Cybersecurity incidents have a similar impact on SMBs as a dramatic drop in sales and put them in distress. A survey also shows that 13 percent of medium-sized companies in Germany see cyber attacks as the greatest challenge.
Cybersecurity incidents are almost as hard on small and medium-sized businesses (SMEs) as a dramatic drop in revenue; this is shown by a current Kaspersky study [1]. 13 percent of respondents from SMEs in Germany state that they consider cyber attacks to be the greatest challenge for their own business. In addition, the analysis revealed that the likelihood of a cybersecurity incident increases with the number of employees working in the company.
An attack on an SME is seen almost as dramatically as a drop in sales (Image: Kaspersky).
Small and medium-sized enterprises make a major contribution to the global economy: According to the World Trade Organization, SMEs make up over 90 percent of all companies worldwide [2]. However, as the pandemic has shown, companies of this size are particularly vulnerable to the negative consequences of crisis situations [3]. The latest Kaspersky study shows that cybersecurity incidents are the second-toughest type of crisis German companies face, right behind lost revenue. Tenancy issues or the introduction of new regulations seem to present the least of the challenges.
The threat is specific to organizations of all sizes
IT security concerns are not unfounded as the likelihood of a cybersecurity incident increases as a company grows in size. While only 13 percent of companies in Germany with between one and nine employees said that a security incident would be one of the biggest challenges, this proportion rises to 501 percent for companies with more than 23 employees.
Percentage of attacks on a company according to the number of employees (Image: Kaspersky).
"Cybersecurity incidents are affecting organizations of all sizes today and can significantly impact their operations, profitability and reputation," said Kai Schuricht, Senior Incident Response Specialist in Kaspersky's Global Emergency Response Team. "Our analyzes show that in most cases, however, attackers use obvious gaps in a company's cybersecurity to gain access to its infrastructure and steal money or data. We therefore recommend basic protective measures that even small companies can implement, such as a sound password policy, regular updates and training for employees; all of which contribute significantly to the company's cyber resilience.”
Kaspersky recommendations for SMEs to protect against threats in crisis situations
- Introducing a clear password policy that requires passwords to contain at least eight letters, one number, uppercase and lowercase letters, and one special character. In addition, it should be ensured that these passwords are changed if a compromise is suspected. For this purpose, a security solution with a comprehensive, integrated password manager [4] should be implemented.
- Install updates from software and device manufacturers as they become available.
- Use a comprehensive security solution such as Kaspersky Endpoint Security for Business [5], which protects against a wide range of threats, including ransomware.
- Regularly train employees on cyber security. Kaspersky Security Awareness [6] is based on a learning cycle with motivating and engaging learning content.
More at Kaspersky.com
[1] https://www.kaspersky.com/blog/smb-cyber-resilience-report-2022/
[2] https://www.ifac.org/knowledge-gateway/contributing-global-economy/discussion/foundation-economies-worldwide-small-business
[3] https://www.oecd.org/coronavirus/en/data-insights/smes-are-major-employers-and-particularly-vulnerable-to-the-impact-of-the-covid-19-crisis
[4] https://www.kaspersky.de/password-manager
[5] https://www.kaspersky.de/small-to-medium-business-security
[6] https://www.kaspersky.de/enterprise-security/security-awareness
About Kaspersky Kaspersky is an international cybersecurity company founded in 1997. Kaspersky's in-depth threat intelligence and security expertise serve as the basis for innovative security solutions and services to protect companies, critical infrastructures, governments and private users worldwide. The company's comprehensive security portfolio includes leading endpoint protection as well as a range of specialized security solutions and services to defend against complex and evolving cyber threats. Kaspersky technologies protect over 400 million users and 250.000 corporate customers. More information about Kaspersky can be found at www.kaspersky.com/
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