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In this paper, we investigate cyber breaches and their effects on small and medium enterprises (SMEs), considering the role that cybersecurity plays in SMEs, and the importance that SMEs have in the economy. Using the Cyber Security Breaches Survey data, the first contribution extends previous works confirming that SMEs receive a wide variety of breaches. Secondly, we have characterized the degree of severity of breaches in SMEs, based on disruption time and their cost. Our last contribution consists of determining the effect and severity of breaches in SMEs in terms of economic, financial and management impacts.