A recent survey by Visa revealed that 41% of small businesses surveyed believed they wouldn’t be targeted by hackers and data thieves due to their small size. A surprising 24% didn’t know where to obtain information on how to secure their business and 52% never sought information on how to secure their data.
All these facts in light of a recent warning by the Competition Bureau that fraudulent activity tends to increase during recessions. Small and medium sized businesses are especially vulnerable since they tend to be more aggressive in cost cutting measures in an economic downturn.
Don’t take security lightly. Whether it means changing your passwords or encrypting your data, do what you can to protect your business, even if it means spending a few extra dollars. It will pay off in the long run.