Security News > 2021 > June > SMBs willing to spend more money to protect their data

Cybersecurity remains a top priority for SMBs worldwide, as revealed in a survey conducted by Vanson Bourne.

The report found that organizations are challenged to find a MSP or a TSP that will help protect them from rising cybersecurity threats, and most would consider moving to a new IT service provider with the "Right" solution, and would pay on average 34% more for that service provider.

The cost of suffering an attack has skyrocketed: 32% of SMBs have suffered a cybersecurity attack in the past 12 months, an increase from 25% who reported the same in 2020, with the financial repercussions of an attack, averaging $104,296, almost double the figure reported in 2019.

"It is clear now more than ever that TSPs need to have proactive, cybersecurity-specific conversations with their SMBs about what the right cybersecurity solutions should encompass to guard against ongoing threats," said Jay Ryerse, CISSP, vice president of cybersecurity initiatives for ConnectWise.

Four key challenges SMBs are facing regarding cybersecurity threats Challenge one: The difficulty of managing cybersecurity in an environment of competing priorities.

Only 35% of decision makers report their organization is very well protected against remote devices/employees being breached, further evidencing that organizations are not yet taking the steps they should be to protect remote employees.

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