On March 9, a group of cyber security industry panelists met at a House Homeland Security subcommittee meeting to discuss the state of cyber security in the private sector and engagement with the DHS. Across the group of experts, there was an overarching consensus that businesses large and small that have experienced significant effects from a data breach need resources to improve their security positions.
Advocating particularly for small businesses, Rep. Steve Chabot (R-Ohio) recently told Bloomberg that small employers face more serious risks from a breach than their larger counterparts. Chabot said nearly 60 percent of small groups that encounter a breach end up shuttering their businesses, and it’s easy to see why. At an average cost of about $32,000 per attack, these events can easily become too costly for the smallest companies to sustain their business.
And yet, for so many small employers, cyber security remains a second-tier concern.
A 2016 survey from AT&T found that 53 percent of small firms see cyber threats as a top priority concern, versus 75 percent of large businesses. A prevailing, though misguided, notion among small business owners is that they are too insignificant for hackers to target.
To make matters worse, small businesses usually have limited budgets, making it more difficult to build more robust defense programs. Even if a group of 50 employees has technical professionals on-site, it is unlikely they will have the resources to internally run a security operations center (SOC) or sophisticated intelligence program.
For the DHS subcommittee panelists, part of the answer is to work out better threat data sharing between employers and the federal government. But that strategy may convince many small organizations that they can’t take the matter into their own hands.
This simply is not the case. In fact, working with external cyber security partners can give you affordable, efficient access to solutions that otherwise would be reserved for only the largest, most well-heeled businesses.
A prime example is Lunarline’s Managed Active Response Security (MARS) program, which is available to employers of all sizes. Without the need to build an internal operations center, clients receive 24/7 active monitoring, intelligence and response on par with top, state-of-the art SOCs seen at high-clearance government institutions and Fortune 100 companies.
To learn more about MARS and other Lunarline programs, contact one of our specialists today!