As a Small Business Owner (Under 20 Users) could you afford to lose $40K on a cyber breach.

The Australian Cyber Security Centre (ACSC) annual cyber threat report to June 2022 report concluded that the average cost of a cyber breach to a small business was just under $40,000.

They defined medium-sized businesses as 20-199 employees.

Cybercrime reports and average reported loss by organisation size for financial year 2021–22

They also reported ~ 2000 calls per month over that time period. What is notable, is that they have significant statistics on small business at all.

But how do you know if you are secure?

Your IT People may tell you that you are secure, but how do they know ?

One of the most effective ways to demonstrate security maturity is by aligning with the Essential 8, a set of mitigation strategies designed by the Australian Cyber Security Centre (ACSC), that once implemented, are designed to make life hard for would-be attackers.
Some of the benefits of implementing the Essential 8 are:
  1. Provides the ability to demonstrate your companies ‘security maturity’ which can mitigate your risk liability,
  2. an improved security posture will reduce your exposure to cyber threats,
  3. attaining an Essential 8 maturity level may lead to a reduction in your cyber insurance,
  4. attaining an Essential 8 maturity level can also be used as a marketing tool.

Click here, to find out how more about the benefits of implementing the Essential 8

For a simple Essential 8 explanation check out What is the Essential 8