Think You're Too Small to Be Hacked? Think Again, Canada

A growing number of Canadian small businesses are finding themselves on the wrong side of a dangerous assumption: that cybercriminals only target big companies. According to Coalition’s recent Small Business Cybersecurity Study, a staggering 77% of Canadian small businesses believe they’re too insignificant to attract attention from threat actors. Unfortunately, that belief is not only misguided it’s proving costly.

The numbers paint a clearer picture. An overwhelming 86% of Canadian small businesses have experienced a cyberattack in the past five years well above the global average of 79%. Despite this, many still view cybersecurity solutions as optional, not essential. The report stresses that small businesses are increasingly becoming the "easiest catch" for attackers precisely because they are often underprepared.

There’s a notable disconnect between awareness and action. While 85% of Canadian small business respondents expressed concern about cyber threats over the next 12 months, only a small fraction are allocating significant budget to cybersecurity. In fact, 74% dedicate 10% or less of their total spending to cyber protection. And when it comes to estimating the financial impact of a breach, many remain alarmingly uncertain. Coalition’s findings show that expectations for attack-related costs vary wildly from under $500,000 to over $2 million yet even the lowest end of that range could be a deathblow to a small company.

Interestingly, Canadian businesses are spending more time on cybersecurity than their global peers. Over half (52%) report dedicating more than 10 hours per week to related activities, compared to 41% globally. That time investment shows that small business leaders are trying but without the right tools and strategy, effort alone won’t be enough.

The truth is, cybercriminals aren’t just chasing big payouts they’re chasing easy wins. Small businesses, often lacking dedicated IT teams or modern security infrastructure, are becoming prime targets.

This is where managed security partners like Directpath Global Technologies (DGT) can quietly shift the tide. As a Canada-based MSSP, DGT delivers services like Mobile Threat Defense (MTD), Extended Detection and Response (XDR), VAPT, SOC2 compliance, and VRMaaS. Our AI division helps tailor these solutions to meet each organization’s operational needs, not just for cybersecurity, but across key business functions. We don’t believe in overloading small businesses with tech they don’t need we believe in giving them tools they can actually use.

As Canadian small businesses navigate rising threats, now is the time to rethink assumptions. Being small doesn’t mean being invisible. And in today’s cyber landscape, the best defense isn’t just awareness it’s action. Source: Canadian Underwriter