On Tuesday 14th August 2018 a group of 28 business owners met over dinner with an expert panel comprising a commercial lawyer, an insurance advisor, an IT security expert and a digital marketing specialist, to discuss the reality of doing business in the internet age and the risks involved. The format for the dinner included a panel Q&A followed by a round table discussion where attendees had the opportunity to review business best practice checklists and to speak in depth with each of the panelists to identify how the items in the checklists related to their specific businesses. All attendees left the dinner with comprehensive best practice action plans designed to help strengthen their businesses in relation to reducing the risks of doing business in the internet age.
Meet the panel
Interesting facts from Damien’s perspective
- 22% of small businesses that were breached by the 2017 Ransomware attacks were so affected they could not continue operating
- 33% of businesses with fewer than 100 employees don’t take proactive measures against cyber security breaches
- 87% of small businesses believe their business is safe from cyberattacks because they use antivirus software alone.
- $276,323 Average cost of a cyber crime attack to a business. 53% of the cost is on the detection and discovery.
- 33% of business have experienced a cybercrime.
What Damien’s clients say about him
“I see all future IT challenges being stress free and dealt with ease … The proactive approach and fast support request times have far exceeded our expectations and I highly recommend the services of Proactive IT Solutions.” Sharon Knot, Noel Jones Real Estate. #ProITS #stressfreeIT #stressless
IT support isn’t just about fixing problems; in fact it should NEVER be about fixing problems. Proper IT support is about making sure PROBLEMS DON’T HAPPEN, and empowering people to WORK BETTER.
Interesting facts from Harvey’s perspective
The National Data Breach scheme commenced on 22 February 2018 and the Office of the Australian Information Commissioner (OAIC) has so far issued one quarterly report for the period January to March 2018, which highlights that:
- Jn less than six weeks there were 63 data breach notifications to the OAIC.
- In just over half (51%) of the notifications, the cause was human error, while 44% were the result of malicious or criminal attack and 3% the result of system faults.
- The top five industry sectors that reported breaches were health service providers (15), legal, accounting and management services (10), finance (including superannuation) (8), education (6) and charities (4).
- The highest percentage of personal information involved in the breaches related to contact information (78%).
- Significantly, 20 of the 63 notifications related to only one person being affected, while 57 of the 63 applications (90%) related to less than 1000 people.
Overall message: Significant number of breaches reported, but the majority did not involve a large number of people. Human error and system faults accounted for over half of the causes. No statistics available as to the cost of the breaches.
What Harvey’s clients say about him
“Harvey is the consummate professional and is readily available when we need urgent advice, as well as for the development of corporate documents. We rely heavily on his knowledge and expertise”- Bert Mybergh and Stuart Murray-eBMS Pty Ltd-Business Management Systems.
Smart employers realise that informed, respected employees are the key to their success and security.
Interesting facts from Ian’s perspective
- Google roles out over 600 algorithm updates a year to ensure a quality search experience and to keep the web fair (including compulsory side wide SSL certificates in 2018)
- More than half of all businesses with internet access (53%) reported that mobile internet was of a major importance to their business.
- In 2015-16, 16% of businesses experienced internet security incidents or breaches. Downtime of service was the most common impact (54%) of a security incident or breach.
- In 2017 for the first time, over half of businesses in the Retail trade industry (59%) had a web presence, while 56% had a social media presence.
- More than a third of businesses reported having received orders via the internet (37%), with income obtained from these orders totalling an estimated $394 billion.
What Ian’s clients say about him
“Ian is both incredibly talented and grounded in his approach to SEO and digital presence. Having had a musical performance background he clearly demonstrates an ability to very quickly connect with people, understand their needs and make otherwise complex situations simple. In the end this translates to a seamless transition to the online environment. If you want serious SEO and not just words and a facade, go see him for your digital work.” [Phil Richards – Human Hackers]
SEO can plug a few holes for you to start with but if you’re are not willing to execute the “be awesome” directive…you’ll be pushing $?#% uphill. It’s not enough to just ‘be there’ online you have to put in the work.
Interesting facts from Peter’s perspective
87% OF ALL CYBER CLAIMS STEMMED FROM SOME TYPE OF HUMAN ERROR OR BEHAVIOR
43% OF CYBER ATTACKS ARE TARGETED AT SME’S
60% OF BUSINESSES WILL GO OUT OF BUSINESS WITHIN 6 MONTHS OF A CYBER ATTACK
The average cost of notification per record of a data breach is $194, most SME’s have over 500 individual records, that is at least $100,000 in costs to notify clients.
What Peter’s clients say about him
“Peter worked with me to build our story and find the right insurance company, policy and educated me along the way why these options worked for my circumstances and what options I could engage when the timing was right. I would have no hesitation in referring to Delphic Insurance Service for any insurance solutions, Peter is one of the genuine good guys oozing integrity” – Chris Dobbin, Nucleus Logic
Insurance to business is what the immune system is to the body.
Meet the host for the evening
Stewart Clark, Founder and Principal coach of SCS Performance
SCS performance is a specialist consultancy firm delivering a specially designed range of coaching programs to the small to medium business market - to drive bottom line return.
Stewart is an energetic and experienced business adviser with many years of experience coaching, advising and supporting small and medium sized businesses across Australia.
Leveraging a lengthy career in finance and corporate business, Stewart has worked "in" or "on" a range of businesses and industries Australia wide.
Possessing a people-oriented style and a keen eye for detail, Stewart is well versed in strategic planning, financial analysis, sales delivery and business improvement. Stewart is also a published author of “It’s not what you make, but what you keep” and is a regular speaker.
Unlike a traditional business coach, Stewart focuses on enhancing the mechanics of a business – its people, its process and its systems – to achieve long-term business success.