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Small-business owners could be exposing their businesses to risk by putting younger family members or employees in charge of their cyber security, according to a new report.
A new survey — which examined generational approaches to cyber security among 2,000 small-business owners and employees — showed that two-thirds or 67 per cent of small-business owners in the country believe tech-savviness equates to cyber safety skills.
However, the report also revealed that Australia’s first generation of digital natives, Gen Z or those born between 1997 and 2010, are among the least cyber safe in the country.
Conducted for the Council of Small Business Organisations Australia (COSBOA), the report explained that while Gen Z employees may have grown up with TikTok and Minecraft, they lack the awareness and key competencies of cyber security compared to their older colleagues.
The youngest generation also struggled more than other groups to identify and prevent some of the most common cyber attacks faced by small businesses, such as identity theft, malware attacks, and ransomware.
Despite the lower awareness of incoming threats compared to their older counterparts, the report noted that Gen Z rate their skills to prepare for, fight and respond to cyber threats as on par with all other generations, indicating inflated levels of confidence.
When it comes to good cyber security practices, the survey named Gen Xers and upper Millennials in their 30s as the most likely group to take cyber security seriously — making them the “safest pair of hands” in the small-business community.
Older cohorts are also more familiar with cyber security risks than Gen Z, the report’s findings showed.
COSBOA chairman Matthew Addison said the survey showed the good first step is taking stock of who is responsible for your business’ cyber protection.
“Don’t just assume your kids or younger employees are the safest pair of hands when it comes to online activity,” he added.
But what the youngest gen lacks in skills, they make up for with their enthusiasm. Results showed that Gen Z is the generation most keen to learn more and help build a culture of cyber safety.
In fact, one in two Gen Z employees, or 55 per cent, expressed their interest in participating in the Cyber Wardens program — a pilot program announced in October by COSBOA aimed to create a new resource for Australia’s 2.3 small businesses to learn how to protect themselves from cyber threats and scams.
The announcement of the new program — developed in partnership with the CommonwealthBank (CBA) and Telstra — came in the midst of some of Australia’s worst data breaches, namely Optus and Medibank.
According to COSBOA, the survey was done in preparation for the rollout of its free Cyber Wardens program across the country early this year.
CBA chief information security officer Keith Howard said the Cyber Wardens program would give small-business owners and their employees simple information and tools to stay cyber safe.
“With a focus on practical behavioural change rather than technical jargon, Cyber Wardens will arm small business employees and owners with simple steps to protect their personal and professional lives online,” he stated.
Meanwhile, Telstra small and medium business executive Anne Da Cunha said the findings showed the importance of a co-operative approach to cyber security across generations, industries and businesses, both big and small.
“Australian small-business owners have done it tough the past few years, emerging from COVID, navigating global supply chain issues and for some the impacts of natural disasters, the last thing they need is a cyber attack or scam to contend with,” Ms Da Cunha concluded.
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