Ransomware doesn’t care how small your business is. One infected email, one weak link, and your...
A recent U.S. Chamber of Commerce and MetLife Small Business Index survey for Q1 2024 highlights that small businesses view cyberattacks as their top threat, with 60% expressing significant concern over cybersecurity risks like phishing, malware, and ransomware. Other major concerns include supply chain disruptions (58%) and another potential pandemic (54%), while fewer worry about natural disasters, theft, or terrorism. Despite these fears, small businesses are taking proactive steps, with 48% training staff on cybersecurity, 62% establishing or contributing to rainy-day funds, and 35% strengthening supply chains, though only 43% have formalized threat response plans. Notably, professional services firms and businesses with 20-500 employees report higher concern and preparedness compared to manufacturing or retail sectors.The survey, conducted between January 26 and February 12, 2024, also reveals that 73% of small businesses feel prepared for cyberattacks, with 23% feeling very prepared and 50% somewhat prepared. However, 27% of small businesses indicate they are just one disaster away from closure, underscoring their vulnerability. Economic pressures like inflation, cited by 52% as a leading worry, further complicate their ability to invest in robust defenses. Despite these challenges, small businesses are increasingly recognizing the need for cybersecurity measures, with many leveraging training, financial reserves, and supplier relationships to bolster resilience against an evolving threat landscape.
