More than Half a Million Businesses Could Shut Down in 2017 Thanks to Cyber-Attacks!

2017 Predictions from The Business Journals Annual Market Report have professionals getting serious about cyber security Every year, The Business Journals publishes a ‘predictions report’ that provides data on growth industries, locations and the trending topics that are buzzing on the business scene. As a long-tenured and well-respected publication with a readership spanning the entire […]

2017 Predictions from The Business Journals Annual Market Report have professionals getting serious about cyber security

Every year, The Business Journals publishes a ‘predictions report’ that provides data on growth industries, locations and the trending topics that are buzzing on the business scene. As a long-tenured and well-respected publication with a readership spanning the entire country, strategic business professionals often look to the annual predictions report by The Business Journals to prepare themselves for new or evolving industry challenges. The full report can be downloaded by visiting: www.go.bizjournals.com/smbinsights/2017predictions.

This year’s report has a particularly important section that is making business professionals take a second look. The report claims that it’s not only big chains like Target or Wendy’s that are being victims of cyber attacks and that mid to small-sized businesses (SMBs) are becoming a larger target for cybercriminals across the globe. In fact, their report claims that up to 43% of all cyber-attacks target SMB’s. The report also notes also shares survey research that demonstrates an increased concern among business owners and an increased desire to make cyber-security a priority.

The report goes on to cite that 12% of SMBs will be the victim of a cyber-attack in 2017. Of those impacted, up to 60% will be forced to close their doors within six months of the data breach, with an estimated 550,124 business closures in 2017 alone! These statistics are staggering and understandably, they’ve left many business owners on high alert. The majority of SMBs do not have in-house cyber-security experts and often professionals are hesitant about the cost of outsourcing. However, The Business Journals report notes that the average cost to bounce back from a cyber-attack is roughly $36,000. For many business professionals, the choice to proactively invest in technology support is the smartest way to be prepared and avoid potentially disastrous recovery costs.

CITOC has over two decades of experience helping Houston SMBs adapt to an increasingly hostile cyber environment. “No matter the size of the company or the nature of the business, every professional organization needs to be in the know about cyber security. We’ve seen it all.” CITOC CEO, BJ Farmer says. “The stats and stories can be intimidating, but getting informed about cybersecurity and staying vigilant doesn’t need to be overwhelming. It’s all about matching the right solutions to meet the unique needs of each business. Our team is committed to understanding the needs of every client and implementing back-up and security solutions that take the stress out of staying protected. We’re passionate about keeping small-business owners armed against cyber criminals with custom-tailored, enterprise-level security solutions.”

If you’d like to connect your business-minded audience with more information about the increasing prevalence and severity of cybercrime on the business landscape and how businesses can get and stay protected, please don’t hesitate to contact CITOC CEO BJ Farmer for more information.

BJ Farmer, CEO – CITOC
(713) 490-5000 – bfarmer@citoc.com
www.citoc.com

ABOUT CITOC

CITOC has been proudly serving Houston businesses since 1995, providing expert IT and IT consulting services to their clients. Acting like a complete IT department for your business, CITOC offers fully customized services at a fixed cost, including virtual CIO (Chief Information Officer) services, proactive maintenance of your IT systems, top-notch security services, and 24/7 helpdesk services.

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