The vast majority of small business owners believed that a cyberattack could have several financial consequences for their business, and most have a plan in place to respond to such an attack, according to a new survey by Tri Counties Bank in California.
The survey found 87% of small business owners believe a cyberattack could have severe financial consequences, with 84% believing it could damage their customer relationships. Nearly three in four (72%) owners consider malware or malicious software to be of greatest concern. About 15% reported experiencing a cyberattack within the past three years.
At the same time, 73% of small business owners said they have a plan in place to respond to a cyberattack if they were to experience one, according to Tri Counties Bank. Cybersecurity measures taken by small businesses include regular software updates (59%), the required use of strong passwords (59%), and technical network security protocols, such as firewalls and VPNs. (52%).
