The Cost of Cybersecurity for Small Businesses (SMBs)
In today's digital world, cybersecurity is no longer optional, even for small businesses. Nearly 43% of cyberattacks are aimed at small businesses. We break down the real costs and how to protect your business affordably.
In today's digital world, cybersecurity is no longer optional, even for small businesses. Cyber threats are evolving, and small businesses are increasingly becoming prime targets for cybercriminals. According to industry reports, nearly 43% of cyberattacks are aimed at small businesses.
Understanding the Costs of Cybersecurity
- Basic Security Tools and Software – Antivirus: $50–$300/year; Firewalls: $100–$1,000; VPN: $5–$15/user/month.
- Cybersecurity Training for Employees – $20–$200 per employee per year.
- Cybersecurity Insurance – Policies range from $500 to $5,000 annually.
- IT Security Services – Basic: $50–$200/month per user; Advanced 24/7 monitoring: $500–$2,000/month.
- Compliance and Regulatory Costs – HIPAA, GDPR, PCI-DSS compliance: $5,000 to $50,000.
Is Cybersecurity Worth the Investment?
The average cost of a data breach for a small business is around $120k–$250k (IBM's 2024 Cost of a Data Breach Report). Investing in cybersecurity is far more cost-effective than dealing with the aftermath of an attack.
Partner with INFOWATCH LLC today and fortify your business against evolving cyber threats.