Three Concerning Cyber-Security Statistics for Small Businesses

Many small business owners assume that a majority of cyber-attacks fall on larger companies. It is a complete misconception. Statistics paint a very different story. In fact, statistics show that small business owners should be very concerned about their company’s cybersecurity infrastructure.

Dealing with Cyber Security Threats

The most significant step a small business can take to combat online threats is to speak with a cyber security consultant. These professionals are not only aware of the various threats posed by hackers, but they also know how small businesses can combat the threat.

Here are the three most troubling cybersecurity statistics that should alarm small business owners:

1. Cyber Attacks Cost Businesses Millions

Small and medium-sized businesses lost an average of $2.2 million in 2017 due to cyber-attacks. Around half the cost is the damage or theft of IT assets, while the other half is disruption to the business operations.

2. Majority of Malware Arrives Through Email

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Around 92 percent of malware is delivered by cyber attackers through email. On average, an employee at a small business will get about nine malicious emails every single month. While employees are becoming more diligent about opening such emails, all it takes is one slip up to cause a major concern.

3. Cryptomining is a Serious Concern

There is a sharp rise in cryptomining attacks that small businesses must counteract. A roughly 600 percent rise in cryptomining attacks occurred in the first half of 2017, per IBM. Such attacks are especially dangerous to small businesses, because they can take up a lot of resources without anyone realizing something is wrong.

These statistics indicate that small businesses must start taking cybersecurity seriously. The cost of hiring a cybersecurity expert is far less than a single cyber-attack in the next few years.