Cybersecurity: Is it a Threat to the Growth of Your Business?

The short answer is yes. Canadian businesses have seen an unprecedented rise in their reliance on digital technologies over the course of the COVID-19 pandemic, and because of that more and more Canadian businesses have had to deal with cybersecurity incidents. According to one survey, 1 in 5 Canadian organizations experienced cybersecurity incidents in 2020 alone.

PwC Canada report found that 80% of Canadian CEOs are concerned about cybersecurity threatening the growth of their companies, and it is easy to see why they would be worried. So many business operations have moved online, and the exposure to cybersecurity threats has never been greater.

Our personal lives are under threat as well, and we are aware of the risk. The Edelman Trust Barometer states that 65% of Canadians are worried about being victims of cyberattacks, while only 63% of us are worried about climate change.


Without investment in cybersecurity technologies, Canada could be left in the proverbial dust when it comes to protecting our businesses and citizens from cybersecurity threats. While countries like the U.S. and the UK invest billions into growing their cybersecurity infrastructure, Canada’s research and development in this area is stagnant. And that poses a serious problem to business owners. How can Canadian business owners hope to compete with foreign businesses with much stronger cybersecurity infrastructure?


The Canadian Chamber of Commerce has launched the Cyber. Right. Now. campaign, which hopes to empower Canada to lead the global cybersecurity future through investment, job creation, and improved cybersecurity accessibility.


Source: Canadian Chamber of Commerce

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