Many SMBs really don't know exactly what security tools they need

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The statistics paint a poor picture for SMB cybersecurity

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Many small and medium businesses haven’t quite figured out how to stay on top of the evolving cybersecurity landscape, a new report has claimed.

The research from Sage, conducted across a global pool of SMBs, found that a number of factors are impacting cybersecurity effectiveness, including the cost of living.

A worrying outlook

Trust in cybersecurity is high among SMBs with 72% of respondents expressing confidence in managing their security, reflecting the level of concern held by many of them. 70% listed cyber threats as a major concern within their business.

Smaller businesses fall behind the knowledge and expertise afforded by larger enterprises, and so are left to fend for themselves against constantly emerging and changing threats. Given the current economic turmoil that many businesses are combating, it’s no surprise that less than half (48%) of UK SMBs are looking to increase their cybersecurity budget next year and nearly a third (29%) stated that the cost of living has reduced their budget.

“Navigating the fast-paced world of cybersecurity can be overwhelming for SMBs, who often lack dedicated IT expertise,” said Ben Aung, EVP Chief Risk Officer at Sage, “While our research highlights their genuine concern for cybersecurity, they seek guidance to comprehend and mitigate risks beyond the misconception of it merely relying on firewalls and tools.”

Among the biggest challenges facing SMB cybersecurity, 43% are struggling to understand exactly what is needed in their cyber defense, 44% are concerned on how to educate their employees, and 45% face challenges in ensuring employees know exactly what is expected of them.

Most concerning is the level of defense that some SMBs are implementing, with 46% of businesses not employing firewalls and 42% neglecting to backup their critical data. Moreover, a quarter of respondents acknowledged that their cybersecurity process was not adhered to when tackling cyber threats.

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Benedict Collins
Benedict Collins
Senior Writer, Security

Benedict is a Senior Security Writer at TechRadar Pro, where he has specialized in covering the intersection of geopolitics, cyber-warfare, and business security.

Benedict provides detailed analysis on state-sponsored threat actors, APT groups, and the protection of critical national infrastructure, with his reporting bridging the gap between technical threat intelligence and B2B security strategy.

Benedict holds an MA (Distinction) in Security, Intelligence, and Diplomacy from the University of Buckingham Centre for Security and Intelligence Studies (BUCSIS), with his specialization providing him with a robust academic framework for deconstructing complex international conflicts and intelligence operations, and the ability to translate intricate security data into actionable insights.