4 steps small businesses can take to help avoid a data breach

A single breach of customers’ personal or payment data can cause irrevocable harm to a small business’ bottom line and reputation, according to a new report by Bank of America Merchant Services.

The company’s 2018 Small Business Payments Spotlight found even one incident could cost a small business more than 20 percent of its customer base. And consumers between the ages of 18 and 29 are twice as likely as those 65 or older to deliberately avoid a small business that suffered a data breach.

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