Small Businesses, Big Troubles from Cyber Attacks and BC Neglect
When it comes to preparedness, the outlook isn’t good for small businesses, who find themselves at particular risk from both cyber attacks and general business continuity neglect, according to two recent sets of research.
Just 27% of small businesses have a continuity plan in place, according to research from Databarracks — compared to about 68% for medium sized businesses and 73% for large ones. Even more alarming: most of those small businesses haven’t tested their plans in the last year, and may not test them in the year to come!
Only 28% of the organizations who hadn’t tested their plans said that they were confident about them. Compare that to the 58% who had tested them and said they were “very confident”.
The researchers suggested that for some companies — particularly smaller companies that may not have the time or means to invest in a continuity and recovery program — it may take a substantial data loss to change their way of thinking.
That may be likely, according to additional research that says 71% of cyber attacks are targeted at small businesses. A Verizon Data Breach Investigations Study showed that in 855 data breaches examined, 71% occurred in businesses with fewer than 100 employees, and that number is rising.
For small businesses, the message can’t be any clearer: it’s time to step up their preparedness and recovery plans!