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2023 New Jersey Women Business Leaders Forum REGISTER

Nearly 79% of the nation’s small business owners say they are concerned about the threat of a Russian cyberattack, according to new survey data released by NJBIA member Provident Bank this week.

Looking to the next 12 months, three in 10 survey respondents said it is “very likely” their business will experience a cyberattack or cybersecurity breach, compared to just 11% who said it was not likely at all.

Seven in 10 small business owners said that addressing a cyberattack or breach was part of their business continuity plan. However, just half said they are actually fully prepared to face a cyberattack on their organization. Additionally, half said that the threat of a cyberattack is something they think about nearly every day.

Businesses reported that over the past 12 months, malicious cyber activity has contributed to increased IT costs, reputational damage, intellectual property loss and lost productivity, among other things.

To see the full survey report, click here.