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Recently, the FBI testified before Congress that the People’s Republic of China was preparing to “sow chaos” by taking down the US power grid, oil pipelines and water systems in the event of a conflict over Taiwan.

As small business owners, you are not mere spectators in this digital skirmish but frontline warriors. The misconception that cyber security is a concern reserved for larger entities couldn’t be further from the truth. In reality, the agility and often less fortified digital defenses of small businesses make you prime targets for these modern-day privateers.

What you are about to read is a real story showing you how a business can be devastated by cybercriminals in the blink of an eye. Most importantly, I’ll share several ways this could have been avoided. Make sure to forward this to anyone who might be making online payments and, better yet, your entire staff.

Technology can provide a strategic advantage for companies in every industry when properly utilized. However, one of the biggest issues small business owners face is overcoming some of the common tech obstacles that hinder productivity. These issues can range from minor inconveniences to serious threats that can permanently shut down a business.

In today’s blog, we’ve outlined 6 of the most common technology problems small business owners deal with on a regular basis and how you can either avoid or resolve them.

Tax season is around the corner, which means so are tax scams. Without fail, every year, individuals and business owners alike fall victim to tax scams, resulting in the loss of substantial amounts of money and sensitive personal data. According to the Better Business Bureau, taxpayers lost $5.7 billion due to tax scams and fraud in 2022 alone. In today’s article, you’ll discover the top scams you need to be on the lookout for to reduce your chances of becoming these scammers’ next victim.

The year of 2023 marked a significant turning point for cyber-attacks with the introduction and wide proliferation of AI (artificial intelligence), now in the hands of people who wish to do you harm and who are actively using it to find faster and easier ways to rob you, extort you or simply burn your business to the ground. It truly is becoming a situation where the question is no longer IF your organization will be hacked, but WHEN. The Hiscox Cyber Readiness report recently revealed that 53% of all businesses suffered at least ONE cyber-attack over the last 12 months with 21% stating the attack was enough to threaten the viability of their business.

Long gone are the days when phones were simple devices used to make calls. Today our phones are advanced, handheld supercomputers that can do everything from pay a bill to order lunch for delivery to edit videos and more.

But with more capabilities come more risks. Because our phones are computers and connected to the Internet, they are susceptible to the same security risks that any other computer would be. Worse yet, personal devices often contain private information like bank account numbers, which, if accessed by the wrong person, could result in dangerous and expensive problems.

Is your company looking to hire an IT firm? Unfortunately, unless you’re tech-savvy or experienced with IT contracts, there can be hidden costs that you wouldn’t expect or know to look for. While it can sound appealing to go for the cheapest firm, that decision can end up costing you more in the long run due to carve-outs and hidden fees in the contract. Cheaper IT firms will omit certain services from the original agreement and later nickel-and-dime you to add them on or by quoting you inadequate solutions that you’ll later need to pay to upgrade.

Cybersquatting, also known as domain squatting, involves the malevolent act of registering a domain name that is confusingly similar to that of a legitimate entity, be it a business, organization or individual. The primary motive behind this maneuver is often financial gain, with cybersquatters aiming to exploit the recognition and success of well-known brands. However, the repercussions extend beyond monetary losses, as cybersquatting can stain the reputation of its victims.