Cyber attacks aren’t just targeting big business
81% of small business owners believe cyber security is a concern for their business, with 94% stating they frequently or occasionally think about cyber security issues.
The Endurance survey also found that 31% of small businesses have experienced a cyber-attack or attempted cyber attack. However, despite these concerns, less than half (42%) of survey respondents have invested resources in cyber security protection in the last year.
Additionally, the survey found that 70% of small business owners do not believe the federal government is doing enough to combat cyber-attacks and an overwhelming majority (83%) would support federal tax incentives or grants to small businesses that invest in cyber security measures.
“Cyber-attacks aren’t just about targeting big business,” said Endurance CEO and Founder Hari Ravichandran. “From phishing emails to social engineering schemes, small business owners need to be on high alert as hackers find new and creative ways to infiltrate their businesses. Our survey shows that small business owners may not be equipped to handle these new challenges. In our current environment, it’s not a question of if your business will be targeted, but when. This should be a wake-up call to both lawmakers and the small business community that we must remain vigilant in protecting against these cyber-threats.”
Of the small businesses surveyed, all of which have web presence solutions from Endurance, 95% responded that they do not have cyber security insurance. Additionally, a majority (83%) of small business owners handle their own cyber security matters, such as email, financial and transactional security, and do not have IT staff or utilize an outside resource.
Endurance conducted its survey of 1,016 of its U.S.-based small businesses from April 24 to 28, 2015. For purposes of this survey, small businesses are defined as employing 10 or fewer people on either a full-time or part-time basis.