Many SMBs still just aren’t equipped to deal with cyberattacks

Most small and medium-sized businesses are ill-equipped to tackle the growing problem of cyberattacks, new research from DataSolutions Group has claimed.

The IT distributor’s recent “Cyber Concerns” report found that 89% of leaders are “increasingly” worried about ransomware and malware. There are different factors contributing to the growing fears, including the lack of quality staff, tools and services, as well as budget.

In fact, 43% of SMBs said they were struggling with the expertise needed to address security threats, with 10% “really struggling”. Roughly the same percentage (45%) revealed struggles with having enough quality staff and IT budgets to handle these issues. Another 12% said they were really struggling.

No mercy from the criminals

At the same time, cybercriminals are showing no mercy. More than a third said the attacks they suffered in the last six months grew more sophisticated, and 45% also noticed an uptick in their frequency. 

When it comes to the technological solutions capable of assisting SMBs on this matter, businesses are not clueless. Four in five (80%) would prefer having an all-in-one security solution (opens in new tab) to help them manage everything and offer a holistic, bird-eye approach to visibility. At the same time, they’re considering Zero Trust Network Access as means of network protection. 

A recent Forrester report claims two-thirds (68%) of firms are planning to invest more money into Zero Trust initiatives. 

“On average, the potential cost of a breach is estimated to be over £1,700,000, which is why getting the right cybersecurity solutions and strategy in place is so critical for SMBs,” commented Michael O’Hara, Group Managing Director, DataSolutions. “It was interesting to note the overwhelming response to considering an all-in-one solution to manage everything, as this is a trend we are seeing more and more.”

“As 2023 nears, and economic uncertainty continues, there may be a conversation held amongst SMB leaders and decision-makers to cut costs overall, and with cyber security being part of that. However, what this data shows is that cyber investment is more important than ever.”