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27 Sep, 2023, 09:00 ET
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Scams and phishing make up 85% of online threats for small businesses in the US in 2023, yet many lack the budget and tools to protect themselves
TEMPE, Ariz. and PRAGUE, Sept. 27, 2023 /PRNewswire/ — Norton, a leading consumer Cyber Safety brand of Gen™ (NASDAQ: GEN), today announced Norton Small Business, the all-in-one cybersecurity solution to help entrepreneurs and small business owners protect their financial futures. While nearly 90%1 of businesses globally are small businesses – 99.9% in the US2 – many lack the means to protect their digital environments. Norton Small Business makes triple-lock protection accessible for small businesses to safeguard their team’s online activities, devices and customer data in an easy, all-in-one cybersecurity solution.
“Owning a very small business often means each member of the team wears different hats, and usually cybersecurity expert isn’t one of them,” said Massimo Rapparini, General Manager & Head of Small Business Safety at Gen. “Unfortunately, cybercriminals are aware of this and often target such businesses – more than half (57%) of small businesses experienced a security, data breach or both in 20223. For entrepreneurs and small businesses, falling for just one phishing email can have a devastating impact.”
Scams Taking Down Small Businesses
Small businesses face a barrage of scams and phishing threats, just like consumers. In fact, they are targeted more than large companies. Companies with fewer than 100 employees face an average of 350% more social engineering attacks than larger enterprises4, and according to data from Gen, cyber threats that rely on manipulating people account for 85% of attacks on small businesses in the US. Of these threats, phishing – for example, emails trying to trick you into clicking a link or transferring money – is the most common way cybercriminals try to access small business systems, private data, financials and intellectual property.
Businesses with under 10 employees often lack IT support, putting companies at great risk if cybercriminal attacks are successful – and many are. In 2020 alone, there were more than 700,000 attacks against small businesses totaling $2.8 billion in damages5. Norton Small Business helps small businesses disaster-proof their critical data to minimize the risk of financial loss.
Entrepreneurs Pursue Financial Freedom
Entrepreneurs often start their own businesses in pursuit of financial freedom and invest significant time, energy and personal savings to build their business. In fact, 61% of Gen Z small business owners believe entrepreneurship will lead them to retirement earlier than if they had gone straight to the corporate world6. Yet, small businesses are being heavily targeted by cybercriminals, leaving them at much higher risk of collapsing compared to larger firms when hit by a cyberattack.
With heightened risk and so much at stake, it’s surprising that about half of businesses with under 50 employees have no cybersecurity budget at all7. The effects of a cyberattack extend beyond financial consequences, and it’s time cybersecurity is pushed to the forefront of small business priorities.
Setting Up Your One-Person IT Department
Norton is your go-to partner to make small business cybersecurity simple with an all-in-one solution that provides 24/7 cybersecurity protection and a variety of features, including:
“We’ve built our small business products and services with the same approach in mind as we do with our consumer portfolio, so entrepreneurs don’t need to worry about becoming cybersecurity experts,” said Rapparini. “Norton is here to make cybersecurity accessible and easy so they can focus on building thriving businesses.”
Norton recommends these top 10 tips to protect your small business:
Norton Small Business is available now with prices starting at $59.99 for the first year with options for 6, 10 or 20-device plans. For more information, please visit norton.com/products/small-business.
Norton is a leading Cyber Safety brand of Gen™ (NASDAQ: GEN), a global company dedicated to powering Digital Freedom through its family of trusted consumer brands including Norton, Avast, LifeLock, Avira, AVG, ReputationDefender and CCleaner. Gen empowers people to live their digital lives safely, privately, and confidently today and for generations to come. Gen brings award-winning products and services in cybersecurity, online privacy and identity protection to more than 500 million users in more than 150 countries. Learn more at Norton.com and GenDigital.com.
1 Small and Medium Enterprises (SMEs) Finance, 2023, World Bank
2 The State of Small Business, US Chamber of Commerce
3 2022 Business Impact Report, Identity Theft Resource Centre
4 Spear-phishing report: Social engineering and growing complexity of attacks, 2022, Barracuda
5 Protect Your Small Business from Cybersecurity Attacks, 2021, US Small Business Association
6 Gen-trepreneur Z is making its mark on the future of small business, 2022, Microsoft
7 Survey Findings: SMB Cyber Readiness – Cyber Risk Insight Index, 2022, Corvus
8 Virus Protection Promise: You must have an automatically renewing device security subscription with antivirus for the virus removal service. If we are unable to remove the virus from your device, you will be entitled to a refund based on the actual price paid for the current term of your subscription. If you have a subscription from NortonLifeLock purchased with either another offering from NortonLifeLock or a third party offering, your refund will be limited to the price of only your subscription for the current term, not to exceed the total price paid. Any refund will be net of any discounts or refunds received and less any applicable taxes, except in certain states and countries where taxes are refundable. The refund does not apply to any damages incurred as a result of viruses. See norton.com/virus-protection-promise for complete details.
Edelman for Gen
SOURCE Gen Digital Inc.
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