Key Stats for Small Business Owners Related to Cybersecurity

Cybersecurity is related to the protection of computer systems, networks, and PCs connected to the Internet. Cybersecurity is the real threat as far as we can remember after the advent of the Internet. This was only logical as people with malicious intentions started to cash on by finding loopholes in the security systems and start to manipulate the information or steal/corrupt the data. In this article we will talk about the Key Stats for Small Business Owners Related to Cybersecurity.

There are various threats and loopholes in which the cybersecurity of any company or individual can be compromised. This can be in the form of backdoor left by hardware and software, code injection, cross-site scripting, viruses, malware, denial of service attacks, etc. Each of them can cause significant damage to any system. One example is Ransomware attacks, through which hackers can not only indulge in data theft but encrypt it until their demands are met, usually in the form of cryptocurrencies. 

I will try to focus on cybersecurity for medium and small businesses owners and startups here. These are amongst the most vulnerable in this concern and can be disastrous for them as they don’t have many backup plans like big businesses and multinational conglomerates. 

Why Small Business Owners Related to Cybersecurity?

Small businesses owners and startups are prone to cyberattacks, just like any other business entity. But because of the factors mentioned above, they need to be on top of their game, ensuring that nothing much happens to them. But, ironically, most businesses don’t take it seriously, and after just installing antivirus software, they think that they have done enough in this regard. Of course, the data breach can have any can’t be dealt with just any antivirus software.

There are many adverse scenarios and schemes of events that can occur in any business across the globe. On average, about 18% of the businesses get hit by cyber-attacks, And that’s a big number. But still, many businesses think that they are not vulnerable to such attacks as they don’t have a big customer base. Or they don’t earn millions of dollars in yearly revenue, so they aren’t prone to such attacks.

Let me shed some light on this aspect so that you can understand my viewpoint easily. 

The approach mentioned above in the previous paragraph is totally wrong by such businesses. The people that indulge in cyber-attacks don’t necessarily think about the size of the business. It is the vulnerability that they try to cash in, and even startups can be hit by a cyber-attack even if they had just started their operation a few weeks ago. Any vulnerability in defense of their hosting server, for example, will definitely be exploited by such criminals. This is why they must go for cheap dedicated servers as they can’t afford a premium solution. 

How Costly are these Cyber-Attacks?

According to a report by IBM, on average, the cyber-attacks cost around 7.68 million dollars. Of course, this is a huge amount for small businesses owners and startups, and in 9 out of 10 cases, this can’t happen to them as SMBs don’t fall into this category. But the figure mentioned above has been calculated from all the cyber-attacks that occur online. And this includes big multinational conglomerates and Fortune 500 companies. 

One alarming statistic is that more than 60% of small business owners hit by a cyber-attack go out of business within six months. This highlights the severity of the situation and why cybersecurity is critical for any business’s survival.

During the past year and even in the current scenario, online businesses have reaped huge profits. People flocked to e-commerce stores and shopping portals, especially during the lockdown. Even after that, customers who were satisfied with their preferred online store’s service continued to shop online.

According to IBM’s report, around 43% of small businesses don’t apply any cybersecurity measures. This is a blunder, and they pay the price for it. Even a small attack on their servers can cause significant damage. If a data breach involving their customers occurs, it can ruin their future in the marketplace. For many businesses, it can be the last nail in the coffin.

Endpoint Security Concerns

According to Bullguard’s survey of 3,083 SMBs, it depicts a grave picture of the businesses’ online security measures. 23% of SMBs in the UK and USA neglect endpoint security mechanisms and this is one of the biggest reasons for information security frameworks breaches. There can be various scenarios that businesses must look into, and one of them is related to social media use. 

The most widely used and popular social media platform is Facebook, and businesses must ensure that they leverage the optimum platform. But the official business accounts of Facebook can also be hacked. Just like websites are hacked, social media accounts can also be hacked. Some of my readers wonder what I can do with just the official account of businesses? The possibilities are unlimited. Let me offer you two examples so that you can understand how severe this hack can be.

Consequences for Official Account Hack

There have been instances where the official Facebook account of companies and big businesses has been hacked. Just a fake status on the official Facebook page from these companies can be disastrous for them. One of the worst examples in the past was in 2020 when the Twitter accounts of major companies and celebrities were hacked. 

The incident was reported on July 15, 2020. The hacker’s message announced giving away double Bitcoins for every single one sent to a fake address. Within minutes, the hacker minted around 100,000 US dollars. The list of celebrities’ names and business owners kept growing. It included the likes of Barack Obama, Jeff Bezos, Floyd Mayweather, and Kim Kardashian. The message reached millions of users. Reportedly, thousands of them acted upon it.

Facebook hack report must be sent to the Facebook authorities to ensure quick retrieval of the account. Always treat your company’s official social media accounts as sensitive as any information leaked can lead to hacking. Even otherwise, applying several cybersecurity measures is what you need to operate your website and social media accounts with complete peace of mind. 

- A word from our sponsors -

Most Popular

More from Author

- A word from our sponsors -

Read Now

How to Protect Software Development Projects from Deepfake and AI-Powered Cybersecurity Threats in 2025

There has never been a better time to build software than now, in the world of 2025, and there has never been a more challenging time to secure software than now," said Kaspersky. Deepfake and AI-based threats have moved from theoretical threats to realistic attacks, and they...

Best Places to Outsource Your Data Entry Services in 2025

Are you still confused about where to outsource your Data Entry Services in 2025? You are not the only one puzzled. There are multiple customers who seek data for making decisions or preparing winning strategies. And many of them have data, but their core activities or in capacities...

Best HDHub4u Movies Alternatives in 2025

A large portion of the movie-loving public searching for the term HDHub4u movies had developed, along with their affection for the craft, a suspicion that using such a platform came with certain hazards. They had evidently become increasingly wary of the risks associated with using HDHub4u, given...

How to Watch Hulu on Amazon Firestick: A Complete User Guide

Watch Hulu on Amazon Firestick and entertain a wide library of on-demand videos, well-liked shows, movies, live sports, and many more. Enjoying this content on the big screen or any display that is fits, is made easy with the Amazon Firestick TV device. This guide will get...

HDHub4u: Free Bollywood Movies 2025: Latest Updates & Risks

Right now when the people don’t have to dig into the web back and forth looking for Free Bollywood Movies, one name will constantly be around: HDHub4u. This platform has established itself as a destination of choice for movie enthusiasts who are eager to see the latest...

Outsourcing or In-House Data Management? What to Know Before You Delegate Your Data Tasks

To assure the reliability, confidentiality, and accessibility of vital corporate information, in-house data management is crucial. This makes it possible for organisations to make more informed judgements. Accurate and timely information is essential in a data-driven business environment. Undoubtedly, it aids in the development of new goods...

How to Download Videos Online? Alternative Ways

In 2025, many users have a common need to download videos online. Whether you want to save tutorials, entertainment clips, or educational content to your device, it's essential to know how to do it safely and efficiently. This article covers that very topic. Here are the most...

How to Boost Local Business Through Instagram

Instagram offers several exciting ways to Boost Local Business Through Instagram. However, when it comes to growing a large community of followers, the process takes a lot of your time. Getting success on Instagram is not as simple as counting the number of followers and creating unique...

Building a Rock-Solid PHP Database Class 2025: The Ultimate Guide

PHP is still going strong being the heart of web development, everything from trivial blogs to huge enterprise systems. At the core of most PHP applications is a database, the connection between your code and your data. Today, we are going to build a thorough but clean...

10 Best Techniques to Improve Business Communication

Which business communication strategies are important for a company? Effective communication involves more than just exchanging ideas. It necessitates paying alert to tone, demeanor, and other factors that affect communication. Continuous focus and practice are necessary for effective business communication.  Acquiring an understanding of good communication techniques can...

Top 9 Best logo maker apps You Should Use

We have compiled the best logo maker apps, websites, and software after years of experience in marketing and advertising. Regardless of whether you are a skilled designer or not, the best tools, in my opinion, simplify the design process and enable you to create polished logos for...

How Can QuickBooks Cloud Hosting Benefits Your Business?

As enterprises persist in steering through a progressively digital economy, accounting solutions have expanded from basic desktop programs to potent, cloud-based ecosystems. Among the most substantial moves in this arena is the shift toward "QuickBooks Cloud Hosting is a a model that marries the solid muscle of...