A lot of businesses, if not all nowadays, require some sort of digital aspect. Small businesses are especially new to the digital space as technological advances have moved costs down to a more affordable level for smaller outfits. There are a number of ways that technology has changed small business, from offering payment solutions with smartphones, Point of Sale systems on tablets, and computers that can connect customers to tools and resources in house and at home as they browse your business. The problem is that these smaller operations often come with less protection than a large company. The Identity Theft Resource Center reports, thankfully, that the number of data breaches reported in 2018 dropped 23% compared to 2017. A new threat emerges, however, as the number of sensitive consumer records exposed increased 126% year-over-year.
Protecting information at a small business can be tough with limited money and resources. Likewise, those who know they need a digital aspect to a business but don’t know it well can often throw something together without knowing the vulnerable aspects of cyberspace. A popular form of hacking that happens in small businesses is one that we’ve heard time and time again. Hacking an email address with a spam message is the easiest way to get into a computer. It happens most often in the form of an email that links to a webpage. Some are detailed enough to look like a paystub or maybe a message from a manager. Because of this last aspect, employees need to know it is important to tell managers if a work email is getting suspicious messages. The main message is not to open anything that looks like it might not be legit. Even then, make sure a certain number of email addresses are considered safe, and allow only the owner to open them.
Another easy way to protect yourself from the digital side of hacking is to make sure work devices stay work devices, and home devices stay home devices. Workers like using their own devices for work, but what if a device is stolen, lost or misused? Suddenly, important business data may now be in the hands of a third party that can cause harm to the business.
These conversations are crucial to have with your small business employees. Likewise, educating yourself is important. SA Capital Partners does not work to protect your business, but they can help to identify the ins and outs of a successful business in the lower middle market. Corporate consultation, as well as assistance in reworking business plans, comes second nature to this team, so reach out today to make sure your business is on the right track.
About SA Capital Partners:
SA Capital Partners is an innovative financial services firm that specializes in mergers & acquisitions advisory and capital raising for lower middle market businesses. We aspire to give all the tools necessary to complete any transaction. SA Capital Partner’s financial services industry specialists provide comprehensive, integrated solutions to banking transactions. Our breadth of services and industry knowledge allow us to understand each client’s unique business needs. Our goal is to make all financial services available to every small business.