Small and medium businesses intensify demands for cybersecurity education and assistance as threats escalate significantly
================================================================================
Small- and medium-sized businesses (SMBs) worldwide are investing more in cybersecurity to combat the rising threat of cyberattacks, according to a report by Sage and other related research.
Rising Cyber Threats for SMBs
Cybercrime rates against SMBs have surged post-pandemic, with 43% of all cyberattacks now targeting small businesses. Shockingly, 60% of enterprises that suffer attacks close within a year.
Essential Cybersecurity Investments
To counter these threats, SMBs are focusing on comprehensive protection tools such as anti-malware, phishing, and ransomware defenses. They are also turning to cloud security solutions and integrating managed security services providers (MSSPs) for round-the-clock monitoring, threat hunting, and vulnerability assessments.
Emphasis on Security Assessments and Incident Management
Regular cybersecurity assessments and vulnerability scanning are critical for SMBs to adapt to rapidly evolving tactics. Establishing incident management protocols helps minimize disruption and supports compliance requirements.
Training and Compliance
Ongoing employee training on cybersecurity best practices, compliance policies, and incident response is a strong focus for SMBs. This ensures a security-aware culture and adherence to regulations relevant to SaaS and other digital operations.
Sage’s Role and Industry Engagement
The Sage Future 2025 event attracts finance and accounting decision-makers, but the Sage-related guidance heavily promotes robust documentation, monitoring of sensitive data access, and preparedness through continuous policy updates and audits. These elements contribute to cybersecurity resilience in SMBs.
Global Trends
The majority of SMBs in the U.S., 59%, plan to increase investments in cybersecurity over the next year, with 91% planning to either maintain existing investments or spend additional funds for cybersecurity. The study includes SMBs from the U.S., U.K., France, Germany, Portugal, Spain, South Africa, Canada, and Australia.
Looking Ahead
SMBs are seeking help from cybersecurity specialist companies and trusted technology partners to manage cyber risk. In the U.S. and Canada, 45% of SMBs consider education and awareness as their biggest challenge. They are also looking to industry organizations for help with education and training on cyber risk management.
The Sage report supports prior research from Proofpoint, which showed SMBs are being targeted for phishing and other malicious activity from advanced persistent threat actors. However, the report does not mention any new investments or plans for cybersecurity by SMBs.
[1] Sage Report (Unspecified Timeline) [2] Proofpoint Research (May 2022) [3] Sage Future 2025 Event Guidance [4] Research commissioned by Sage [5] Various related research
- To bolster their defenses against the escalating cyber threat, small- and medium-sized businesses (SMBs) worldwide are allocating more resources towards cybersecurity, as indicated in the Sage report and other research studies.
- In light of the sharp increase in cyberattacks targeting small businesses post-pandemic, SMBs are arming themselves with robust protection tools such as anti-malware, phishing, and ransomware defenses.
- In their quest to manage cyber risk, SMBs are increasingly seeking guidance from cybersecurity specialist companies, trusted technology partners, and industry organizations for education and training on cyber risk management.
- The Sage report aligns with findings from Proofpoint research, which highlights a trend of SMBs being targeted by advanced persistent threat actors through phishing and other malicious activities.
