There’s a dangerous misconception that cyberattacks only affect large organizations. The majority (66%) of business leaders at small to medium-sized businesses (SMBs) don’t believe they will fall victim to a cyberattack, according to Keeper Security’s 2019 SMB Cyberthreat Study. Small businesses are prime targets for cyberattacks.
According to Hiscox’s 2018 report titled Small Business Cyber Risk, 47% of small businesses had at least one cyber attack in the past year. This study put the average cost of a cybersecurity incident for small business at $34,604 but a more recent 2019 study by Continuum has that figure at $53,987. Furthermore, Ponemon Institute and Keeper also found that 67% of SMBs experienced cyberattacks within the past year.