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“We are too small to suffer a cyber attack”

In the ever-evolving landscape of digital connectivity, the misconception that small and medium enterprises (SMEs) are impervious to cyber attacks is not only perilous but contradicted by a growing body of evidence.


Despite their size, SMEs are increasingly targeted by cybercriminals, who see them as "low hanging fruit" due to perceived vulnerabilities.


This article aims to dispel the fallacy that organisational size provides immunity, highlighting the imperative for businesses, regardless of scale, to fortify their cyber defenses.


The Rising Threat Landscape


The surge in cyber attacks against SMEs in 2023 , reflected in a notable 143% increase, underscores the alarming trend. In fact, 72 % of cyber attacks target small businesses, dispelling any notion of immunity.


Why? SMEs are often viewed as easy targets due to weaknesses in their cybersecurity measures, allocating a tiny portion of their budget to cybersecurity, if at all. Compounding the issue, a significant number of SMEs operate without a dedicated cybersecurity team, leaving them wide open to potential breaches.


Financial Ruin


Often operating without cyber insurance, the aftermath can be financially crippling for SMEs. Relative to their revenue, the average cost of a cyber attack breach for an SME is substantial, underscoring the magnitude of the potential consequences.


Notably, 60% of SMEs that fall victim to a cyber-attack face the grim reality of going out of business within six months due to the associated financial burdens.


The Importance of preparation


The looming threat of cyber attacks is pivotal for all organisations, irrespective of their size. A cyber incident management team and a regularly tested incident response plan is critical in order to recover efficiently from an attack.


Melix Security specialises in collaborating with organisations to develop and implement these vital components. If you're seeking effective cybersecurity solutions, feel free to reach out to us. Your organisation's security is our priority.

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