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 Worldwide is an organization designed exclusively for high-integrity CEOs and executive leaders who are looking to drive better decisions and better results for their companies. Our members — 21,000 strong in more than 20 countries — gather in trusted, confidential peer advisory groups where they tackle their toughest challenges and biggest opportunities. Leveraging the Vistage platform, our members have demonstrated the ability to refine their instincts, improve their judgment, expand their perspectives and optimize decision making. CEOs who joined Vistage grew their companies at three times the rate of the average U.S. company, according to a 2015 analysis of Dun & Bradstreet data. Learn more at vistage.com.

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