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50% of cyber-attacks target small to medium-sized businesses

Cyber threats are becoming more prevalent and impactful, making it crucial for businesses to be proactive especially SMB’s. About 50% of all cyber-attacks are targeted at small and medium-sized organizations, not because they themselves hold so much value, but because they are less protected, have fewer IT resources, carry valuable customer information, and are always a part of bigger supply chains. The financial impact can be devastating, having severe consequences for SMBs in terms of monetary loss, reputational damage, and closure of business.

SMBs need to recognize these risks and implement adequate cybersecurity measures—a few examples being employee training, data encryption, and regular security audits—to help protect against this rising cybercrime threat.

We understand these challenges and would like to offer you a robust cybersecurity solution that protects your business at every level. Allow our cybersecurity experts the opportunity to make sure you’re always one step ahead of the cybercriminals.

Cyberattacks Notable Studies on SMBs | Cybersecurity Solutions | TechOnsite

Key Findings From Notable Studies

All these studies together highlight the need for SMBs to be concerned with cybersecurity, invest in appropriate defenses, and take due measures to increase their awareness about the potential threats.

Verizon Data Breach Investigations Report (DBIR) 2023 Report
Cyberattacks At SMBs 46%
Keeper Security’s 2023 “Cybersecurity Census Report”
SMBs Without Cyber Insurance 60%
Lacking A Dedicated Cybersecurity Role 80%
Cisco’s “Cybersecurity for SMBs: Asia Pacific Edition”
SMBs had suffered a cyberattack in the past year 74%

cyber attacks

Severe consequences SMBs face when targeted

Small and medium-sized businesses (SMBs) are increasingly becoming prime targets for cyberattacks due to their weaker security defenses compared to larger corporations. They often lack the resources to implement comprehensive cybersecurity measures, leading to a significant awareness gap.

SMBs have to invest in appropriate cybersecurity defenses due to the following reasons, to name a few:

Severe Financial Impact

Due to the high recovery costs, system repairs, legal fees, regulatory fines, and ransom payments associated with cyberattacks, SMBs with narrow profit margins may experience financial strain or even bankruptcy.

Reputational Damage

Businesses may find it difficult to recover from a data breach and may even turn off potential clients or partners due to the loss of customer trust, reputational harm, and bad press.

Operational Disruption

Cyberattacks can cause business downtime, disruptions in supply chains, and customer dissatisfaction, impacting SMBs and larger businesses that depend on them.

Difficulty in Recovery

Studies reveal that many SMBs go out of business within six months of severe incidents due to their lack of resources, which makes them vulnerable to long-term disruption or even closure following cyberattacks.

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