How entrepreneurs can safeguard their business against cyberattacks — Chris Noles

Small businesses are the target of 43% of cyberattacks, so learning how to safeguard your company is essential. Chris Noles, the founder, and CEO of Beyond Computer Solutions, joins us on The Small Business show to discuss cybersecurity and how company owners may defend themselves against these attacks.

In 2009, Noles founded Beyond Computer Solutions with the aim of assisting small businesses in obtaining the same IT services, cybersecurity, and technologies that larger firms use, but at a far more affordable price. To help clients succeed and compete with bigger businesses, the organization offers a predictable, flat monthly charge.

Depending on the size of the organization, the price of the company varies from $1,000 to $2,000 per month. Which also includes security, a support desk, updated systems, and subscription services. As a result, the business offers full-service IT and has a cyber security division.

Factors contributing to small business cyberattacks:

According to Noles, the 43% of businesses that are targeted serve as a wake-up call for other businesses by exposing the vulnerabilities in small businesses. Because small firms lack the resources or money to invest in technology or tools to safeguard themselves, majority of attackers are able to gain access by untrained employees letting them in. 

Getting the required training is arguably the most crucial step in defending small businesses against cyberattacks. According to Noles, Beyond Computer Solutions offers a 45-minute training course with a certificate-printing final exam. Noles contends that a trained user ultimately functions as a human firewall. 

The company contacts worried business owners to offer a thorough evaluation. This concludes three major critical points:

1. Asset: Verifying the current IT system to assess what it is and is not performing. 
2. Address: Alternatively, if owners lack IT, the business addresses the gaps.
3. Maintain: Owners will cover all costs associated with maintaining the property in the event of an accident, just like any insurance company.

If an incident does occur, the company is on retainer and always prepared to assist businesses before it’s too late.

Common Behaviors:

1. Website attempt
   Hackers will contact a person with a website link that will eventually lead to the user downloading something, encrypting not only their own hard drives but also the hard drives of all the other employees in exchange for a ransom payout.
2. False real estate wires
   These hackers will disguise themself as real estate agents and at the last minute ask for a wired transfer of money
3. Personal information
   The final typical practice describes hacking into the who is who and requesting personal or health information for specific individuals. Noles points out that some cyberattacks go as far as to threaten to divulge that data if their demanded ransom is not paid. Resulting in huge implications for specific law firms or doctors’ offices.

The average cost of recovering from a cyberattack is $600,000. Despite the fact that more and more businesses are purchasing cyber insurance, the act of clicking the attack link is not covered by insurance. But, once a link is visited, hackers add the organization to a shortlist where inside attackers can gain access.