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Why Your Business Cannot Afford a Cyber Security Breach

Well, even if the chance of your company being targeted for a cyber security attack is remote, the chance is still there— and with the potential consequences being incredibly dire, it isn’t a. chance you can afford to take. Here’s why cyber security needs to be near the top of your priorities: Customer Data is Very Sensitive(1)

Budgeting in cybersecurity – Can businesses afford it? – AT&T

Feb 10, 2021According to this research, around 50% of all cyberattacks target small businesses, and over 68% of small businesses reported some type of cybercrime in 2018. Criminals have become more sophisticated, making it hard for small businesses to keep up with security measures. Phishing, ransomware, malware, and data breaches are still a severe threat …(2)

How Large Companies Tackle Cyber-Security | CIO Insight

94% of large American businesses have a cyber-security policy in place. Of these, 87% created the policy at least three years ago. Companies that focus on communication, compliance and training are addressing the evolving cyber-security threat and the internal risk employees pose. Cyber-threats evolve with the introduction of new technologies …(3)

Cybersecurity is Standard Business Practice For … – Security Magazine

More than 90% of large US companies with 500+ employees have a cybersecurity policy in place to protect them from both real and anticipated threats. B2B ratings and reviews firm Clutch Clutch surveyed corporate IT decision-makers about what to include in a cybersecurity policy and found that security software, data backup and storage, and scam detection are the most common areas cybersecurity(4)

Can You Still Afford “Not to Afford” Cyber Security? – Business 2 Community

Security has become essential to keeping the lights on, and nobody can risk a cyber attack in the middle of all this. At the same time, cash has become precious and the business outlook is unclear.(5)

How Much Do Companies Spend On Cybersecurity? – Security Forward

Nov 30, 2021That said, a small company will usually have a budget of less than $5 million. On the other hand, a mid-sized company will spend between $5 and $20 million. Lastly, a large company will most typically spend between $20 and $50 million per year. While these figures are far from cheap, we all know that cyberattacks are significantly more expensive.(6)

Can Your Business Afford a Cyber-Attack? – LogMeIn

For small businesses, strong endpoint security is no longer a nice to have, but a necessity to proactively prevent threats and mitigate costs. According to the IDC, 70% of successful breaches begin at an endpoint. In addition, over the past 5 years, the number of breaches targeting small businesses has been on the rise. Small …(7)

How to Start a Cybersecurity Company – Insureon

These high financial stakes are driving big demand for cybersecurity services. Large companies have the budget to hire cybersecurity staff. But small and midsized businesses typically can’t afford full-time cybersecurity employees. This is where your cybersecurity expertise can turn into a successful security solutions business.(8)

Will Your Small Business Withstand A Cyberattack? – Forbes

Dec 9, 2019According to insurance carrier Hiscox, the average cost of a cyberattack for businesses of all sizes is $200,000, more money than many can afford to pay. In fact, the National Cyber Security(9)

Cybersecurity: A Problem Too Big for Small Business to Ignore

And yet, according to a survey by AT&T, only 53% of companies with fewer than 50 employees place a high priority on cybersecurity, compared to two-thirds of larger ones—and only 30 percent of …(10)

Cyberattacks cost small companies $200K, putting many out of … – CNBC

Oct 13, 2019Cyberattacks cost businesses of all sizes about $200,000 on average, according to a recent report by Hiscox. Forty-three percent are aimed at small businesses. Sixty percent of these companies go …(11)

Cyber Attack Costs Can Cripple Small and Medium Sized Businesses

Think your company “can’t affordcyber security? How much will a cyber attack cost? … Small businesses face big cyber attack costs. While cyber attack costs take a large bite out of multinationals, they can swallow SMBs whole. According to Ponemon Institute, cyber attacks cost SMBs an average of over $2.2 million. Cleanup costs are …(12)

6 Reasons Cyber Security Is Vital to Business Growth

Oct 25, 2021Here are the reasons cyber security is vital in business growth: 1. Gives Satisfaction to Consumers. Most consumers nowadays are aware of the threats that can come from unsecured devices and networks. Identity theft and unauthorized credit card use are two risks that individual consumers face when using unsecured digital channels.(13)

Can you still Afford “not to afford” Cyber Security? – Medium

Earlier ransomware incidents that have affected organisations such Travelex in the UK or Bouygues in France profoundly question the way cyber security has been managed — historically — in many …(14)

Are businesses underinvesting in cybersecurity?

Feb 16, 2021The issue isn’t how large of a cybersecurity investment an organization makes, but rather, if it is spending funds properly. The cost of cybercrime jumped to over $1 trillion in 2020, according to McAfee. That number combines monetary losses (over $900 billion) with the cost of providing cybersecurity (about $145 billion).(15)

Cyber Attack Costs Can Cripple Small and Medium Sized Businesses

Think your company “can’t affordcyber security? How much will a cyber attack cost? … Small businesses face big cyber attack costs. While cyber attack costs take a large bite out of multinationals, they can swallow SMBs whole. According to Ponemon Institute, cyber attacks cost SMBs an average of over $2.2 million. Cleanup costs are …(16)

Small businesses are most vulnerable to growing … – Help Net Security

Jan 11, 2022While protecting digital resources may be easy for large companies that can afford to hire in-house cybersecurity staff and establish threat monitoring and endpoint detection infrastructure, this …(17)

Cybersecurity for Small Businesses – Federal Communications Commission

10 Cyber Security Tips for Small Business. Broadband and information technology are powerful factors in small businesses reaching new markets and increasing productivity and efficiency. However, businesses need a cybersecurity strategy to protect their own business, their customers, and their data from growing cybersecurity threats.(18)

What small businesses need to know about cybersecurity

Cyber attacks are the new normal for small business. Media reports may focus on corporate mega breaches, but small businesses are the new frontier for cyber criminals. A recent Verizon data breach report said small businesses are the target of 43% of cyber-attacks. The average loss per attack averages more than $188,000.(19)

Can Small Businesses Afford to Pay for Information Security?

In fact, the cost of implementing three of the most fundamental information security layers — intrusion detection/intrusion prevention (IDS/IPS), firewall monitoring and server monitoring for up to 5 servers –totals approximately $1,200 per month, based on current pricing for Dell SecureWorks services, or $14,400 per year.(20)

Excerpt Links

(1). Why Your Business Cannot Afford a Cyber Security Breach
(2). Budgeting in cybersecurity – Can businesses afford it? – AT&T
(3). How Large Companies Tackle Cyber-Security | CIO Insight
(4). Cybersecurity is Standard Business Practice For … – Security Magazine
(5). Can You Still Afford “Not to Afford” Cyber Security? – Business 2 Community
(6). How Much Do Companies Spend On Cybersecurity? – Security Forward
(7). Can Your Business Afford a Cyber-Attack? – LogMeIn
(8). How to Start a Cybersecurity Company – Insureon
(9). Will Your Small Business Withstand A Cyberattack? – Forbes
(10). Cybersecurity: A Problem Too Big for Small Business to Ignore
(11). Cyberattacks cost small companies $200K, putting many out of … – CNBC
(12). Cyber Attack Costs Can Cripple Small and Medium Sized Businesses
(13). 6 Reasons Cyber Security Is Vital to Business Growth
(14). Can you still Afford “not to afford” Cyber Security? – Medium
(15). Are businesses underinvesting in cybersecurity?
(16). Cyber Attack Costs Can Cripple Small and Medium Sized Businesses
(17). Small businesses are most vulnerable to growing … – Help Net Security
(18). Cybersecurity for Small Businesses – Federal Communications Commission
(19). What small businesses need to know about cybersecurity
(20). Can Small Businesses Afford to Pay for Information Security?

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