“It’s not a matter of if your company will be hit, it’s a matter of when.”
That’s the motto the Better Business Bureau (BBB) is reiterating following their study into “the State of Cyber Security Among Small Businesses in North America.”
The study was conducted on the national level and provides an in-depth look in the advances of cyber security and cyber threats against the largest sector of contributors to the U.S. economy.
“One of the most eye-opening findings from this integral study is the fact that an alarming 50% of small businesses report they could remain profitable for only one month if they were attacked,” said Dennis Horton, director of the Rockford Regional Office of the BBB.
Some other key findings include over 90% of all business hacks begin with a phishing email, with 90% of phishing emails containing ransomware.
Only half of small business owners surveyed were aware that losses as a result of a cyber attack are not covered by the bank. Typically, cyber crime losses are the losses of the business owners.
For additional key findings, click here.