Post by cjm on Sept 29, 2019 8:33:41 GMT
Data breaches not only hurt consumers, but are an expensive nightmare for small businesses, a new study reports.
“Twenty-one percent of small businesses reported a data breach within the last 24 months, up by 17% from two years ago. A full 41% of small businesses said they were hit by a breach that cost them more than $50,000 to recover,” according to the Bank of America Merchant Services Third Annual Small Business Spotlight.
These continuing breaches could threaten the survival of the average small business, the study found. That’s because “30% of consumers surveyed revealed they would never return to a small business that suffered a breach, up from 20% two years ago.”
“Twenty-one percent of small businesses reported a data breach within the last 24 months, up by 17% from two years ago. A full 41% of small businesses said they were hit by a breach that cost them more than $50,000 to recover,” according to the Bank of America Merchant Services Third Annual Small Business Spotlight.
These continuing breaches could threaten the survival of the average small business, the study found. That’s because “30% of consumers surveyed revealed they would never return to a small business that suffered a breach, up from 20% two years ago.”