PAYCHEX: 60% Of Hacked SMBs Are Out Of Business 6 Months Later



Paychex wrote a great article about the urgency of creating a cyber security culture in your business. This is excellent ammo to send to your C-level execs:

"Creating a cyber security culture in your business involves more than providing tools like firewalls and virus protection software. Experts uniformly agree that educating employees about the threats of data breaches and cyber theft is a critical step in protecting your company's invaluable data.

But while most small businesses understand the need for a comprehensive data security program, many still believe hackers are only interested in going after big companies, and therefore may not take all the precautions that they should.

In fact, statistics compiled by the National Cyber Security Alliance paint a disturbing portrait of small business vulnerability:

  1. Almost 50 percent of small businesses have experienced a cyber attack.
  2. More than 70 percent of attacks target small businesses.
  3. More than 75 percent of employees leave their computers unsecured.
  4. As much as 60 percent of hacked small and medium-sized businesses go out of business after six months.

A breach or attack can result in a significant loss of income, particularly if the small business involved lacks cyber liability insurance. If news of the breach goes public, the damage to the business's brand may be insurmountable.

Leaving your business data exposed to cyber attacks is simply too great a risk to ignore. The best defensive strategy is creating a cyber security culture in the workplace that greatly tips the odds of success in your favor. They recommend to start with training. See more at:
http://www.paychex.com/articles/human-resources/creating-cyber-security-culture

[UPDATE 5/29/2017]:  Turns out this 60% statistic is false and not based on an underlying study. 

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Topics: Hacking

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