In the News: Small Business Cyber Security Concerns Persist

Online security was a big topic in the past week.

Of course, news broke mid-week about the big Capital One data breach. And we talked about how you can deal with that as a small business owner and entrepreneur. There’s a good chance your data was compromised in the attack in some way so be sure to do a little digging to find out how you should respond but not overreact.

And that brings us to another bit of news we learned this week, and that’s how small business owners feel about their own cyber security.

In the 2019 SMB Cyberthreat Study from Keeper Security, we learned that nearly 2/3 of small business owners don’t feel threatened by a cyber attack. However, that same survey found that 2/3 of small business owners have been victims of a cyber attack in some way.

That should give you pause, for sure.

Now, that doesn’t mean you’ve been victimized and held in check by a ransomware attack. It could just be that your data given to another company fell into the wrong hands but it’s still putting that private data where it shouldn’t be.

Be sure to check out more from that study. And then check out the rest of the week in small business headlines in our news roundup below:

Finance

How the Capital One Data Breach Could Affect Your Small Business

The news of the Capital One data breach comes just as Equifax paid a $700 million fine for its 2017 incident. And this undoubtedly will have consumers and businesses more on edge about the security of their financial data. Even though the perpetrator of this crime was arrested, it wasn’t due to Capital One or the authorities.

Employment

Workers Compensation Secrets for Small Businesses Revealed

Major corporations remain prominent in our popular imagination. But think of our local landscapes. Because 99% of companies in the US fit the description of small businesses. Typically you can define small businesses as employing fewer than 500 people. In other words, small businesses make up the heart of our economy. And yet they don’t get much attention.

Insurance for the Self-Employed? 53% Think They Don’t Need It

When you run a business, your risk exposure increases. If you are self-employed, the outcome of these risks can have serious repercussions. A survey from Qdos reveals more than half or 53% of those who are self-employed don’t think they need insurance.

Unfair Performance Reviews Would Make 85% of Employees Consider Quitting

A new report from Reflective reveals unfair performance reviews is prompting 85% of employees to consider quitting. This is because the way we now work is completely different from the time performance reviews were created. As Liz Ryan, a Fortune 500 HR SVP, writes on Forbes, “Performance reviews are artifacts left over from the Industrial Revolution.

Local Marketing

Bad Business Reputation Proves Deal Breaker for 90% of Online Shoppers

Good online reputation is a critical success factor for your business because your online reputation influences your customers’ minds. A whopping 90% of online shoppers have chosen not to buy from a company because of its bad reputation, according to research conducted by Trustpilot.

Marketing Tips

Omnichannel Approach Resolves Customer Service Issues 40% Faster

The line which differentiates the digital and physical worlds is getting more blurred. This is allowing businesses to reach customers no matter where they are during the entire customer journey. An omnichannel approach to sales and customer service is key to making this happen. And more businesses are implementing this approach.

Retail Trends

Charging for Bags: Is It Right for Your Business?

New York is set to ban single-use plastic bags in March of 2020. It’s a big move designed to cut down on waste. But there’s another way to do your part. A new trend has retail stores charging for single use plastic bags. Small Business Trends contacted some experts to find the pros and cons of it for your small business.

Small Business Operations

UPS My Choice Allows Small Businesses to Better Track Incoming and Outgoing Shipments

UPS (NYSE: UPS) is promising to amp up the control SMBs have over both inbound and outbound deliveries with two-hour estimates. The new UPS My Choice for business service is designed specifically for small businesses. Small Business Trends got in touch with Melanie Alavi, director of Customer Technology Marketing at UPS, to learn more.

Technology Trends

Downtime Can Cost Businesses More Than $10,000 an Hour

Not that long-ago, downtime meant a temporary power outage for a small business. But in today’s digital ecosystem, downtime means much more than that. Digital transformation has changed the way businesses operate while at the same time raising the expectation of the end-user. This means outages can be very costly for companies.

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This article, "In the News: Small Business Cyber Security Concerns Persist" was first published on Small Business Trends