Many small businesses have turned to online sales in recent years, even more so during the pandemic. While an online storefront can help you reach more customers, it can also leave your business vulnerable to cyberattacks.
Cybercrime hits small businesses hard. CFIB research has found that between March and October 2020:
- almost one sixth of small businesses reported having experienced attempted cyberfraud; and
- one in twenty small businesses fell victim to cyberattacks
This translates to about 61,000 Canadian businesses who fell prey to cybercrime!
In 2018, Canadians made over to $57 billion worth of purchases over the Internet – up from just shy of $20 million in 2012. As online business continues to grow, the potential for being victimized by cyber-crime also increases.