Cybersecurity is a complex subject, which makes many businesses hesitate to fully address it. Don’t be one of them.
The first step to understanding the importance of cybersecurity is to realize the number and type of current threats, the potential damages they can cause to your business, and the common mistakes that increase cyber risk.
1. It’s predicted that, by 2021, cybercrime will cost the world $6 trillion annually.
2. On average, a cyberattack is carried out every 39 seconds.
3. 1 in 323 emails sent to small businesses involve malicious links or a phishing attempt.
4. 95% of cybersecurity breaches can be traced back to human error.
5. The average cost of a data breach in 2021 will exceed $150 million.
6. 60% of small businesses that fall victim to a cyberattack go out of business within six months.
7. 56% of Americans are unsure how to respond in the event of a data breach.
8. On average, SMBs experience 8+ hours of downtime during a breach.
9. 62% of SMBs lack the in-house skills to handle cybersecurity.
10. 21% of business data folders are not encrypted or access controlled in any way.
Ransomware is still one of the most common threats to businesses in 2021. Typically spread through seemingly-harmless emails, ransomware can easily make its way into your network and lock access to your systems and data.
11. 63% of ransomware victims in 2019 were small businesses.
12. During 2019, in the US, ransomware infected 113 state and municipal governments and agencies, 764 healthcare providers, and 89 universities, colleges, and school districts.
DATA Backup and Disaster Recovery
Every business should have a data backup solution in place, regardless of size or industry. With technology playing such a huge role, the prospect of losing files or being denied access to your own systems is costly — and could be devastating.
13. Only 21% of SME companies have a full disaster recovery plan.
14. The average cost of downtime to a business is $5,600 per minute.
15. The most common causes of data loss are hardware/system failure (31%), human error (29%), and viruses, malware, or ransomware (29%).
16. A simple drive recovery can cost upwards of $7,500, and success is not guaranteed.
17. 58% of SMBs say they test their disaster recovery plan just once a year or less, while 33% say they test infrequently or never at all.
For ways to protect your small business, call mPowered IT at 678-389-6200 or visit mpoweredit.com.