Ireland will see its SMEs slashing their average cybersecurity budget to €57,500 in 2023 from €117,209 in 2022, according to a survey of 200 small business owners conducted by Censuswide and commissioned by Typetec. The survey further revealed that some of the common cyberattacks witnessed during 2022 were password hacking (32%), Phishing (31%), malware (27%), and employee negligence/insider attacks (23%). Meanwhile, SME owners are also worried about the impacts that cyberattacks can cause, with 40% fearing going out of business. The other significant concerns about the potential effects of cyberattacks include fear of significant business downtime, reputational damage, and loss of customers, among others.
