5 Data Security Risks Small Businesses Should Be Aware Of

View primer: 5 Data Security Risks Small Businesses Should Be Aware Of

Companies, regardless of size, rely on critical business data in order to succeed and flourish. What would happen to their business if they lost sensitive information? Based on a Trend Micro-sponsored Ponemon Institute study, more than 78% of organizations have suffered from at least one data breach over the past two years. 

Regardless of who’s responsible for the loss of data—negligent employees or other insiders, or those with malicious intent—unless an organization has the necessary knowledge and skills to protect and recover lost data, data breaches will continue to be a problem.

Organizations may face insurmountable financial liabilities if they lose sensitive data. Data breaches can result in direct costs such as reimbursement to customers and data recovery costs. Companies may, for instance, face the inevitable task of recreating lost data from scratch after a breach occurs. Even worse is the damage to one’s reputation, especially since most consumers—their customers—said they would entirely stop dealing with an organization in the event of a security breach.

In line with the data threats that small and medium-sized businesses (SMBs) face, we’ve come up with five reasons why an organization may be on the brink of a data breach, as well as tips on how to help protect companies and businesses from data breaches.