One study of small businesses found that 40% of attacks in the US cost the victim business $25,000 or more.(1) 
According to IBM, a data breach costs an organization with less than 500 employees $3.31 million on average.(2) IBM also reports that small- and medium-sized businesses that experience data breaches are seeing their associated costs increase year over year. In fact, 57% of organizations had to increase prices to absorb the high costs. 

1 Hiscox Cyber Readiness Report 2022 2 IBM Cost of a Data Breach Report 2023

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