Could your small business stay profitable after a cyber attack? An online survey of 1,100 businesses in North America conducted by BBB indicates that half of all small businesses could not stay profitable for more than a month if they lost critical data.
The State of Small Business Cybersecurity, which can be downloaded at bbb.org/stateofcybersecurity, focuses on cybersecurity effectiveness. It examines cybersecurity frameworks and standards, best practices, and cost-benefit analyses. The report also found that BBB Accredited Businesses, which made up two-thirds of the participants of the survey, had marginally better awareness of specific threats and adoption of cybersecurity measures.
One of the key findings of the report is the importance of the National Institute of Standards and Technology (NIST) Cybersecurity Framework, which is the basis of BBB’s “5 Steps to Better Business Cybersecurity” training program. The NIST Framework, a voluntary standard, is becoming mandatory for some businesses. Companies often require it for vendors, but it also helps businesses run better.
The report found that although small businesses are aware of cybersecurity threats, they are not always taking the proper prevention measures, such as employee education. To read more about the report, please click here. To learn more about the BBB “5 Steps to Better Business Cybersecurity” training, visit bbb.org/cybersecurity.