Cyberattacks on businesses, including small businesses, are on the rise, with ransomware attacks becoming increasingly common. According to the Verizon 2023 Data Breach Investigations Report, the median cost per ransomware attack has more than doubled over the past two years to $26,000. This troubling trend highlights the importance of having a plan in place to prevent and deal with cyberattacks.

Small businesses, in particular, should prioritize cybersecurity measures to protect themselves from breaches. The human element is often the cause of breaches, with 74% attributed to employee error. Implementing safeguards such as two-factor identification and regular password changes can help mitigate the risk of being hacked.

In the event of a cyberattack, it is crucial for businesses to work with cybersecurity experts to assess the situation and determine the extent of the damage. Attempting to contain the breach without the necessary technical knowledge can exacerbate the problem. Additionally, businesses must report attacks to federal authorities within 72 hours of discovery.

Overall, the increase in cyberattacks underscores the importance of being proactive and prepared in the face of evolving threats. Small businesses, in particular, should prioritize cybersecurity measures to safeguard their operations and finances from potential breaches.