Cyber-attacks are a growing threat for small businesses and the U. S. economy.
According to the FBI’s Internet Crime Report, the cost of cybercrimes reached $ 2. 7 billion in 2020 alone.
Small businesses are attractive targets because they have information that cybercriminals want,
and they typically lack the security infrastructure of larger businesses.
According to a recent SBA survey, 88% of small business owners felt their business was vulnerable to a cyber-attack.
Yet many businesses can’t afford professional IT solutions, have limited time to devote to cybersecurity, or they don’t know where to begin.
The Consolidated Appropriations Act, 2021, authorized the US Small Business Administration to make grants to States, and the equivalent thereof, to carry out projects that help new small business concerns with tools to combat cybersecurity threats during their formative and most vulnerable years.