SMB Cybersecurity: By The Numbers
SMBs (Small & Medium Sized Businesses) are tempting targets for hackers for a number of reasons
99.9% of all businesses are SMBs
According to the Small Business Administration’s Office of Advocacy, there are 30.2 million small businesses in the United States, making up 99.9% of all businesses in the country. Due to such a sizeable percentage, any discussion about cybersecurity statistics should focus on small businesses.
43% of cybersecurity breach victims are SMBs
Most cyber breaches in the news involve billion-dollar companies like Equifax, Uber, and Under Armor. However, as this statistic shows, SMBs cannot expect to fly under the radar of attackers.
95% of cybersecurity incidents are caused by human error
It would be impossible for hackers to gain access to data in an environment free of human error. However, human error, including weak passwords, clicking on links in unsolicited emails and using public Wi-Fi, increase a business’s vulnerability.
45% of breaches featured hacking, 22% involved phishing, and 17% involved malware
Cybercriminals have an arsenal of attack techniques at their disposal. Therefore, small businesses must use multifaceted safety protocols to counter the most prevalent attack methods, including malware, phishing, and ransomware. While hacking may be more challenging to stop, steps can be taken to harden digital assets at a reasonable cost.
60% of SMBs that are victims go out of business
Beyond the financial consequences of a breach, network security is also hugely important for any business because an attack can compromise the trust of your customers. In fact, 60 percent of small companies go out of business within six months of falling victim to a data breach or cyber-attack.