A new global study by Mastercard reveals that small and medium enterprises (SMEs) are facing an increasing risk of cyberattacks, with nearly half reporting at least one incident since their inception.
The study surveyed more than 5,000 SME owners across five countries, including over 1,000 in the UAE. Among the global respondents, 46 percent said they had experienced a cyberattack. Malware and hacking were the most common threats, affecting 32 percent of businesses each. Phishing was reported by 31 percent.
Eighty percent of affected SMEs had to rebuild trust with customers and partners. Eighteen percent filed for bankruptcy and 17 percent were forced to shut down.
Cybersecurity is becoming a critical issue for small businesses. Eighty percent of respondents said it is essential to their operations, while 62 percent identified it as a top priority in their budget planning. Most business owners also want cybersecurity solutions in the UAE that are easy to use and do not require advanced technical knowledge.
In the UAE, 47 percent of SMEs reported at least one cyberattack. Malware was the most frequent threat, affecting 32 percent. Digital skimming, hacking, phishing, and ransomware followed closely, each reported by 31 percent of businesses. The UAE was the only country in the study where digital skimming ranked among the top threats.
UAE businesses have faced similar consequences as global counterparts. Seventy-seven percent had to restore trust with stakeholders. A quarter of affected businesses filed for bankruptcy, and 19 percent shut down. Despite the risks, 78 percent of UAE SMEs said cybersecurity is vital, and 57 percent ranked it as a budget priority.
Mastercard’s commitment to support SME cybersecurity
To support small businesses, Mastercard has introduced a range of tools and services focused on cybersecurity. The Mastercard Trust Center provides educational resources, tools, and guidance to help SMEs secure their operations.
The company’s Business Builder program offers debit and credit cards for SMEs, featuring security technology from Cyvatar. The program also includes access to cyber tools, including Mastercard’s new AI-driven Small Business solution.
Mastercard’s Digital Doors program helps SMEs build a secure online presence, manage growth, and process digital payments safely. A new partnership with VikingCloud brings risk assessment and remediation services to small businesses worldwide.
Other offerings include complimentary identity theft protection for SME cardholders and a tool called My Cyber Risk, which helps businesses scan for vulnerabilities on websites and applications. This tool is powered by Mastercard RiskRecon.
Mastercard also collaborates with global partners such as the Global Cyber Alliance and the Cyber Readiness Institute to improve cybersecurity education and accessibility for small businesses.
Mastercard’s research highlights the increasing threat of cyberattacks against SMEs and the growing need for affordable, effective cybersecurity solutions. As small businesses continue to play a key role in global economies, protecting them against digital risks is becoming a top priority.
Source: Mastercard
