Small Businesses Store Social Security Numbers, Don't Know How to Secure Them

Small businesses are not prepared for data breaches, however, they consistently store sensitive and valuable data, for instance Social Security numbers, customer email addresses and phone numbers. That’s according to a new study from global identity protection and fraud detection technologies vendor CSID. What else did the survey find? We'll unveil additional takeaways.

CSID Product and Marketing Vice President Bryan Hjelm said in a statement that small businesses aren't knowledgeable enough to protect sensitive data, pointing to cloud and bring your own device (BYOD) as potential threats to small businesses.

"With the prevalence of BYOD and cloud practices in today’s small business cyber landscape, small businesses should understand the risks they face with protecting their data and how to mitigate them," he said. "Our goal here is to educate and empower small business owners to protect their consumers and keep their businesses healthy."

CSID surveyed small businesses with fewer than 100 employees for the report, asking how they respond to “unique cyber security risks,” what types of valuable data they store, and what challenges they face when it comes to implementing a plan for breach preparedness.

The following points are what MSPs should take away from the report:

Only 12 percent of small businesses have a data breach preparedness plan in place or are currently working on one;

More than half (55 percent) of the small businesses surveyed store Social Security Numbers, 80 percent store email addresses and phone numbers, and 70 percent store home addresses for employees, customers and/or partners; and

Nearly 25 percent of small businesses stated that budget was a main obstacle for focusing on cyber security, while 43 percent of survey respondents were already comfortable with their current cyber security measures.

MSPs prospects should take these findings to small businesses. Leverage your knowledge by making potential customers partners.