Cyber risks for small businesses: Don’t underestimate the value of your information

The past couple of years has been like a stormy sea to Australia’s small businesses, as many struggle to stay afloat. Unfortunately, the same conditions that are so challenging for our businesses are also the ones where cybercriminals thrive. According to the Government’s cybersecurity agency, the ACSC, there has been a 60% increase in ransomware attacks against Australian entities in the past year. Untangling the aftermath of an attack on your small businesses can be expensive and stressful, while a data breach can cause significant financial and reputational damage. Yet, Australia’s small businesses remain seemingly unalarmed, questioning ‘Why would somebody bother to attack us?’.