60% of small businesses are concerned about cybersecurity threats

According to a recent poll by the US Chamber of Commerce, 60% of small businesses are concerned about cybersecurity threats, and 58% are concerned about a supply chain breakdown.

Not surprisingly, small businesses in the professional services sector feel significantly more concerned about cybersecurity threats than those in manufacturing or services, but the poll explains that they also feel more prepared to handle them.

“The small businesses most concerned about cybersecurity threats include businesses with 20-500 employees (74%) and businesses in the professional services industry (71%). On the other hand, small businesses that are least likely to say they are prepared for cyber threats include businesses in the manufacturing sector (61%), female-owned businesses (68%), and businesses in average health (64%).”

Services businesses are right to be concerned. The most serious cyberthreat faced by organizations is ransomware, and on any given month, in almost any country, the services sector is the one hardest hit by ransomware.

However, while the services sector suffers more attacks than manufacturing, the difference has been steadily narrowing, so that it is almost insignificant

Known ransomware attacks by industry sector, February 2024
Known ransomware attacks by industry sector, February 2024

Small businesses are not sitting on their hands though. 49% say they have trained staff on cybersecurity measures in the past year, 23% think they are “very prepared” to handle cyberthreats, and 50% feel “somewhat prepared.”

It’s no surprise that small businesses are concerned—they have limited resources, and yet they need to be ready to fight off the same sophisticated criminal gangs as the biggest enterprises.

And, as you can read in our 2024 State of Malware report, cybercriminals continue to evolve their tactics. They like to use social engineering, and vulnerabilities in internet-connected devices and services, rather than old-fashioned malware to infiltrate systems and networks. And once they’ve broken in to a company network, they are increasingly turning to legitimate tools instead of malware to carry out their attacks, a tactic known as living-off-the-land (LOTL)

This requires a different approach and security solutions capable of dealing with these threats.

We don’t just report on threats—we block and remove them.

ThreatDown can help small business to be secure. Choose the ThreatDown bundle that’s right for your organization.