Mastercard survey: One in four SMEs fears closure in the event of a hacker attack

A quarter of companies in Europe have already been victims of cyber attacks. According to a new survey by payment service provider Mastercard (https://www.mastercard.com), Ireland (38 percent), Denmark (35 percent) and France (29 percent) have particularly high rates. The survey covered 1,800 small and medium-sized enterprises (SMEs).

Massive threat

Despite the increasing threats, 47 percent of the companies surveyed say they are unsure how to deal with cyber threats. Eleven percent of those surveyed have suffered financial losses as a result of fraud; nine percent have even lost customers.

Many European SMEs are cautious about the future: 49 per cent say they are reluctant to expand their business due to concerns about cyber attacks. In addition, one in four SMEs fears that they will have to cease trading in the event of a successful attack.

Gen Z extremely uncertain

36 per cent of Gen Z entrepreneurs surveyed think about potential attacks every day, compared to 27 per cent of millennials and 25 per cent of baby boomers. 61 per cent of Gen Z see IT risks as a major obstacle to business growth.