The Cost of a Security Breach Could Be Closure

The Cost of a Security Breach Could Be Closure

Security breaches stink.

At best, a malware or virus attack is a nuisance and a time-sucker, because – if it hits your business – your employees will be forced to spend their time dealing with endless pop-up ads, slowed-down systems and probably computer crashes.

At worst, a company can lose precious data or experience outages that drag on for days, and even weeks, while IT experts work (often in vain) to recover records, files, account info, content, etc. Your business can be effectively shut down – unable to function – until everything can be restored or reconstructed.

Here’s where the statistics get ugly, and, although they vary somewhat from source to source, they convey a sad story.

Research shows that companies that experience an outage lasting more than 10 days will never fully recover, being burdened with financial challenges that are difficult, in some case even impossible, to overcome.

The National Cyber Security Alliance indicates 60% of small firms go out of business within six months of a breach. 25% will never reopen after a major data loss. And 70% of small firms that experience a major data loss will go out of business in a year.

Even more sobering: 85% of all breaches happen to small businesses. And 32% of all organizations have reported that they’ve been the victim of some form of cyber-crime.

Posted in Blog Posts, Security

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