TWT Blog

40% of small businesses have been victims of cyber attacks


A new report shows that small business owners might not be prepared for a hacker attack.

According to a survey conducted by the U.S. National Small Business Association, more than 40 percent of small businesses — including some in Calgary and Western Canada — say they have been the victims of a cyber attack. These attacks have cost them thousands of dollars.

The 2013 Small Business Survey interviewed 800 small business owners. The survey revealed the average cost of a cyber attack against a company was nearly $9,000. When it came to a hacking of the company’s business bank account, the average loss was nearly $7,000.

“Exacerbating the cybersecurity issue for small firms is the fact that business checking accounts are NOT protected when it comes to online hacking, unlike consumer accounts. The majority of small firms, 75 percent, aren’t even aware of this,” the report says.

Interconnected Costs

In addition to the monetary cost that arises from computer hacking, these incidents also take up employee time, resulting in the loss of even more money. While large businesses possess the financial framework to absorb such costs, the loss of revenue and employee time may prove markedly detrimental to small organizations.

Experience Matters

Many of our staff carry Global Information Assurance Certification. Find out more about our Managed Security services here.

What can you do?

As a trusted technology adviser, we work with business owners to educate them about how to mitigate and remove risks. Our expertise and experience become integral parts of your business, so that you don’t have to worry about it.

Contact TWT Group today to discuss your Calgary IT security and support needs.

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Topics: Security, Calgary