27 Oct 2011

Government tries to help small businesses with internet security

With internet security a big concern for small businesses, the federal government is trying to help them out, as the Federal Communications Commission announced plans to release an online tool to support businesses who have experienced cyber attacks.

“A recent study found that American small businesses lose billions annually to cyber-attacks. The cost of each individual cyber-attack to small and medium sized businesses averages about $200,000," Julius Genachowski, FCC Chairman said at a U.S. Chamber of Commerce event this week. "Contrast that with the Connected Nation study that projects $200,000 in increased annual revenue, and you see that failure to take cyber security seriously can potentially negate the benefits of being online.”

A survey by the National Cyber Security Alliance said 52 percent of small businesses have basic internet security packages. At the same time, the survey found 85 percent of owners thought they were safe from cyber attacks, according to The Small Business Blog on Boston.com

According to Reuters, former Homeland Security Secretary Michael Chertoff said a partnership between small business and the federal government working toward internet security is a good thing. He said not considering security is like leaving money lying out with no protection.