at $4.24 million, up from $3.86 million in 2020.
Forty-three percent of cyberattacks are aimed at small businesses, but only 14% are prepared to defend themselves. (Don’t be part of the majority!)
By 2023, cybercriminals will steal more than 33 billion records, an increase of 175% from 2018.
Every second of every day, 44 records are stolen from small businesses.
Cybercriminals can break into 93% of company networks. On average, it only takes hackers two days to penetrate a company’s internal network.
In 2021, the United States was the country with the highest average total cost of a data breach, at $9.05 million.

How to Protect Your Data

While those statistics might seem pretty bleak, don’t let them leave you feeling hopeless. There are several things you can do to keep your company’s information safe, and most of them are straightforward.

Use Multi-factor Authentication (MFA) Whenever Possible

MFA adds an extra layer of security to protect your data. While it might be annoying to verify your login from your smartphone or other device, keeping your data safe and secure is more than worth it. Make sure your employees know how to enable MFA as well, or host a workshop to teach them. Many companies even require employees to set this feature up for certain applications.

Spread Awareness

Educate your employees on common signs of cyberattacks, such as how to spot a phishing email. Malicious emails are up 600% since COVID, making them one of the most common tactics used by cybercriminals. Invest in employee education and training. After all, prevention is the best way to avoid being the victim of a cybercrime. Some companies even send occasional suspicious emails to all employees to see if anyone falls for the fraudulent message. They use it as a teaching tool to show employees just how sneaky phishing emails can be and to encourage employees to stay vigilant.

Keep Your Software Up to Date

Outdated software and operating systems leave the door wide open for cybercriminals. Updating your software whenever updates are available is a great way to ensure that you are utilizing the latest security features available. Software updates offer solutions to the latest security threats and issues, so it really is important to update devices whenever you see that one is available.

Partner with a Network Security Company

Partnering with a company that specializes in network security is one of the simplest ways to secure your data. When you have experts implementing tried and true security measures, you can focus on your business priorities. They can also ensure that you are using the most relevant and effective cybersecurity solutions. If you are feeling overwhelmed, this is a fool-proof place to start in securing your data.

Security Solutions in Winchester, VA

If you own a small business in Winchester, Virginia or the surrounding area, the team at Cardinal Technology Solutions can help ensure that your data is secure. Our network security experts take a multi-layer approach to protect you from any threats that might bring your operations to a halt. We can implement safeguards at all levels, including file and folder security, encryption, multi-factor authentication, web filters, and anti-malware scanning and detection.

7 Cybersecurity Statistics Every Small Business Needs to Know in 2022