In an age of increasing cyber threats, small businesses are trying to take proactive steps to safeguard customer data from malicious attacks that could prove financially devastating.

What You Need To Know

  • 43% of cyberattacks target small businesses, according to Accenture 

  • The average data breach can cost small businesses well over six figures 

  • Employee training and awareness are crucial to combat threats like phishing
  • Proactive measures, comprehensive insurance help mitigate cyber risks
  • Partnerships with IT services firms provide expertise, incident response 

At Shipology, a small e-commerce fulfillment company, crews bear the crucial responsibility of protecting customers' personal information as they assemble packages daily.

"We're only gathering the data that we absolutely need," Keri Wytrwal, co-founder of Shipology, told Spectrum News 1. "We don't need all that excess data that's not necessary to us. That puts us at risk."

With personal data just a click away, cybersecurity is paramount for Shipology and its partners as they serve nearly 100 small businesses, fulfilling hundreds of orders each day.

"It's really important for us to make sure that we are safeguarding it," Wytrwal said in an interview. "Not only do we have our clients' data, we have their clients' data."

A report by Accenture found 43% of cyberattacks target small businesses. Given their often tight margins, the average data breach can cost well over six figures.

"Not every small business has the luxury of being able to hire an IT, or security department," Wytrwal said.

Data from Abnormal Security highlighted shows 28% of business email compromise attacks are opened by employees, underscoring the need for cybersecurity awareness and training.

"Phishing has become a more serious problem," John Kowalski, help desk manager at IT services company PNJ Technology Partners, said. "The way they're able to craft emails that appear legitimate has become twice as good as it was a few years ago."

Kowalski's team consistently tends to ransomware ticket requests, prepared for worst-case scenarios, he said.

"It's pretty much where we live every day," Kowalski said. "You're communicating with legal teams, vendors, or incident response teams to help make sure the incident is completely contained and eradicated."

Despite the threats, Shipology has never experienced a cyberattack, thanks to proactive measures and comprehensive insurance, Wytrwal said.

"We always have to be re-educating ourselves, learning about new technology and what other companies are doing," Wytrwal said. "We learn from not only their mistakes, but other procedures they're putting in place."

As cyber risks evolve, small businesses like Shipology are prioritizing cybersecurity through vigilance, training and partnerships with IT experts to protect their operations and customer data.