Cyber threats are rising rapidly, and hackers are constantly evolving their methods to get your data. Small and medium-sized businesses (SMBs) are prime targets due to limited cybersecurity resources and smaller IT infrastructures.
Cybercrime is projected to cost businesses $10.5 trillion annually by 2025 and could reach $15.63 trillion by 2029 (Cybersecurity Ventures). A single cyberattack can compromise sensitive data, disrupt operations, and even force a business to close.
With so much at stake, compliance with industry regulations isn’t just about avoiding fines, it’s essential for survival. Here’s why SMBs are more at risk than you might think and how compliance can keep your protected.
Small and Medium Sized Businesses Are Prime Targets for Cyber Threats
Many small business owners believe they’re too small to be noticed by hackers. But the reality is stark:
- 43% of cyberattacks target small businesses (Verizon Data Breach Investigations Report).
- 60% of small businesses close within six months of a cyberattack due to financial and reputational damage (National Cyber Security Alliance).
- Ransomware attacks surged by 105% in 2023, disproportionately affecting small and medium sized businesses (SonicWall Cyber Threat Report).
Understanding the most common cyber threats helps you prepare:
- Data Breaches – Hackers steal or leak sensitive business and customer data.
- Ransomware Attacks – Malicious software locks your files until a ransom is paid.
- Phishing Scams – Fake emails trick employees into revealing passwords or sensitive information.
- Malware Infections – Malicious software disrupts operations or steals data.
Ensure you are protected and safe! Have us run a complimentary Cyber Risk Assessment HERE!
Upcoming Webinar: Turn Compliance into a Competitive Advantage
Stay ahead of evolving cyber threats. Compliance isn’t just about protection; it’s a growth strategy.Join our exclusive webinar in June to learn:
📌 The latest cyber threats targeting SMBs in 2024
📌 How to implement compliance-driven security measures
📌 Ways to turn cybersecurity compliance into a competitive advantage
Industry leaders will provide actionable insights to help you build a stronger cybersecurity and compliance strategy. Seats are limited! Secure your business in 2025.