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For small and medium-sized businesses, network security may not be a high priority. After all, why would hackers target a small business when they could get so much more data from a large corporation? The truth is, these businesses are a prime target for hackers specifically because of this mindset. Here’s what SMBs should be thinking this year:

The Facts

Hackers know that SMBs have valuable employee and customer data, however, they also know they often don’t have the resources of a larger company to invest in security.

A 2020 study by BullGuard revealed that a third of businesses with 50 or fewer employees reported using free, consumer-grade cybersecurity to protect themselves. One in five of these companies had no endpoint security at all.

Nearly half of all attacks are on SMBs. A single attack can cost your business thousands of dollars, along with your reputation. Half of SMBs who suffer an attack are forced to close, permanently.

Partners in Security

One half of the problem is that SMBs don’t believe they’re a target, the other half is that they often don’t have the staff in place to stay on top of security threats. Implementing an in-house IT department can be expensive with ongoing costs for staff, equipment, upgrades and training. A Managed IT Services provider can offer robust security solutions for a lot less than the cost of hiring an IT team and maintaining infrastructure. With professionals regularly trained in detecting the latest threats, they can help protect your business without the expense of doing it all in-house.

In today’s high-risk environment, SMBs have become easy targets of cyberattacks and sometimes responding and recovering from these attacks can take a long time – if they recover at all.  Research from IBM and the Ponemon Institute’s 2021 Cost of a Data Breach Report shows that small organizations (those with fewer than 500 employees) spend an average of nearly $3 million per incident.

By partnering with a Managed IT services provider, small and medium-sized businesses can be better armed against sophisticated cyberattacks and have access to security protection that once was only available to large corporations.

Ask us about a no-obligation IT assessment for your business. Let’s make sure your security and IT are ready for 2022 and beyond.