AdvisorSmith Finds 42% of Small Businesses Affected by Cyberattacks in Past Year

NEW YORK - Oct. 28, 2021 - PRLog -- AdvisorSmith, a leading resource on small business and economic content, released a study today on small business cyberattacks and cybersecurity.

AdvisorSmith conducted a survey of 1,122 small business owners and managers to understand their experiences with cyberattacks and how their businesses are preparing for cyber threats. The margin of error for this survey was less than or equal to 3%.

The study focused on the types and frequency of cyberattacks that small businesses faced in the last year, what small businesses are doing to prepare for cyberattacks, and how small businesses feel about their cybersecurity in the next year.

Key Findings

• 41.8% of small businesses experienced a cyberattack in the last year, with 23.7% of those being phishing attacks, 18.6% data breaches, and 11.3% ransomware attacks.
• 69.2% of small business owners were concerned about being the victim of a cyberattack in the next 12 months, with younger business owners being 1.8x more likely to be concerned than their older counterparts.
• 72.0% of small businesses have implemented cybersecurity measures, with 21.3% of those being strong password policies, 20.4% implementing multi-factor authentication, and 9.4% hiring a cybersecurity consultant.
• 1 in 2 small businesses purchasing or planning to purchase cyber insurance, with younger business owners 3x more likely to secure cyber insurance than older business owners.

To view the complete study, visit: https://advisorsmith.com/data/small-business-cybersecurit...

About AdvisorSmith

AdvisorSmith is a leading information resource for small business owners. AdvisorSmith empowers small businesses with original research and insights into trends to help them succeed. For more information, go to https://advisorsmith.com or follow us on Twitter @AdvisorSmithInc.

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