Small Business Worry — Cyberattacks

The U.S. Chamber of Commerce’s first quarter small business index is quite revealing. It seems the nation’s small businesses are now as concerned with being a victim of a cyberattack as they are supply chain problems and disruptions or another pandemic.

The why is many small businesses now being the targets and victims of ransomware, email compromises and phishing attacks. Unlike big business and large corporations, small business owners don’t really have the time, the money, or the resources to defend against a cyber attack.

Thomas Sullivan is the vice president of small business policy at the chamber. He said the chamber index found 60% of small business owners concerned and things have grown so bad that many small business owners are now investing in cybersecurity tools and consultants.

"In 2018, if I had said 'phishing tests,' people would think they'd be going to a Bass Pro Shop,” Sullivan said. "Now, small-business owners know exactly what I'm talking about, and that is huge progress.”

Here are some more stats from the survey:

• 66% say they’re concerned about cyber threats
• 58% are also very concerned about supply chain disruptions
• 71% of professional service organizations are very concerned about cyberattacks
• 74% of organizations with between 50 and 400 employees are very concerned
• 48% of small business owners trained their staff on cyber security awareness and protections in 2023

Here’s the worst statistic from the survey — 27% of small business owners say they are one disaster away from shutting down.

Source link: AXIOS — https://bit.ly/4cJRTkV