03 Nov Cybersecurity Is Economic Security For Small Businesses
This week in cybersecurity from the editors at Cybercrime Magazine
Sausalito, Calif. – Nov. 3, 2026
Our connected digital economy—and the technology that powers it—has opened more opportunity for more people in more places than ever before, and is nothing short of revolutionary, writes Mastercard CEO Michael Miebach, in a recent TIME article. But he notes the revolution comes at a high cost. Cybercrime losses are equivalent to the third-largest economy in the world measured in GDP, behind only the U.S. and China, according to Cybersecurity Ventures.
Small businesses are the building blocks of economies worldwide, driving 70 percent of employment and accounting for half of global GDP. Yet, they are also often the least equipped and resourced to withstand a cyberattack. The broader economy feels the impact too, including the employees, suppliers, customers, and communities that depend on small businesses.
Recent Mastercard research found that only 37 percent of small business owners currently use cybersecurity tools, but 89 percent say they want to adopt more digital tools. The only question is whether our ability to protect small businesses and the broader online environment will stay ahead of evolving cyber threats. Miebach emphasizes that It’s our collective job to make sure it does.
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