43% of cyber attacks target small businesses.
60% of small businesses that are victims of a cyber attack go out of business within six months.
Cybercrime costs small and medium businesses more than $2.2 million a year.
There was a 424% increase in new small business cyber breaches last year.
47% of small businesses they have no understanding of how to protect themselves against cyber attacks.
Human error and system failure account for 52% of data security breaches.
63% of confirmed data breaches leverage a weak, default, or stolen password.
Cyber attacks caused by compromised employee passwords cost $383,365 on average.
25% of small businesses didn’t realize cyber attacks would cost them money.
54% of small businesses think they’re too small for a cyber attack.
Small businesses spend an average of $955,429 to restore normal business in the wake of successful attacks.
40% of small businesses experienced eight or more hours of downtime due to a cyber breach.
This downtime accounts for an average of $1.56 million in losses.
Industry experts say a small business’s cyber security budget should be at least 3% of a company’s total spending.
3 out of 4 small businesses say they don’t have the personnel to address IT security.
Cyber attacks are projected to cause $6 trillion in damages by 2021.