The True Cost of a Data Breach for Small Businesses
Why Small Businesses Can’t Afford a Breach
Many owners assume cybercriminals only go after large corporations. The truth? 43% of cyberattacks target small businesses (Verizon DBIR). The cost isn’t just financial — it’s reputational, operational, and often devastating.
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With the right Cybersecurity & Compliance Services, you can safeguard sensitive data, avoid regulatory fines, and protect customer trust.
The Average Financial Cost of a Data Breach
What the Numbers Show
The average cost of a data breach in 2023 was $4.45 million (IBM Cost of a Data Breach Report).
For small businesses, direct costs range from $120,000 to $1.24 million (Ponemon Institute).
60% of SMBs close within six months of a cyberattack (National Cybersecurity Alliance).
Where the Money Goes
Incident response and recovery efforts
Regulatory fines and penalties
Customer notification and credit monitoring
Legal fees and settlements
Downtime: The Hidden Cost
Why Downtime is Worse Than the Breach
A ransomware attack doesn’t just steal data — it halts operations. SMBs experience an average of 23 days of downtime after a serious attack (Coveware Report).
Impact on Small Businesses
Employees unable to work
Orders delayed or lost
Customers turning to competitors
Permanent reputational damage
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Compliance Violations and Legal Risks
Industries Hit Hardest
Healthcare, finance, and legal industries face strict requirements like HIPAA, PCI DSS, and SOC 2. A single breach can trigger six-figure fines.
Examples of Penalties
HIPAA violations: $100–$50,000 per incident (HHS Enforcement).
PCI DSS non-compliance fines: $5,000–$100,000 per month (PCI Security Standards Council).
👉 Learn more about Compliance Readiness Services.
Reputational Damage: The Long-Term Cost
Why Trust is Priceless
Even if you recover financially, the loss of customer trust can sink a business. 81% of consumers say they would stop engaging with a brand online after a breach (Ping Identity Report).
Small Business Impact
Unlike global corporations, SMBs don’t have PR teams or marketing budgets to repair their image. A breach can permanently damage client relationships.
Prevention: The Smarter Investment
Prevention: The Smarter Investment
Implement firewall and network security
Use endpoint detection & response (EDR)
Enable multi-factor authentication (MFA) and single sign-on (SSO)
Train employees to recognize phishing attempts
Partner with a managed provider for 24/7 monitoring and threat detection
Why Managed Security Works
Instead of piecing together tools, a managed IT partner like BCT delivers integrated cybersecurity and compliance services tailored to small business needs.
👉 Explore Threat Detection & Response for proactive protection.
Why BCT is the Best Choice for Small Business Security
Local Expertise, Enterprise-Grade Security
At Business Computer Technicians (BCT), we specialize in protecting small and mid-sized businesses against evolving cyber threats. With offices in Seattle and Charlotte, we combine local accountability with enterprise-level protection.
Services That Protect You
Security Operations Center (SOC) monitoring
24/7 incident response
Compliance support for HIPAA, PCI DSS, SOC 2, and NIST
Business continuity planning to minimize downtime
👉 Start protecting your business today with a Free IT Review.
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