Top cybersecurity threats facing small business in 2024—and how managed IT services can help
Explore the top cybersecurity threats and how to safeguard your small business
In 2024, small businesses continue to face many cybersecurity challenges in a rapidly evolving digital landscape. As technology advances, so do the tactics of cybercriminals, leaving small companies particularly vulnerable. Small enterprises often need more resources and expertise to combat these threats effectively, making them prime attack targets. In Deloitte’s 2024 annual cybersecurity report, 44.7% of data breaches were attributed to the misuse of valid credentials. [1]
Continue reading to explore the top cybersecurity challenges small businesses encounter in 2024 and learn how partnering with a managed IT services provider can help safeguard your business.
Phishing attacks
Phishing remains a top threat in 2024. These attacks typically involve fake emails or websites designed to trick users into revealing sensitive information like passwords or payment details.
Phishing tactics are getting more sophisticated, making it harder for small businesses to detect and prevent them. Even a single employee falling victim to a phishing scam can lead to a major data breach.
Learn more:
How to recognize and avoid phishing attacks for better security
Ransomware
Ransomware attacks, in which hackers lock up your data and demand payment for its release, are a growing concern. In 2023, ransomware affected 66% of organizations. [1] Cybercriminals are evolving their tactics, often threatening to leak stolen data if the ransom isn’t paid. For small businesses, ransomware can be devastating, leading to financial losses, disrupted operations, and potential reputational damage.
Related resource:
Top five cybersecurity Trends: What businesses need to know
Insider threats
These threats often come from within an organization—whether due to malicious intent or simple negligence, which can be overlooked and pose significant risks. Insider threats have become more frequent, as employees can unintentionally compromise security or, in some cases, deliberately steal data or sabotage systems.
IoT security risks
The rise of the Internet of Things (IoT) devices–like smart locks, cameras, and sensors adds another layer of vulnerability. As of this year, in 2024, there was a 400% increase in IoT malware attacks across various industries, with the manufacturing industry being the most targeted sector globally. [1]
Many of these IoT devices lack robust security features, providing an easy entry point for hackers to access a business’s network. As small businesses increasingly adopt IoT solutions, securing these devices is critical.
Supply chain attacks
Small businesses often rely on third-party applications to support their operations, but these partnerships can introduce cybersecurity risks. These attacks involve hackers exploiting weaknesses in the supplier systems to gain access to a business’s sensitive information. In 2024, these attacks are becoming more frequent and complex to defend against due to the interconnectedness of today’s digital ecosystems.
Learn more:
Top 10 signs your business needs managed IT services
How managed IT services can help protect your business
With the increasing complexity of cyber threats, small businesses must ensure they’re protected 24/7 because a cyber attack can be dire the smaller the organization is.
Managed IT services can provide small businesses with a complete solution offering continuous monitoring and proactive defense. This allows your business to stay ahead of threats like phishing, ransomware, and more. By addressing vulnerabilities in real-time, managed IT services help prevent disruptions before they impact your operations.
Looking for a managed IT company in Orlando to help strengthen your business’s cyber security?
InterNetwork IT offers a wide range of IT security packages uniquely tailored to fit your business’s needs. Our comprehensive security services help keep your business, your team, and your customers safe from cybersecurity threats.
Ready to get started?
Contact us today to learn more!