It won’t shock you to know that ‘123456’ consistently ranks as the most common – and therefore most easily guessable – digital password. It may be more surprising to discover that small businesses across the UK face upwards of 10,000 cyber-attacks every day, and that only a third have even the most basic cybersecurity measures in place to protect them.
The belief that no one will hack your business because it’s not big enough could not be further from the truth - in 2019 alone, 43% of cyber-attacks involved small business victims – I dread to think of where that figure stands today.
Insecure passwords are just one of a range of potential exploits that can be targeted by hackers and fraudsters to bring down a small business. A recent Vodafone SME cybersecurity report found that almost a quarter could not continue to operate following a successful cyber-attack, which carry an average cost of over £3,000.
With World Password Day just around the corner (5th May), now is a great time to review the protections you do have in place for your small business, and to take steps towards building a more robust SME cybersecurity strategy.
Andrew Stevens is Head of UK Small & Medium Business at Vodafone, and leads a team providing insight, expertise, and SME-focused tech solutions for the UK’s growing network of small and medium businesses.
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