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Ransomware is a type of malicious program or malware that can restrict your access to an Internet device or data on it until you pay a ransom in exchange for the ability to access your device or data.

In this article, we will explore how ransomware enters your computer system, how it works, and how to prevent a ransomware attack.

Let’s dive in:

A ransomware attack is a type of malware attack that limits or prevents you from accessing your device or data until the ransom is paid. What’s worse, malicious actors who carry out ransomware attacks threaten to publish or sell data on the dark web if the ransom is not paid.

According to a Verizon report, ransomware contributes to 10% of all data breaches. These days, one doesn’t have to develop a ransomware kit oneself. Many ransomware operators offer ransomware as a service, allowing threat actors to easily access sophisticated tools and malicious software for targeted attacks.

The following two forms of ransomware are widely used by ransomware perpetrators around the world:

Like any other malware, Ransomware can enter your computer device in many ways. But when it comes to modus operandi, all ransomware variants have the following stages in common:

There can be a few more additional steps, depending on the ransomware variant. For example, a few ransomware variants exfiltrate data before sending a ransom note.

Though ransomware attackers promise to release a decryption key once the ransom is given, it is not always the case. Also, paying the ransom encourages threat actors to infect other devices. So, making a ransom payment should not be on the top of your list when dealing with a ransomware attack.

The following is a brief history of ransomware attacks:

The modern ransomware attacks are sophisticated and demand a big ransom. According to an estimate from Cybersecurity Ventures, global cybercrime costs to grow by 15 percent per year over the next five years, reaching $10.5 trillion annually by 2025.

Ransomware-infected systems can further infect more devices connected to a network server before you are able to remove ransomware. So, it is imperative to be proactive to block ransomware.

Here are some strategies to prevent ransomware infections:

Be it a home network or enterprise network, you should follow the best network practices to protect from ransomware or any other cyber-attacks.

You should make sure that:

Also, not segmenting your network can spread ransomware from the endpoint to servers. So, ensure that your network is segmented. Doing so can stop ransomware from spreading from one infected system to another.

Your hardware and software, including the operating system, should be up to date. And you should never use default passwords for your devices. Always, secure your devices with strong passwords.

If possible, use SSH keys. They are more secure than passwords.

Ransomware can encrypt data and files stored on your computer or server. In many cases, ransomware victims don’t get access to encrypted data or encrypted files. So, you should regularly back up all critical data offline and online.

You can easily find reliable cloud storage with an option to encrypt files for added security.

You and your employees should practice safe online behavior.

You should ensure that your employees:

Regularly getting your employees trained in the best cybersecurity practices can help you stay safe from ransomware or other types of malware attacks.

No tool completely stops ransomware. But having ransomware-specific applications can block malicious attachments in phishing emails and keep your valuable files and data safe to a significant extent.

If you have a ransomware infected machine, the following step-by-step strategy can help you navigate through the crisis:

Isolate the infected device and lockdown your network in order to stop ransomware from spreading further and encrypting files on other systems.

Assess your damage. And scan your system with a good anti-ransomware tool to get rid of active ransomware executable.

Check resources like Id Ransomware and No MoreRansom to see if a decryption key is available for encrypting ransomware that affected your system.

In most countries, authorities recommend not to make ransom payments. But it all depends on your situation.

If you don’t want to pay the ransom, you should consider encrypting data that the threat actor has already encrypted. This can prevent the misuse of data controlled by the threat actor.

Restore the machine from a clean backup or install the operating system again to completely remove malware from your device.

It is not easy to navigate through a ransomware attack. You may not know if you are dealing with a single hacker or a ransomware group.

So, it is better to get professional help to increase the chance of data recovery and complete removal of ransomware.

Spam and phishing emails are the leading cause of ransomware getting on your device. Other reasons for ransomware infection include but are not limited to malicious pop-ups on random websites, pirated software, remote desktop protocol (RDP), USB and removable media, drive-by downloads, and weak passwords.

Ransomware attackers prefer to get paid in cryptocurrency, especially in Bitcoin. This is due to the nature of cryptocurrency being confidential, anonymous, and hard to trace.

Yes, ransomware can spread through Wi-Fi. Ransomware attacks carried out through Wi-Fi can infect all the devices connected to the network. Wi-Fi can sometimes be an easy way for hackers to spread malicious code and effectuate active ransomware infection.

Image: Envato Elements

This article, "What is Ransomware?" was first published on Small Business Trends

Read more: https://smallbiztrends.com/2022/06/what-is-ransomware.html

Working in the service industry can be tough. And it’s even more difficult for many who rely on tips thanks to an increasingly cashless society. All this makes it difficult for service-based businesses to retain top talent.

Luckily, Tippy is working to solve this problem. Read about the company’s digital tipping solution for employee retention in this week’s Small Business Spotlight.

Offers digital tipping solutions.

CEO David Tashjian told Small Business Trends, “As customers carry less and less cash, the frequent question asked at front counters these days is…”Can I put the tip on my card?” And the payments industry has done a poor job of providing convenient ways to keep up with this . A good example -hotel housekeeping staff – twenty years ago over 80% of hotel guests would leave a cash tip. Today – less than 30%. And when an owner of a hotel, salon or spa allows tips on credit cards, two more issues arise -1) expensive credit card processing fees; and 2) delayed receipt of their tips as the service professional now has to wait 1-2 weeks to receive through payroll.

“Tippy’s disruptive technology provides digital tipping solutions for all industries, from hospitality to beauty to pet groomers! We provide owners a suite of tools that shows they care about their staff, and that’s what retention is all about. Tippy results in 22.3% higher tips, gets them INSTANTLY to the service professionals, and btw, saves the owner the processing fees on tips. And all while providing a convenient, personalized experience for the customer. Happy customers, happy employees…..happy business.”

Providing excellent customer service.

Tashjian says, “When we formed Tippy, we determined that the best way to solve a problem was by hiring team members who had experienced it first hand. Everyone one of our Customer Success Managers that works with salons and spas, for example, worked behind-the-chair at one point in their career. Thus they understand first-hand the problems and can best relate our solutions.”

By mixing different skills and experience.

Tashjian explains, “Two brother in-laws founded the company. One from fintech and one in the salon/beauty industry. It was a match made in heaven!”

Growing a team with a cohesive goal.

Tashjian says, “I know this may sound cliche, but our biggest “win” in our company’s history is putting together a team of individuals that ALL have the same definition of winning. Sounds easy but it’s hard as you grow. Everyone at Tippy is focused on the customer and defines “winning” as providing the best solutions for them. Thus we all work so well together – and that makes work fun.”

Bringing in an external partner to build the solution.

Tashjian explains, “We’re a technology company and of course believe we build things the best. We developed our own digital wallet but were struggling to offer the robust features our customers deserved. And in-the-end, that’s what we should be all about – offering our customers the best! So, after an extensive search, we teamed up with Branch. This partnership held multiple risks- would our cultures clash? Did we have similar commitments to customer service? etc. If the partnership failed, it would have meant upseting customers and a potentially disastrous loss of time in our forward roadmap. Fortunately, we not only chose a good partner…we chose a great one! We are getting wonderful customer reviews and are working fantastically together. This is one decision we will never doubt!”

Get enough funding early.

Tashjian says, “Don’t be scared to take more money in your early funding rounds. Every financing round requires a substantial amount of time and focus, and while more early money means more dilution, the benefits of not having to return to the market so many times allows you to focus more time on what’s the most important – porting and growing your business!”

Sales and marketing.

Tashjian adds, “These days valuations are driven more by growth and less by bottom line. In the fintech space you must focus more on the top line every day.”

Open communication.

Tashjian says, “We off course hold normal weekly meetings, but we go a step further. We hold quarterly company-wide Town Halls. It’s here we share our full financials as well as all significant discussions we are having in the industry. Both our wins and our stumbles are heard by all in the company. It keeps everyone rowing in the same direction, minimizes surprises, and creates a wonderful work environment in this world of flexible and virtual workspaces.”

* * * * *

Image: Tippy, David Tashjian and Terry McKim

This article, "Spotlight: Tippy Provides Employee Retention Through Digital Tipping Solution" was first published on Small Business Trends

Read more: https://smallbiztrends.com/2022/06/tippy-provides-employee-retention-through-digital-tipping-solution.html

The health and fitness industry is booming. So there are plenty of opportunities for fitness professionals to start their own successful enterprises. If you’re looking for fitness startup ideas to launch in 2022, here are some to consider.

The fitness industry has evolved significantly in the last couple of years. There’s a major emphasis on at-home and virtual workouts. So there’s lots of room for growth when it comes to selling home gym equipment, subscriptions, and even wearable technology.

There are so many fitness companies serving various niches within this industry, so the options are nearly endless. If you’re looking for a great fitness business idea, some top options include personal training, selling fitness equipment, and offering workout classes in person or online.

However, there are also many people who are excited to get back to the gym or do in-person workouts. This market segment is expected to grow by 3.7 percent in 2022. So there’s plenty of room for starting a successful fitness business no matter what market you’re interested in exploring.

If you’re ready to start your own business in the health and wellness field, here are some top fitness business ideas to consider.

A personal trainer helps clients one-on-one to help them reach their personal fitness goals. You can start a personal training business in-person or online, either charging one-time fees for sessions or ongoing subscriptions. Some trainers offer various workout options, while others focus on a specific area like strength training.

A health club allows members to use their gym equipment and facilities in exchange for a monthly fee. This requires a dedicated space and specialized equipment. But you can earn a steady monthly income with enough members.

Read more: How to Start Your Own Gym

Fitness studios may also offer some equipment and instructions, but they’re usually known for providing group classes. This option also requires a dedicated space, but it’s usually smaller and includes less heavy equipment than full gyms.

Yoga studios offer classes specifically for this niche audience. You may focus most on actual movement and/or the meditative and spiritual elements. This same concept can also be applied to other specific niches like pilates, barre, or cycling.

Bloggers can offer tips and online workouts that others can do on their own time. This can be done remotely, so you don’t need your own facility or lots of upfront costs. You just need your own website. And signing up for social media accounts and other online platforms may help you with marketing.

Fitness instructors can essentially freelance by offering classes at various facilities or providing online training on a contract basis. This option may be perfect for beginners, since you don’t need a dedicated space and can learn about the industry while working with established businesses. But many experienced fitness professionals use this as the main source of income for their business long-term.

Read more:  Small Business Ideas for Beginners

Health coaches work individually with clients, focusing on fitness as well as other areas like healthy eating. You can interact with people virtually or in person and charge a one-time or ongoing subscription fee, depending on your needs and goals. Many coaches even provide multiple levels of services.

In addition to these popular options, there are some lesser-known ways to start your own fitness business. The list below may include the perfect business idea for you.

Physical therapists require official training or degrees. You can start a profitable business helping athletes recover and stay healthy and active. Services often include evaluating injuries, creating stretching and exercise programs, and performing manual adjustments.

Acupuncture therapy is an emerging field that involves inserting tiny needles into specific points to move energy around or accomplish other health goals. This is a form of alternative medicine that is gaining lots of traction in the fitness and wellness community.

Dance can be a fun way to get more movement. Studios can offer classes for people of all ages or focus on a specific niche, from ballroom dancing to gymnastics.

Read more: Spotlight: Gym Kidz, Inc. Offers Gymnastics Classes for All Kids

Fitness influencers may post workouts and tips on social media, working with relevant brands to provide sponsored content. Some influencers also create content on platforms like YouTube, which offers the opportunity to earn ad-sharing income.

Wearable devices that track calories, steps, and other health metrics are gaining popularity. This option has a higher startup cost than some other ideas since you need to develop tangible products. However, you can also sell these devices at a higher price point.

Read more: New Fitness App Suggests a Niche Your Small Business Could Help Fill

Pop-up training events may include outdoor boot camps at a local park or special training sessions at local gyms. Charge a small admission for each event instead of getting your own dedicated space.

Read more: This Food Truck Sets Up Shop in Gym Parking Lots

A fitness equipment store may stock various supplies and exercise equipment that people can use for their workouts. You may provide a full array of products or focus on a specific market like apparel or weightlifting gear. This type of company requires its own space and relationships with vendors.

Workplace wellness instructors partner with companies to offer workout classes and instruction. You may interact via live streaming or visit teams in person. Many of these entrepreneurs also dive into other areas of well-being like offering meal kits or meditation demonstrations.

There are many different business model options within the wellness industry, so profitability depends on the type of business you start. However, there is a lot of room for profit in this space, since many companies can be started at a low cost, and consumers are generally willing to pay for fitness and wellness products and services.

Image: Envato Elements

This article, "15 Fitness Business Ideas" was first published on Small Business Trends

Read more: https://smallbiztrends.com/2022/06/fitness-business-ideas-2.html

A bill has been introduced in the US Senate for the federal government to issue another round of COVID relief to aid small businesses. The bill introduced by Ben Cardin (D-Md.) chair of the Senate Committee on Small Business and Entrepreneurship aims to provide grants to hard-hit small businesses that can demonstrate substantial losses in 2020 and 2021 due to the COVID-19 pandemic.

The bill will establish the Hard-Hit Small Business Relief Fund, which would transfer the remaining funds from the U.S. Small Business Administration’s (SBA’s) COVID-19 relief programs. The bill is planned to make grants amounting to $6 billion available to small businesses.

The Hard-Hit Small Business Relief Fund authorizes the SBA to define the eligibility of businesses that are sole proprietorships, independent contractors, self-employed individuals, and tribally-owned small businesses. The bill also requires the SBA to track and report all grants publicly and establish an auditing process to ensure that the program is administered transparently.

“American small businesses are still struggling under unsustainable debt, ongoing supply chain delays, and workforce challenges that inhibit their ability to operate and grow their businesses. The Hard-Hit Small Business Relief Fund Act would make the approximately $6 billion in unused federal COVID-19 small business aid available to the small businesses that need help the most”, said Cardin.

The Hard-Hit Small Business Relief Fund follows a slew of relief packages being rolled out by the government. In March President Biden enacted a coronavirus stimulus bill that is designed to help, providing $1.9 trillion in assistance to businesses and individuals. The bill includes aid in the form of tax credits, loans, and grants.

Small businesses had seen challenges emerge as they try to transition into the post-COVID era. Among the merging challenges include inflation reaching a historic 8.6%, rising fuel prices, and supply chain issues. All creating challenges for small businesses to remain on track towards recovery. Inflation saw across-the-board increases in May, with shelter, gasoline, and food being the largest contributors.

After declining in April, the energy index rose 3.9 percent over the month with the gasoline index rising 4.1 percent and the other major component indexes also increasing. The food index rose 1.2 percent in May as the food at home index increased 1.4 percent. With less to spend, customer demand for goods and services is seeing a decline.

Businesses too are feeling the pinch. A report by SCORE indicates that a majority of small businesses (62.7%) have seen their profits decline to much lower than expected, or somewhat lower due to lower sales and higher expenses. Only 15.5% have reported that their profits were higher than expected.

Slower sales, rising supply costs, supply disruptions, labor shortages, the pandemic, and global instability have all been factors. Some 58.6% of businesses report much lower or somewhat lower sales than expected, and at the same time over half report (59.5%) expenses being somewhat or much higher than expected.

Image: Depositphotos

This article, "Senate Bills Calls for Making $6 Billion Available in Small Business Grants" was first published on Small Business Trends

Read more: https://smallbiztrends.com/2022/06/senate-bills-calls-for-another-round-of-small-business-grants.html