Cybersecurity is one of the biggest threats faced by small businesses. And yet, it’s often ignored by small business owners.
“My business is too small to be targeted by hackers” is a common refrain, but it couldn’t be further from the truth. The major banks and retailers may get the bulk of the attention when a cyber-breach occurs, but small businesses are most definitely in the crosshairs of cybercriminals. As a matter of fact, the U.S. Small Business Administration reported that half of small and medium-sized businesses surveyed were the target of a cyberattack in 2015.
The alarming truth is, many small businesses are easy targets for cyber-criminals because owners don’t prioritize cybersecurity, or think that they don’t have the resources to ensure security. Making matters worse, small businesses also lack the deep pockets of larger companies, which limits their ability to recover from a cyber-issue. It has been estimated that half of small and mid-sized businesses that suffer a cyberattack go out of business within six months.
Read the full article by Tamara Worden, Senior Director of Card Brand Compliance for Sterling Payment Technologies, on SmallBizDaily.