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Why and How SMBs Are Investing More in Cybersecurity

With the recent surge in cyberattacks, expansion of the remote workforce, and other factors influencing data security, business cybersecurity is a top concern for small and medium-sized businesses (SMBs). Research indicates that 1 in 5 SMBs lacks proper data protection. SMBs know that they need to act fast to protect their data – continue reading to learn why and how SMBs are investing more in business cybersecurity.

Increased Cybersecurity Investments for Remote Staff

Why: With millions of people now working remotely, statistics show security for this growing remote workforce is a top priority. According to the latest research from Parks Associates, more than half of SMBs are concerned about cybersecurity regarding employees’ home networks.

How: SMBs can invest in several security solutions for remote workers. Some of the most popular include managed services (MSx) for managed firewalls and virtual private networks (VPNs), MSx managed Microsoft 360, and MSx managed endpoints.

Security Measures To Support IoT Devices

Why: The growth of Internet of Things (IoT) doesn’t seem to be slowing down. Reports indicate that there will be over 35.82 billion IoT devices installed worldwide in 2021 and it will expand to 75.44 billion by 2025. This means that the portfolio of IoT devices should be the top priority for SMBs.

How: To respond to the current state of IoT devices and proactively prepare for future growth, SMBs are investing in several security measures. The research already shows that one-third of SMBs have increased spending on solutions such as voice and video conferencing services, internet access, IT devices, and support. Also, 37% of SMBs are likely to purchase cybersecurity services over the next six months. This can include services such as managing and securing networks and managed data centers.

SMBs Are Investing To Mitigate Risks

Why: In today’s business climate, SMBs are learning more about cybersecurity risks — from ransomware trends in 2021 to concerns about how the COVID-19 pandemic has changed various industries. SMBs are exposed to information that is prompting them to act. The last thing they want is to fall victim to a cyberattack, so they are investing in cybersecurity services and solutions to help mitigate their risks.

How: SMBs are taking advantage of security advisory services that give them access to cybersecurity experts that can help them assess cybersecurity gaps, understand their security vulnerabilities, evaluate the safety of their network infrastructure, and more. These managed IT advisory services can help SMBs identify and prevent cybersecurity risks.

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