The Cost of a Security Breach Could Be Closure

Security breaches stink.

At best, a malware or virus attack is a nuisance and a time-sucker, because – if it hits your business – your employees will be forced to spend their time dealing with endless pop-up ads, slowed-down systems and probably computer crashes.

At worst, a company can lose precious data or experience outages that drag on for days, and even weeks, while IT experts work (often in vain) to recover records, files, account info, content, etc. Your business can be effectively shut down – unable to function – until everything can be restored or reconstructed.

Here’s where the statistics get ugly, and, although they vary somewhat from source to source, they convey a sad story.

Research shows that companies that experience an outage lasting more than 10 days will never fully recover, being burdened with financial challenges that are difficult, in some case even impossible, to overcome.

The National Cyber Security Alliance indicates 60% of small firms go out of business within six months of a breach. 25% will never reopen after a major data loss. And 70% of small firms that experience a major data loss will go out of business in a year.

Even more sobering: 85% of all breaches happen to small businesses. And 32% of all organizations have reported that they’ve been the victim of some form of cyber-crime.

And here comes the big one… and the reason for the aforementioned closures: the average cost of a data breach is about $80,000.

Clearly, cybercriminals have learned that they don’t have to go after the biggest players to inflict damage and reap their benefits. Why? Because the smaller companies – the moms & pops, the mid-sized businesses with maybe 50 or 100 employees – typically don’t invest as much in IT security as the larger firms do. And maybe they don’t expect that the cyber-thugs will spend their time on them.

They’d be wrong.

Over the years, attackers have been able to evolve, adapt and accelerate their methods to very specifically target small business in addition to spreading very broad nets. They’re nimble and opportunistic, and have the knack to sniff out vulnerabilities in business networks. As soon as a defense for one form of attack is in place, these criminals create another. Therefore, businesses, especially small-to-mid-sized businesses, must have a multi-layered approach to network security, employing measures that includes firewalls, anti-virus and malware software, monitoring, back-up solutions, and user education.

The Network Support Company has released a product called SecureIT , a highly automated solution and multilayered approach designed to address security concerns at their most probable entry points. This multifaceted approach to security greatly reduces the risk that an attack will be executed successfully.