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Cybersecurity Tips for SMEs
Learnings from the EU-U.S. TTC Working Group on SME Access to and Use of Digital Tools Webinar on Cybersecurity Awareness

USEUTTC Cybersecurity

Security is a need in the digital, as much as in the physical world. Protecting critical capacities should not only be a concern for large companies, but it requires the attention of Small- and Medium-sized Enterprises (SMEs), too. The backbone of the European and American economies, SMEs are increasingly exposed to cyber-crimes with significant repercussions on both the EU and the U.S. markets. Of the European SMEs that the EU Agency for Cybersecurity (ENISA) surveyed in 2021, 90% stated that cybersecurity issues would have serious negative impacts on their business within a week of the issues happening, with 57% of them likely to become bankrupt or go out of business. In 2019, in the U.S. successful cyber breaches cost victimized companies $200,000 on average.

SMEs across the Atlantic need to be prepared against the risk of malicious cyber incidents. Based on the learnings from the EU-U.S. Trade and Technology Council (TTC) Working Group 9 webinar on cybersecurity, the following points serve as high-level guidance for SMEs to become more cyber-secure. 

For more insights on cybersecurity for SMEs, do not miss the recording of the webinar of the EU-U.S. Trade and Technology Council Working Group 9 on promoting access to and use of digital tools for SMEs!