New research from the Council of Small Business Organisations Australia (COSBOA) and Cyber Wardens provides deep insights into what motivates cyber secure and insecure behaviour among small businesses.
For one, the research found that 50 per cent of Australian small businesses see cyber security as a high risk to their business in the next five years, while 45 per cent see cyber threats as a low to non-existent risk, highlighting the significant divide in attitudes around cyber risks.
Furthermore, while 67 per cent of small-business owners/CEOs and employees say that major cyber attacks on big companies have made them think more about cyber security, this has not necessarily spurred small businesses to do more towards protecting themselves. In fact, 61 per cent of small businesses are not talking about cyber security regularly and four in 10 small businesses have little to no confdence in their ability to respond to a cyber threat.
Even when small businesses see the value in embracing a culture of cyber security, the research notes that they still face several barriers, such as not knowing where to begin with cyber security, feeling of intimidation by technical jargon, being overwhelmed by not knowing what steps to take, and doubtful that they have the time, resources and digital literacy to protect their businesses against cyber threats.
Given these challenges, 86 per cent of small-business owners and employees have expressed keen interest in a program that simplifies cyber security and renders it attainable for businesses of all sizes. Moreover, there’s a resounding acknowledgement of the value of having team members adept at identifying and responding to cyber threats.
The findings were released on the occasion of the launch of the COSBOA Cyber Wardens program, which seeks to address the pressing need for simple and achievable cyber security measures tailored to small businesses, with resources to support building a culture of cyber safety in Australian small businesses.
“This new data shows us that small businesses simply cannot fall into the trap of thinking they’re too small to be a target for cyber criminals,” COSBOA CEO Luke Achterstraat commented. “It is important for small businesses to remain aware of the increasingly acute risk of cyber attacks. COSBOA’s Cyber Wardens program can help give small-business owners the skills to help mitigate the risks.”
CommBank Executive General Manager, Small Business Banking, Rebecca Warren said acknowledged that small businesses are very time-poor and that this can make them an easier target for cyber criminals.
“Cyber security can seem very complex, so it’s easy to see why some find it overwhelming, which is why education is crucial in helping people realise the dangers that are out there, and how to protect themselves against it,” Warren said.
And Telstra Chief Information Security Officer Narelle Devine said, that “cyber criminals are notoriously persistent and are constantly adapting their techniques to target all types of businesses and individuals”.
“No one is immune from the threat, which is why cyber security must be a team sport and a permanent mindset,” Deveine said. “Building support with a strong team culture where cyber security is everyone’s responsibility is critical. The Cyber Wardens program is helping equip Australian businesses to better protect themselves by pairing critical technical know-how with a focus on behaviour change.”
