Small businesses face failure through data breaches
In today's digital world, most small businesses simply could not survive without basic computer systems, and still more would be lost without the internet. The data businesses collect is essential to profile and understand consumers, manage accounts and provide the most effective services and products in a crowded and competitive market.
However, lurking beneath this essential need is a hidden danger, which many small business owners are largely unaware of. A recent UK survey sponsored by Faronics studied how UK businesses viewed data security, seeking to understand exactly what precautions were being taken and what the results of specific data breaches have been. 544 individuals from organisations with a headcount between 50 and 3000 were surveyed; 54% of these had experienced a data breach in the past 12 months.
This Faronics white paper profiles two small businesses that we studied alongside the wider survey; their habits and the consequences of their data breaches reflect a number of similar stories told by other small businesses uncovered in our survey's research. The eventual failing of both businesses less than a year after the breach should act as a shocking indication of the risks that many small businesses face, and what steps other businesses should take to prevent the same actions and patterns from being repeated in their own firms.