CYBER THREAT INTEL: 1 in 5 Small Businesses Would Shut Down After a Cyberattack – Are You Prepared?

New research highlights a stark reality for small- and medium-sized enterprises (SMEs): a successful cyberattack could force nearly one in five businesses to close for good. Even a relatively small financial loss—under £8,000 ($10,000)—would be enough to push one-third of SMEs out of business, according to a new study from VikingCloud.

With cyber threats on the rise, cybersecurity (48%) is now the second-biggest concern for small business owners, just behind inflation and rising costs (67%). Recession fears (46%) also remain a major issue.

SMEs: The Prime Target for Cybercriminals

The research, which surveyed SME owners across North America, found that 60% recognize they are a primary target for cybercriminals. However, many remain dangerously exposed due to:

✅ DIY cybersecurity – Relying on self-management, family members, or untrained staff (74%)
✅ Outdated security technology – Running old or inadequate cyber protection (33%)
✅ No cybersecurity measures at all – 1 in 5 (20%) have no access to cyber protection

“SMEs are often the easiest targets for cybercriminals looking for a quick payday,” says Kevin Pierce, Chief Product Officer at VikingCloud. “Business owners increasingly understand the risk, but they’re stretched too thin to build a strong cybersecurity program. Our research shows that cybersecurity isn’t just an IT issue—it’s a business-critical factor that could determine whether SMEs stay open or shut down permanently.”

Protect Your SME Before It’s Too Late

Cyberattacks don’t just affect big corporations—small businesses face just as much, if not more, risk. The good news? Practical, cost-effective cybersecurity measures can dramatically reduce the risk.

At SME Cyber Insights, we break down actionable steps for small business owners to safeguard their operations, from choosing the right cybersecurity tools to training your team against scams and threats. 📌 Secure your business? Stay ahead with expert insights, the latest SME-focused cybersecurity updates, and practical guides at SMECyberInsights.co.uk.