Businesses Without a Cybersecurity Plan are Vulnerable to More Than Just Attacks

Most businesses notice a data breach far too late to prevent costly damage.
Cyberattack Support - Computer Logistics Corporation, Redding, California

We’ve all seen the headlines. A giant corporation is cyberattacked and millions of business customers and employees are exposed to identity theft or fraud. Small businesses don’t make the headlines, but did you know that 47% of small businesses experienced at least one attack last year? Did you know that of those attacked, 44% were hit two to four more times? Or that 66% of business owners are worried about cyber attacks but that 65% fail to do anything about an attack after it happened?

What can be done, you may ask. First, develop an executable cybersecurity plan. Second, empower one employee to manage your cybersecurity plan and activities. Third, consult with experts about your cybersecurity plan.

Here’s What We Know

  • Most businesses take over six months to notice a data breach
  • Cybersecurity incidents cost small businesses an average of $34,604 per year. It’s over $1 million for large businesses
  • Cybercrime will cost over $6 Trillion annually by 2021
  • Cybercrime is becoming more profitable than the global illegal drug trade
  • Small business makes up 48% of the workforce in the United States
  • 60% of small businesses close after a data breach
  • Only 52% of small businesses have a clearly defined cybersecurity strategy
  • 21% of sensitive files are unprotected
  • 30% of “phishing” emails in the United States are opened
  • 780,000 files were lost per day in 2017
  • Microsoft Office file formats are the most affected by hackers

Sources: Hiscox Business Insurance. McAfee’s Economic Impact of Cyber Crime, 2017.
Cyber Security Breaches Survey 2018. Varonis 2018 Global Data Risk Report. Ponemon/Arbor  Networks.

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