IBM/Ponemon Cost of a Data Breach (Jul 30, 2024; 604 orgs; Mar 2023-Feb 2024): Canadian average CA$6.32M (down from CA$6.94M in 2023); 2025 figure ~CA$6.98M per separate edition

Claim: IBM/Ponemon Cost of a Data Breach Report (Jul 30, 2024; 604 organisations, Mar 2023-Feb 2024): Canadian average data-breach cost CA$6.32M in 2024 (down from CA$6.94M in 2023). A later IBM edition reported a 2025 Canadian average of ~CA$6.98M (per MobileSyrup).

Source: canada.newsroom.ibm.com ; theglobeandmail.com ; mobilesyrup.com

Confidence: Verified.

Caveat: Large-organisation averages, NOT SMB-specific — do not imply an SMB faces a multimillion-dollar bill. IBM sells security AI and frames findings to favour it. The year-over-year direction across editions is inconsistent, so treat CA$6.32M (2024) as the anchor and the 2025 figure as a separate report year.

Why this matters for Candid: Context for magnitude, not expected exposure. The "60% of small businesses shut down within 6 months of a cyberattack" Inc.com figure (via allcovered.com) is single-source, popular-press — treat cautiously and do not cite as established fact.