Small Business Ransomware: What You Need To Know
Veeam News, Wednesday, January 24th, 2024
It's a common misconception that small businesses do not get attacked by cybercriminals as often, but unfortunately, bad actors do not discriminate. According to Veeam's 2023 Data Protection Trends Report, 85% of ransomware attacks targeted small businesses.
The consequences of small business ransomware attacks are severe, and most small businesses can't operate during a ransomware attack. Many also don't have an incident response plan, and of those that did, nearly a third hadn't tested their plans in six months. A high percentage of small businesses also report having to pay the ransom to regain access to their data.
The high cost of recovering data along with business interruption costs means that up to 60% of small businesses fail after a successful cyberattack.