Cyber Vulnerability is Top Concern for Small Business CEOs, according to Vistage Survey

SAN DIEGO (April 6, 2016) — Small business executives are not prepared for a cyber attack, according to a quarterly survey by Vistage Worldwide.

Vistage, a global organization which assembles and facilitates private advisory boards for CEOs, conducts a quarterly survey covering a variety of small business topics, and more than 40 percent of respondents answered “no” when asked if they feel prepared for a cyberattack.  The dependence on technology in an interconnected, global marketplace makes preparedness for cyber-attacks, such as hacking for customers’ personal data, a topic of importance among business owners.

“Security involves every aspect of your business,” said Dieter Gable, CEO of TB Consulting, cyber-security expert and Vistage member. “A breach can come from a malicious attack, human error, or a system glitch. In an age when hackers are becoming more and more sophisticated you must be prepared with a plan, security mindset, and proper employee training.”

Overall, small business executives feel optimistic about their business growth in next 12 months, with 70 percent anticipating increased revenues and 55 percent anticipating improved profitability.  Other notable survey findings include:

• Nearly one-third of survey respondents report that the most significant issue they are currently facing is staffing, including finding qualified candidates, hiring, retaining valuable staff members, and training.
• Despite the fact that millennials make up the majority of the current workforce, 50 percent of respondents do not have a plan in place to train millennials for leadership roles.

To review more survey results visit: https://www.vistage.com/press-center/vistage-ceo-survey/.

About Vistage Worldwide, Inc.
Vistage is the world’s largest CEO coaching and peer advisory organization for small and midsize businesses. For more than 65 years, we’ve been helping CEOs, business owners and key executives solve their greatest challenges through confidential peer groups and one-to-one executive coaching sessions. Today, more than 45,000 members in 35 countries rely on Vistage to help make better decisions for their companies, families and communities. The results prove it: Vistage CEO members grew their annual revenue on average by 4.6% in 2020, while nonmembers with comparable small and midsize businesses saw revenue decrease by 4.7%, according to a study of Dun & Bradstreet data. Learn more at vistage.com.

Media Contact
Katie McWeeney | Vistage
858.523.6875 | katie.mcweeney@vistage.com