A recent study conducted by the Council of Small Business Organisations of Australia (COSBOA) and the Cyber Wardens program has brought to light the growing concern of cybersecurity among small businesses in 2024. With increasing costs and economic challenges on the horizon, small businesses are facing significant pressure to protect their operations from cyber threats.
The survey, which included responses from over 2,000 small businesses, revealed a concerning lack of confidence in preventing or responding to cyber incidents. Nearly 40% of small business owners admitted to feeling underprepared when it comes to cybersecurity, highlighting the urgent need for accessible training and resources in this area.
COSBOA CEO Luke Achterstraat emphasized the importance of investing in cybersecurity training and tools to safeguard small businesses, their employees, and clients in the face of mounting cyber risks. He noted that the upcoming year is expected to be particularly challenging for small businesses, making it crucial for them to be aware of the growing threat of cyber-attacks.
The Cyber Wardens program, established to empower small business owners with essential cybersecurity skills, is seen as a valuable resource in mitigating the risks posed by cyber threats. Mr. Achterstraat stressed that cybersecurity is a critical concern for all small businesses, regardless of their size or industry, and encouraged owners to take proactive steps to protect their operations from cybercrime.
According to Scamwatch, Australians suffered losses of over $429 million due to scams in 2023, with phishing, false billing, online shopping scams, and identity theft being the most commonly reported scams. The Australian Competition and Consumer Commission (ACCC) reported a significant increase in the number of businesses falling victim to scams, underscoring the need for enhanced cybersecurity measures.
In response to these growing threats, COSBOA’s Cyber Wardens program offers government-funded cybersecurity training for small business owners and employees. The program covers essential skills such as multi-factor authentication, password management, and device security, equipping participants with the knowledge needed to safeguard against cyber threats in just 10 minutes.
Small business owners are encouraged to take action today and enroll in the Cyber Wardens program to protect their businesses and ensure a secure future. By investing in cybersecurity training and implementing best practices, small businesses can strengthen their defenses against cyber threats and safeguard their operations from potential harm.