Why SMEs Are Just As Vulnerable To Cyberattacks As Large Businesses

 

It is not only big businesses that suffer the most cyberattacks, small & medium sized businesses are just as vulnerable. Cybersecurity in New York for SME’s is a hot topic in 2021 especially with the increasing number of security breaches.

What makes SMEs vulnerable to cyberattacks?

While many small and medium-sized businesses comprehend the cyberthreat and spend what is required to safeguard themselves, others stay behind. They don’t think it could occur to them, have other primacies or assume they’ve all the protection they require.

Nearly half of small and medium-sized enterprises plan to spend big on cybersecurity in 2021, but more worryingly, a quarter don’t know how much they’ll spend, or if they’ll spend at all.

SMBsusually hold data on behalf of larger organizations, which cyber attackers take advantage of small and medium-sized businesses offer services as varied as M&A consultancy, health care, and debt collection, all of which entails they hold commercially sensitive data, which if come in the wrong hands, could form the foundation of a ransomware demand to their customers.

What cyberattack often results in?

 Cyberattack results in significant financial impact for SMBs. However, it is likely the actual cost will be much higher if the full impact – loss of business, reputation damage and time taken to recuperate is considered. It can take weeks and often months to recover from a cyberattack.

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