Why You Need to Care
The U.S National Cyber Security Alliance found that 60% of small companies are out of business within six months of a cyberattack. According to the Ponemon Institute, the average price for small businesses to investigate, remediate and compensate victims after their businesses have been hacked now costs $690,000. The cost for middle market companies is over $1 million and large companies $4 million.
Small and midsized businesses are increasingly the target of cyber attacks because they are easier targets with less sophisticated defenses. IBM estimates that approximately 4,000 cyber attacks per day are directed at small and midsize businesses.