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How much would a cyber attack cost your small business?

According to the Hiscox Cyber Readiness Report, the average cost of a cyberattack on businesses of all sizes is $200,000.

Considering that 43% of cyberattacks are aimed at small businesses, this is certainly a threat to take seriously.

Today, hackers have more devices to target. Before the pandemic, the use of personal devices on corporate networks contributed to the increased risk of a cyberattack and now with more employees working remotely, employers should be especially considered with employees utilizing potentially unsecured networks.

The real danger is the long-term effect a cyber attack can have on your business. According to the National Cyber Security Alliance, 60% of Small to Medium size businesses will go out of businesses within six months of being targeted, and 40% have been targets of more than one such attack.

According to studies, on average it will take up to 280 days to identify and contain a security breach. Considering the average cost of the breach, you really have to ask yourself if your business can afford a threat like this.

The good news is that there are a variety of efforts you can utilize to prevent a cyber attack. For an in-depth and specific understanding of your business and the ways you can protect it, we recommend speaking to one of our engineers who can assist in protecting your network but for general purposes, you should consider utilizing:

  • Password policies

  • Reviews of network alerts, reports, performance, and more on a regular basis

  • Firewalls

  • File integrity monitoring

  • Risk Assessments

  • Malware protection

Like any modern-day danger, absolute prevention may not be possible but a serious reduction in risk is very much possible and there’s never been a better time to take this seriously than now. If you’re ready to take the next step in protecting your small business, utilize the form below and we’ll be in contact with you soon!

Keywords: cyber attack, network security