Smb Cybersecurity Statistics

60 percent of small companies go out of business within six months of a cyber attack. The line between physical and digital is being blurred more and criminals are following the money. Security breaches have increased by 11 since 2018 and 67 since 2014.

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Hiscox cyber security attacks are becoming the new norm insurance provider hiscox reports.

Smb cybersecurity statistics. The worldwide cybersecurity market is expected to reach 167 billion in 2019 and it is only going to grow larger from there given the number of attacks and the amount of wealth stored online. When did you last read about a small business being hacked in the news. Accenture hackers attack every 39 seconds on average 2 244 times a day. Continuum reports in its state of smb cyber security in 2019 report that nearly 80 of small businesses believe their cyber security tasks will be outsourced within five years time.

47 of small businesses in the us have had at least one attack in the last year 44 of those having two to four registered attacks. And cyber attacks on small businesses represent the largest share of all the attacks in the report. That s just one of the major key takeaways from several recent industry reports tracking the evolution of cyber crime and online threats. But according to the verizon 2019 data breach investigations report dbir 43 of cyber attacks target small businesses.

In other words cyber threats posed to small to medium sized businesses smb are real and growing. Sixty percent of these companies go. Cyber criminals have tended to have a preference for larger enterprise scale businesses but that preference has been narrowing in recent years. Ibm the average lifecycle of a breach was 314 days from the breach to containment.

In fact recent cybersecurity statistics show that despite their size small businesses account for the majority of data breaches 58. General small business cyber security statistics 43 percent of cyber attacks target small business. Only 14 percent of small businesses rate their ability to mitigate cyber risks vulnerabilities and attacks as highly effective. Once this happened rarely.

Forty three percent are aimed at small businesses. According to a 2017 study published by the ponemon institute via csr there was a 50 increase in smbs reporting data breaches compared to the previous year. University of maryland the average time to identify a breach in 2019 was 206 days. Cyberattacks cost businesses of all sizes about 200 000 on average according to a recent report by hiscox.

This increase was experienced across a broad sampling of small business types. Small business cyber security statistics. Nearly half of all small businesses suffered a cyber attack in 2018. A recent investigative report published by verizon found that about 43 of all cyber attacks target small to medium size business smb operations and that margin has been hovering on either side of 50 for some years now.

62 of smbs lack the in house skills to handle cyber security.