Many small businesses today operate under the assumption that they are not a target for any form of cyber attacks due to their size or the perception they don't have anything of value. In a study of 855 data breaches, however, it was found that 71% of these attacks were against companies of less than 100 employees. Hackers intentionally target small businesses because they don't have the resources to defend themselves. Credit card details, customer information, and intellectual property are all targets.
What's the average cost of a hack?
The National Small Business Association measures the average cost of a hack to be about $9,000, but other sources report the average cost to be about $130 per customer. Cost of a remedy aside, the worst case scenario of having to shut the doors of the company is a real possibility, as was the case with Code Space. At the time of the DDoS attack, Code Space only had 6 employees. When polled, however, 77% of small businesses maintain they're safe from cyber attacks. As more small business migrate their business critical and architecture applications to the cloud, the opportunity for hackers continues to increase.