Foreign Cyber Threats: Small Business, Big Targets

The information technology, or IT, revolution has provided small businesses with new tools and opportunities to compete in the global economy. However, cybersecurity experts warn about the varied cyber threats facing America's 28 million small businesses. The Office of the National Counterintelligence Executive released a report in 2011 stating that tens of billions of dollars in trade secrets, intellectual property, and technology are being stolen each year from computer systems in the Federal Government, from corporations, and from academic institutions. China and Russia were cited as the two largest participants in cyber espionage. According to a recent report by Verizon Enterprise, over 70 percent of cyber attacks occurred in businesses with fewer than 100 employees. Even one cyber attack can be devastating for small businesses, making prevention and protection absolutely critical. A 2014 survey from the National Small Business Association estimated the average cost of a cyber attack on a small business to be over $32,000, a huge hit for a small business.

Author: Committee on Small Business United States House of Representatives|Committee on Small Business United State

Publisher: CreateSpace Independent Publishing Platform

Publication Date: May 06, 2017

Number of Pages: 68 pages

Language: English

Binding: Paperback

ISBN-10: 1546486550

ISBN-13: 9781546486558