A bipartisan group of U.S. Senators introduced a bill named “The Small Business Cyber Resiliency Act.” The senators are seeking new ways to help small businesses protect against cyberattacks and other digital threats.
The U.S. government’s recognition of small business cyber risks begs the question … as a small business owner or executive, have you fully recognized cyber vulnerabilities and implemented appropriate protections for your business?
The Small Business Cyber Resiliency Act would establish a new Central Small Business Cybersecurity Unit, as part of the Small Business Administration (SBA). It would be responsible for creating a free and public repository of cybersecurity resources for small businesses. The unit would be designed to improve the sharing of information between the SBA, the Cybersecurity and Infrastructure Security Agency, and other agencies. This would include conducting cyber hygiene reviews for small businesses.
One of the senators commented that the significant increases in data breaches and cyber risks threaten the futures of many small businesses — which are invaluable to our communities. The senator went on to state that there are a variety of cyber threats to small businesses. Therefore, it is important that these businesses are equipped with the tools and information needed to protect their business, employees, customers, and the economy as a whole.
We view the proposed federal cybersecurity unit as having a mission that is common in many ways with the New Jersey Cybersecurity and Communications Integration Cell (NJCCIC), which was established in 2015. The NJCCIC is also known as the New Jersey Office of Homeland Security and Preparedness – Division of Cybersecurity. It is a state-level organization that facilitates the exchange of cyber threat information across the state government, businesses, and citizens in New Jersey.
It is a fallacy and common misconception that small businesses are often passed over by cyber-criminals for larger organizations. In actuality, small businesses are often preferred targets – as they can be perceived as lacking the funding for in-house and/or qualified third-party cybersecurity resources and protections.
Accenture’s annual cybercrime study indicates nearly 43 percent of cyber-attacks are against small businesses – and only 14 percent of SMBs are prepared for these attacks.
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