Most SMBs Underestimate Vulnerability To Cyber Attacks, Says Survey

Most people underestimate the vulnerability of their small business to cyber attacks, according to a survey from the password manager Keeper. The survey, which collected responses from over 500 senior level decision makers at companies with 500 employees or less, found that two-thirds of people didn’t think they’d be victims of a cyber attack. However, a previous study from the Ponemon Institute found that 67% of businesses had been attacked within the last year, demonstrating the discrepancy between the decision makers’ lack of concern and the likelihood of a cyber attack.

Related: The Best Password Managers of 2019 

Only one in ten of the survey’s respondents thought that a cyber attack was very likely, according to Keeper’s 2019 SMB Cyberthreat Study. The survey also found that:

  • 9% of people believed that cybersecurity was the most important aspect of their business when compared with recruitment, marketing, sales, quality of internal tools, and contributing to social good
  • 60% of people did not have a prevention plan against a cyber attack
  • 25% of people said that they didn’t know where to start when it comes to cybersecurity.
Keeper Survey
Keeper Survey on the Cybersecurity of Small Businesses

Small businesses need to start with password security, according to Darren Guccione, CEO of Keeper. All employees and their devices should have high-strength and random passwords along with two or multi-factor authentication. In an interview with Security Baron, Guccione said,

“Any device could be the weakest link in a business. It only takes one weak password to wreck a company.”

When looking for a password manager, small businesses should make sure that it’s built using a zero-knowledge security architecture, meaning that the vendor cannot access the master password or encryption key. Rather, all of the encryption and decryption should occur on the client side as opposed to on the vendor’s servers. Guccione told Security Baron that “for many hackers, small business are low-hanging fruit. Most small businesses don’t have formal IT budgets or staff, making them easy targets.”

Aliza Vigderman

Aliza Vigderman

Aliza is a journalist living in Brooklyn, New York. Throughout her career, her work has spanned many intersections within the tech industry. At SquareFoot, a New York-based real estate technology company, she wrote about the ways in which technology has changed the real estate industry, as well as the challenges that business owners face when they want to invest in property. At Degreed.com, an education technology website, Aliza created digital content for lifelong learners, exploring the ways in which technology has democratized education. Additionally, she has written articles for The Huffington Post as well as her own content on Medium, the online publishing platform. Aliza’s love of journalism and research stems from the excellent Journalism program at Brandeis University. At Brandeis, Aliza interned as a research assistant at the Schuster Institute for Investigative Journalism, a non-profit “news room without walls”. There, Aliza was paired with an investigative journalist and used academic databases to obtain data on everything from the suicide rates in Bhutan to local Boston court cases. Her last position was as an account executive at Yelp, educating business owners on the power of technology to increase revenue. Throughout, however, her heart remained with tech journalism, and she’s thrilled to be writing for Security Baron. When she’s not keeping afloat of the latest tech trends, Aliza likes to cook, read, and write. A former high school “Class Clown,” Aliza has completed two feature-length screenplays, a pilot, and countless comedic sketches. On her days off you can find her relaxing in Prospect Park, trying the latest flavors at Ample Hills Ice Cream, and spending time with friends and family.

Leave a Comment

Trending News

Follow Us

Reviews