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Many SMBs mistakenly believe they are too small to be hacked

cybersecurity
(Image credit: Image source: Shutterstock/deepadesigns)

If you think your business is too small to attract the interest of cybercriminals, you're mistaken. According to a new report from Sectigo, not only are small and medium-sized businesses interesting to criminals, but are targeted frequently and with relative success.

Based on a survey of 1,167 website security-decision makers at companies with fewer than 500 employees, the report states that almost half think they are too small to be targeted. Further, almost three quarters (73 percent) believe they are effective at mitigating risk.

Despite these findings, half of the respondents said they have suffered a data breach at some point, with 20 percent saying they have been breached in the past 12 months. Almost half said their website gets attacked at least once a month, if not more frequently, with criminals often opting for malware injections, data breaches and brute force login attempts.

More than half of SMBs that recently experienced a breach feel vulnerable to an attack, compared to less than a third (30 percent) of those who had not.

All businesses, the report concludes, have been negatively impacted by a breach, with almost a third saying the consequences were severe.

“No business is too small a target. Attacks continue to evolve, and hackers are increasingly resourceful, making it critical for SMBs to invest in multi-layered solutions that stay ahead of ever-changing threats,“ said Michael Fowler, President of Partners and Channels at Sectigo.