Small Biz Statistics Prove the Need or Quality IT Support

When it comes to cybersecurity and cyberattacks, it can be tough to separate the wheat from the chafe. How much of what we hear are legitimate security concerns and how much are scare tactics designed to compel us to improve our IT support with flashy, expensive services. You can’t take any chances when your network is at stake, but you also don’t want to be taken advantage of. Here’s some guidance to ensure you are protected, in more ways than one.

Numbers Don’t Lie

To truly get to the heart of IT security and managed network services, look past the security horror stories and explore the numbers. According to statics from a recent Small Business Trends report:

• 55% of responding companies reported having experienced a cyber attack sometime during 2015 and 2016.
• 50% claimed that during the same period, they also suffered data breaches with customer and employee data.

• Respondents spent an average of nearly $900,000 on IT asset damage repair and related data recovery.

• The related cost of disruptions to daily operations cost businesses in excess of $955,000 on average.

That means a security breach in a small-to-mid-sized business can cost nearly 2 million dollars just to repair and recover your losses. And, while 58% of small businesses state they are very concerned about cyber attacks, more than half have not allocated any budget to risk mitigation or quality IT support.

Highest Risk Factors

Statistics from the same Small Business Trends survey reveal the root source of breaches, further reiteration the need for quality IT support. The primary cause of data breaches experienced by responding businesses came from a negligent employee or contractor (48%), followed by third-party mistakes at 41%. These numbers prove not only that you need proper security protocols in place, but also the importance of working with a reputable and trustworthy vendor.