The Vulnerable State of SMB Cybersecurity and How Managed Service Providers Can Help

The Vulnerable State of SMB Cybersecurity and How Managed Service Providers Can Help

ESG recently conducted a survey of 250 cybersecurity decision makers at organizations with 20 to 500 employees. The research shows that technical teams are struggling to navigate the current threat landscape, which exposes them to risk. To mitigate this challenge, many seek to partner with managed service providers (MSPs), which have the technology and expertise to effectively fill skill gaps.

External Challenge: A Dynamic Threat Landscape

• 77% of SMBs believe their IT environments have become more complex over the past two years
• 52% report the rapid pace of change in the cybersecurity landscape is a driver of complexity

Internal Challenge: A Severe Lack of Security Expertise

As environments become more complex, organizations need enough staff with the right expertise to meet the security challenge—something most SMBs lack

• 85%  of surveyed organizations have NO full-time employees for cybersecurity OR ONLY ONE.
  • EMPLOY ONE dedicated cybersecurity staffer: 49%
  • NO EMPLOYEES on staff focused on cybersecurity: 36%

The Result: Rampant Cyber Risk and Security Incidents

Increasing complexity paired with the lack of resources makes SMBs susceptible

• 48% of SMBs have reported multiple serious incidents over the past year
• SMBs that have had a security incident are 3X MORE LIKELY to say IT has become more complex over the last two years than those without a security incident. 

Don't Underestimate the Threat: SMBs Must Improve IT Security

• SMBs report an average of 3 INCIDENTS ANNUALLY
• Any one incident has a 23% chance of putting them OUT OF BUSINESS

Incidents have caused:

• Lost productivity (55%)
• Business disruption (39%
• Significant time needed for remediation (35%)
• Data loss (32%)
   

One Solve: SMBs Can Fill the Security Technology and Skill Gap in Their Environment with an MSP Partnership

• 90% use or plan to use MSPs for security today, making it the NUMBER ONE IT area where SMBs engage MSPs
• "By utilizing MSPs, organizations can improve security efficacy while focusing on innovation and the growth  of their business." - Adam DeMattia, Director, ESG Custom Research

Why? MSPs are trusted to deliver results

• 64% of espondents believe MSPs are better equipped to secure environments than their internal resources
• 72% of SMBs partnering with an MSP have reduced complexity as a result
• 81% of SMBs partnering with an MSP have reduced risk as a result

Learn more to see how Sharp can help.

Source:  ESG Research Insight Paper, The Evolving Cybersecurity Threat for SMBs and How MSPs Can Mitigate the Risk, Commissioned by Sharp Business Systems, April 2020