83% of SMB owners have no cash put aside to deal with the fallout from a cyber attack

A new InsuranceBee survey, which asked over 1,000 SMBs how prepared they are to deal with cybercrime, shows that small businesses are leaving themselves exposed to significant financial risk from cybercrime by not having adequate measures in place to recover in the event of a cyber attack.

Although the average cost for small and medium-sized businesses to recover from a cyber attack is estimated to be $120,000, 83% of SMBs do not have any money reserved to get back to business as usual should a breach occur. A quarter were unaware it would cost money to put things right.

Read more about the findings of the new survey on Help Net Security.