Do you think an SMB is too small for a cyberattack? Think again! The fact is while there are so many bigger businesses to target, a small business may be at risk exactly because of their size. Hackers target small business precisely because they are small, easy to breach and often lack security protocols.
A data breach can cost a company, on average, $8,000 per incident. – National Cyber Security Alliance
Importance of Preparation
The information SMBs have (personal data, credit card info etc.) is just as valuable as any large corporation.
According to a recent study by the cybersecurity firm FireEye, SMBs are particularly vulnerable to breach. Consider these recent findings:
- 60% of SMBs do not believe they are risk of attack
- Over 40% of SMBs lack even a basic security budget
- Only 35% of SMBs have any data security plan in place
This is a bad combination of ignorance, wishful thinking and a serious lack of resources. On the one hand, most businesses don’t think they’re at risk, while on the other, even if they recognize the risk they don’t have the budget to deal with it.
Partnering Can Help
Partnering with a Managed IT Services provider can be an affordable solution for a small business. Managed IT Services can handle the around the clock monitoring and critical security updates they need to protect their data from attack.
With a Managed IT Services partner onboard, a small business doesn’t need to become an IT security expert. They will leverage their experience and expertise to create solutions to meet a company’s specific needs. This can free up time and budget to focus on growing the business.
Partnering with a Managed IT Services partner can cost 50% less than hiring in-house, and much less than the cost of recovering after an attack. According to the National Cyber Security Alliance, on average a data breach can cost a company $8,000 per incident. Moreover, 60% of businesses that are attacked close their doors within 6 months.
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