Readiness to tackle cyberthreats has never been more critical to building a secure and resilient digital future for small businesses, according to Mastercard’s latest research on cybersecurity risks facing SMEs. The study was conducted across five countries worldwide among more than 5,000 small and medium business owners, including over 1,000 in the UAE.
Globally, the research has found that 46% of the SMEs surveyed have witnessed at least one cyberattack since their inception. Hacking and malware rank jointly as the most common forms of attack suffered by small businesses at 32% each, with phishing a close second at 31%.
Eighty percent of SMEs that have experienced an attack have had to spend time rebuilding trust with clients and partners after the event, and nearly one in five have had to file for bankruptcy (18%) or close their business (17%).
