What are the consequences of a cyber attack on a small business?

It feels like every week, we hear about yet another global business that has suffered a cyber attack. While we may only hear about big corporations, cyber attacks are also a very real threat to small businesses.

When large companies lose control over their daily business operations, they take a hit to their profitability for months after.  As dire as this is for businesses like Travelex, Marriott & British Airways, the effects of a cyber attack can be felt much harder in a small business that doesn’t have the same support or capabilities to mitigate the damage around the clock. With this being said, it is important you take the necessary steps to protect your business.

Here’s how your business may be affected if a cyber attack strikes:

• Regardless of the severity of a particular attack, your business will most likely lose the ability to communicate with clients. Unsure of where they stand in relation to your businesses operations, they may be left in the dark, causing your business to lose money and more importantly, returning client. 

• If client data is lost and your business cannot control the damage, you may also be hit with fines for not responding properly to the situation. In addition, if a fraudster holds your clients’ data hostage, you could be out a significant amount of money if you decide to pay to get it back. 

• No matter how serious the cyber attack, it will nonetheless take a hit to your business’s reputation, as customers lose trust in your reliability. 

The good news is that we’re here to help. Cyber Alarm lets you know when your business is vulnerable before an attack so that you can take the appropriate measures to keep your business safe and secure.

Image credit – James Sutton – Unsplash