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Why Is Ransomware a Serious Threat to SMBs

Why Is Ransomware a Serious Threat to SMBs

Sources estimate that the global cost of cyberattacks will exceed six trillion dollars by 2025. Recent news headlines show that large multinational corporations, and even governments, are not safe from attack. But if you are the owner or part of the management team of a small-to-medium-sized business (SMB), is the risk any less? Actually, recent government statistics say that 50% of SMBs have been attacked, and 60% of those attacked go out of business.

Why Are SMBs at Risk?

Lack of resources. Many SMBs don’t have the resources, infrastructure, or technical staff to properly monitor and assess vulnerabilities and stay up-to-date with current risks, much less zero-day events.

Misunderstanding of motive. Many conclude that cybercriminals are merely after large amounts of cash, so only larger corporations are at serious risk. While it’s true that money is a principal objective, there are more ways to make money than just by stealing it. Sensitive data and personal information can be sold or compromised for financial gain. Also, even if a business does not have large amounts of accessible cash, it can be held at ransom for significant payouts.

Any business or organization can be at risk. Even educational institutions, like the Columbia Falls School District, for example, can be the target of attacks that put the organization and its members or consumers at risk.

How Managed Service Providers Help Reduce Risk

Since many SMBs may lack the resources and focus needed to address cybersecurity threats, hiring a managed service provider (MSP), such as TPx can help keep businesses secure. Our professional staff provides secure solutions:

  • Help develop a strategy and mount defenses
  • Monitor, assess, and respond to threats
  • Train and coordinate with in-house IT staff members
  • Provide backups and disaster recovery services
  • Test for vulnerability and take action to mitigate risks

There is ample reason for SMBs to be concerned about endpoint management and security. TPx has the experience and resources to collaborate with your team and protect your interests. Through consultation, strategy planning, management, and deployment, our professional staff provides solutions for SMBs in various industries. Start by requesting a free 30 minute ransomware evaluation and understand which areas of your cybersecurity need attention and what you can do to better protest your business.