Small businesses around the world are sounding the alarm as cyber threats intensify. A new study from Mastercard reveals that nearly half (46%) of small and medium enterprises (SMEs) have suffered at least one cyberattack, with hacking and malware each accounting for 32% of incidents, and phishing trailing closely behind at 31%.
The research, conducted across five countries with over 5,000 SME owners – including 1,000+ in the UAE – highlights just how vulnerable these businesses are. According to the report, 80% of affected SMEs had to spend time rebuilding trust with partners and clients. Worse still, some couldn’t recover: 18% filed for bankruptcy, while 17% shut down permanently.
“The impact of cybercrime on small businesses can be devastating – from financial loss to brand damage,” said Gina Petersen-Skyrme, Mastercard’s SVP and Country Manager for UAE & Oman.
The UAE stands out in Mastercard’s research. About 47% of SMEs in the country have endured a cyberattack. While malware tops the list of threats at 32%, digital skimming, phishing, ransomware and hacking each appear in 31% of reported cases — making the UAE the only country where digital skimming is among the top concerns.
The local consequences are serious. Of the SMEs affected, 77% had to rebuild trust with stakeholders, 25% declared bankruptcy and 19% went out of business altogether. Despite the risks, 78% of UAE respondents view cybersecurity as essential, with 57% naming it a top budget priority.
To help SMEs strengthen their cyber defences, Mastercard is rolling out a suite of tools and programmes. Its Trust Center provides small businesses with access to cybersecurity insights, educational resources, and tools. More recently, Mastercard launched its Business Builder programme, which features cards powered by Cyvatar’s enterprise-grade security and grants access to AI tools, cyber education, and protection resources.
Meanwhile, the Digital Doors initiative assists small businesses in safely expanding their digital presence. Through a partnership with VikingCloud, Mastercard is also offering real-time risk scoring and remediation services to SMEs globally. Tools like My Cyber Risk, powered by RiskRecon, help companies detect vulnerabilities in their digital infrastructure.
Other protective measures include free ID theft protection for cardholders, partnerships with the Global Cyber Alliance and Cyber Readiness Institute, and ongoing cybersecurity education tailored to small business needs.
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