Answer:
The consequences can be financially and operationally devastating. On average, a cyberattack costs an SMB over $25,000, but in many cases, the damage goes far beyond the immediate financial loss. Ransomware attacks, for example, have caused 75% of affected small businesses to suffer significant operational disruption—halting work, losing customer trust, and delaying services.
Worryingly, over 60% of small businesses go out of business within six months of suffering a major cyber incident. For many, a single attack can spell the end of operations. The reputational damage, legal fallout, and data loss can be too much to recover from.