Cybersecurity in SMEs: an issue beyond the size of the company

August 29, 2023

In today's digital environment, SMEs are not only looking to grow and consolidate in the market, but also face significant challenges in the field of cybersecurity. Although many SMEs may think that they are less attractive targets for cybercriminals compared to large corporations, the reality is different.

Recent data reveal that Latin American SMEs, in particular, are targeted by attackers. In countries such as Mexico, Brazil and Colombia, threats such as the Trojan-PSW have significantly affected these companies, demonstrating that cybersecurity in SMEs is not an issue of size, but of relevance and preparation.

How do cyberattacks impact SMEs?

Small and medium-sized businesses face significant cybersecurity challenges. Recent data reveal that 70% of cyberattacks in Spain are directed at these companies1. In Latin America, threats are equally alarming, with cases such as that of Mexico, topping the list of computer crimes in Latin America and occupying 9th place in the world ranking.

After a cyberattack, SMEs could face financial and reputational losses of up to $155,0002, according to Karpersky. In addition, 60% of SMEs affected by severe cyberattacks disappear within 6 months of the incident. This data underscores the importance of taking appropriate cybersecurity measures to protect both corporate information and customer trust.

Safeguard strategies for SMEs

  • Risk identification: SMEs need to be clear about their cybersecurity risks. In this regard, an inventory of computer equipment, Internet-connected devices and locations for storing sensitive information is essential.
  • Constant updates: Keeping software updates up to date is critical to avoid vulnerabilities that could become a threat to the business.
  • Backups: Backing up data should be considered a priority, as a data breach or ransomware attack can have a direct impact on the company's reputation and operations.
  • Adoption of specialized solutions: There are many solutions on the market that can protect the organization's digital environment. However, it is necessary to know which one is appropriate for each case. In this sense, do not hesitate to know the services and advice on cybersecurity that we have at ES Consulting, with everything you need to ensure secure IT operations.

The importance of adaptability and prevention

Adaptability is key in the world of cybersecurity. Threats are constantly evolving, and SMEs must be prepared to deal with them. Adopting a proactive, rather than reactive, mindset can make the difference between preventing a cyberattack and suffering its consequences.

SMEs should not underestimate their attractiveness to cybercriminals. Regardless of the size of the company, valuable information is a goal. It is therefore essential that SMEs consider cybersecurity as a key element of their business strategy.

Cybersecurity is an investment in the future and reputation of your company. Don't wait to be the victim of an attack to take action. If you want to learn more about how to protect your business and take advantage of our cybersecurity advisory services for SMEs, ES Consulting has what you need.

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