"Data Breach Causes 10 Percent of Small Businesses to Shutter"

Data breaches have significantly impacted small businesses as some have been forced to file for bankruptcy or shut down. According to a report released by the National Cyber Security Alliance pertaining to a survey to which 1,008 small businesses with up to 500 employees responded, 10 percent of small businesses that have experienced a data breach went out of businesses, while 25 percent went bankrupt and 37 percent suffered a financial loss. Business leaders have expressed their awareness surrounding the possible targeting of their businesses by cybercriminals and the importance of improving their cybersecurity. However, the level of concern for cybersecurity dropped when it came to smaller businesses. This article continues to discuss key findings of the report in relation to the impact that data breaches have had on small businesses, the awareness surrounding cybersecurity among such businesses, and how prepared these businesses are to respond to data breaches or other cybersecurity incidents. 

SC Magazine reports "Data Breach Causes 10 Percent of Small Businesses to Shutter"