10% of Small Businesses Breached Shut Down in 2019
A new report by the National Cyber Security Alliance and Zogby Analytics sheds light on the state of cybersecurity in small businesses. 88% of small firms in the survey said they were a somewhat likely or likely target for cyber campaigns, yet only 62% considered security to be among their main priorities.
While 58% of small businesses have an incident response plan, less than half (46%) think they are “very prepared” to deal with a cyberattack. Close to 30% of small firms suffered a security breach last year, sometimes with devastating consequences. In 69% of cases the incident resulted only in downtime for a limited period, but 37% of small businesses that experienced a breach incurred financial losses, 25% filed for bankruptcy and 10% had to shut down.