Scary Cyber Security Stats You Need to Know

For many businesses, especially small businesses, security is often put on the back burner until something goes wrong. Here are some scary statistics about cyber security that can open your eyes and inspire you take a more proactive approach to securing your data.

General Cyber Security Statistics

Here are some eye-opening basic statistics about the risks of breach for small businesses.

• 43% of cyberattacks target small business.
• Only 14% of businesses rate their security efforts to mitigate risks as highly effective.
• 60% of small businesses that are attacked are out of business within six months.
• 48% of small company breaches are cause by a malicious act. The rest can be accounted for as a result of human error or systems failure.

The biggest concern for many businesses is the security of their customer data. For many years, small businesses felt that they were too small to be at risk, but that’s not the case. Almost half of all attacks target small business because they do not have a comprehensive plan in place. And, while most small businesses say they don’t have any sensitive data of interest to cyber criminals, the fact is:

• 68% store email addresses
• 64% store phone numbers
• 54% store billing addresses

All of this data is of significant value to a cybercriminal.

Protection is Worth the Expense

As hackers continue to target small businesses, it becomes critical to implement security protocols to protect your assets. Education and training can help business owners and employees recognize signs of an attack and learn how to protect both customers and the business from attack.

While there are some steps you can take to better protect your network and data, like regularly updating software, monitoring your business credit reports, and encrypting data when it is moving through your network, consider working with a Managed IT Services provider. These experts can plug holes in your existing security strategy to better protect your valuable data.

If you’re interested in learning more, give the data security experts at The Swenson Group a call. Let us show you how a Managed IT approach can protect your network, data and digital assets from loss.

Source Stats: Small Business Trends