Cyberattacks: A Huge Concern for Small Business Sustainability
Cyber-attacks have caused considerable damage to small businesses’ profitability, sustainability, and longevity. Based on the cybersecurity enhancement framework, this qualitative multiple case study aimed to explore practical strategies small businesses use to minimize cyberattacks and risks. The sample size of this study was five successful small business owners in Washington, D.C., who successfully implemented strategies that reduced the risk of cyberattacks in their organizations over 5 years. Data were collected using company documents, public sources, and semi-structured interviews. The three vital themes that emerged from the research analysis were: security policy and procedures, employee training, and risk management. A strategic recommendation for small business effectiveness was investing in antivirus software, hiring I.T. experts, and learning from other companies’ cyberattacks experience. In addition, small business leaders or managers may use the results of this study to protect customers, employees, and confidential company data, thereby improving their business effectiveness and ultimately increasing employment opportunities for the local community members.
Keywords: Cyberattack risks, Business effectiveness, Antivirus software