Cybersecurity isn’t just a big business issue anymore. Over the past few years, cyber attacks have made headlines across Canada—not only for their scale, but for how they’ve disrupted operations, eroded customer trust, and cost millions in recovery. And while major corporations might have the resources to bounce back, small and mid-sized businesses (SMBs) are often left exposed.

The truth is, today’s cybercriminals are increasingly targeting smaller organizations because they’re seen as easier to breach. In fact, the BDC reported that 73% of small businesses in Canada have experienced some form of cybersecurity attack as of 2024

Cybersecurity might feel like a technical issue, but at its core, it’s about protecting what you’ve built—your operations, your customers, and your future.

Notable Cyber Attacks in Canada

Cyber threats are no longer abstract risks—they’re real, costly, and happening right here in Canada. Recent data breaches from retail giants to public agencies have shown how vulnerable even the most recognizable names can be. For SMBs, these high-profile incidents aren’t just news—they’re lessons in what to avoid and how to better prepare.

Case Study 1: Indigo Books

In early 2023, Indigo, one of Canada’s largest retail chains, was hit by a ransomware attack that forced it to take down its website and point-of-sale systems for several days. Customers couldn’t place orders, staff couldn’t process returns, and payroll systems were also affected. The breach later revealed that employee data had been stolen and published on the dark web.

The Fallout

• Operational downtime: Indigo’s e-commerce platform and in-store systems were offline for over a week.
• Data exposure: Personal information of current and former employees was compromised.
• Customer trust issues: With no ability to shop online or access order info, customers voiced frustration—and many simply walked away.

Lessons for SMBs

While Indigo is a large enterprise, the vulnerabilities it faced—limited system segmentation, unclear breach response, and reliance on aging infrastructure—are all too common in small businesses. And, most small businesses don’t have the resources Indigo does to recover.

In 2023, Canadian businesses spent $1.2 billion recovering from cyber incidents. Projections from Statista suggest that the number could climb to 4.78 billion USD by 2028. For a small business, one breach could mean permanent closure.

Case Study 2: LCBO

In January 2023, the Liquor Control Board of Ontario (LCBO) discovered that its weekly promotional emails had been compromised. For several days, customers who clicked on links in LCBO emails were redirected to a fraudulent website designed to steal personal and financial information. While the issue was resolved relatively quickly, it left thousands of customers vulnerable to phishing and fraud

The Fallout

• Phishing risk: Customers were unknowingly redirected to malicious websites designed to collect credit card details and login credentials.
• Brand damage: Trust was shaken—especially since the breach involved a regular, trusted communication channel.
• Security concerns: Public attention raised questions about LCBO’s email and link security, as well as its ability to detect and contain such threats quickly.

Lessons for SMBs

Many small businesses rely on third-party email tools, marketing platforms, or IT vendors. But outsourcing doesn’t mean offloading responsibility. If your newsletter platform or payment gateway gets compromised, your customers will look to you—not the vendor—for answers.

Key Lessons for Businesses

If there’s one takeaway from recent cyber attacks, it’s that breaches often stem from overlooked basics—not advanced hacking techniques. For SMBs, this means that strengthening your everyday security practices can go a long way toward preventing costly disruptions.

Strengthening Data Encryption and Access Controls

Too often, businesses assume that once data is stored, it’s safe. But unless that data is encrypted—and access to it is tightly controlled—it’s vulnerable

What You Can Do (With Expert Support)

• Encrypt sensitive customer and business data, both in transit and at rest.
• Use role-based access controls so employees only access what they need.
• Deploy data loss prevention (DLP) tools to monitor how data is shared.

A cybersecurity partner can help you assess where your data lives, who has access, and what systems need to be hardened, ensuring encryption protocols and access policies meet current best practices

Regular Security Audits and Employee Training

Cybersecurity isn’t a one-and-done task—it’s an ongoing process. Many attacks succeed because businesses haven’t reviewed their systems in months (or years) or because an employee unknowingly clicked the wrong link.

What You Can Do (And Get Help With)

• Schedule regular security audits or penetration tests.
• Train staff to recognize phishing emails, suspicious links, and social engineering
• Run simulated phishing tests to spot vulnerabilities in real time.

Cybersecurity professionals can run in-depth audits that go beyond basic scans, provide tailored training based on the real risks your team faces, and help create a culture of security awareness from the ground up.

Importance of Multi-Factor Authentication (MFA)

Still relying on just usernames and passwords? That’s no longer enough. MFA adds a crucial extra layer of protection by requiring users to verify their identity through an additional method, like a mobile app or hardware key.

What You Can Do (With Guided Implementation)

• Enforce MFA across all core systems: email, accounting, cloud storage, payroll.
• Avoid SMS-based MFA and opt for more secure app- or hardware-based options.
• Use enterprise-grade tools that integrate with your existing systems.

A cybersecurity partner can help you roll out MFA the right way—making it seamless for your team while ensuring critical systems are fully protected.

By investing in proactive measures like encryption, employee training, MFA, and regular security audits, you can dramatically reduce your chances of a breach.

But you don’t have to navigate it alone.

Partnering with our experts at Canon Canada and Supra ITS can give you the tools, guidance, and peace of mind to protect your business—before a threat becomes a crisis.