COLORADO SPRINGS — Senator John Hickenlooper held a field hearing for the Senate Small Business Committee today in Colorado Springs. He and several other experts spoke on the opportunities and challenges facing small businesses with regard to cybersecurity.
Sen. Hickenlooper said, “Colorado Springs is one of the nation’s and global cybersecurity hubs.”
Experts say many small businesses are vulnerable to cyberattacks because they don’t have the resources to hire cybersecurity experts.
“To emphasize the need, Forbes magazine reported in 2021 Seventy percent of ransomware attacks alone were aimed at small businesses,” said Gretchen Bliss, UCCS Cybersecurity Program Director.
If these small businesses get hacked, it could be the beginning of the end for many.
Gartner Releases 2023 Cybersecurity Top Trends Report60% of small businesses hit by cyberattacks will go out of business within six months,” said Sean Murray, Ph.D., of the Information Security Systems Association.
Experts recommended finding more ways to educate small businesses about the importance of cybersecurity while encouraging federal funding.
They also talked about the cybersecurity insurance industry and how premiums can be expensive for some small businesses. Some cybersecurity researchers, such as Eric Huffman, also worry about a widening workforce gap.
“I’m optimistic, but we need more. We need more experts,” Huffman said. “More money is being made in cybercrime than drug crime.”
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