60% of Small Businesses Close After Cyber Attack

Running a small business can be hard enough, but cyber crime makes it even harder. According to multiple sources, once a business suffers a cyber attack there is a 60% chance that they will be closed, out of business within a year. [CS] [FC] [GM] This is a tough number to hear, especially given that small businesses have fewer resources available for I.T. Security.

Furthermore, 71% of small business report that they have been attacked, and back in 2015 the average cost of each attach was $20,753. [FC] How will it cost your business? How much should you spend to prevent attacks or to be able to survive a successful attack?

You don’t have to spend tens of thousands, and you don’t need to hire MEI Security (although we are happy to help). You can find options for lowering your risk. We sponsor free meetings, on the second Thursday of the month. Ours are in Stoughton, MA, but you may be able to find some in your area. We also have a list of resources that include free options for small to medium sized companies. Whatever your budget, there are steps you can take to protect yourself from cyber criminals. We urge you not to wait until after an attack. For 60% of small businesses that was too late for survival.



[CS] DJ Jordan, Joel Hannahs, “Collins Subcommittee Examines Small Business Cyber-Security Challenges With New Technologies”, 2013-03-21, http://smallbusiness.house.gov/news/documentsingle.aspx?DocumentID=325034

[FC] , “60% Of Small Businesses Will Close Within Six Months Of A Cyber Attackā€¦ Will Your Company Survive?”, 2015-10-22, http://www.financialcomputer.com/2015/10/60-of-small-businesses-will-close-within-six-months-of-a-cyber-attack-will-your-company-survive/

[GM] Gary Miller, “60% of small companies that suffer a cyber attack are out of business within six months.”, 2016-10-23, http://www.denverpost.com/2016/10/23/small-companies-cyber-attack-out-of-business/

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