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Cybersecurity: The Threat to SMEs

In a time of increased remote work and growing cyber threats, SMEs face major cybersecurity challenges. Regardless of industry and size, every company will have weaknesses that a hacker can exploit, and small businesses could leave themselves exposed.

Worryingly, it has been reported that 48%* of cyber-attacks are made against small businesses. And this number has increased year on year, it was a mere 18% just a few years ago. So why is this happening? Unfortunately, in small businesses often multiple employees have access to sensitive data and will not necessarily have adequate resources or as much knowledge of data security measures that a larger organisation will benefit from, which often makes them a target for cybercrimes.

Businesses can no longer rely on simple solutions like their anti-virus or firewall to protect themselves from the impending threat of a security breach. Cybercriminals are becoming smarter and using more sophisticated technologies to overcome these barriers and SMEs should consider outsourcing their cybersecurity to a specialist IT company that will be aware of the cybersecurity pitfalls and help arm businesses with the right security measures that they need to work effectively, and above all, securely.

In small to medium businesses, employees often need to wear multiple hats. This means that data is shared across departments, and sensitive information is often stored and shared online via cloud storage solutions like OneDrive or Google Drive. Businesses have become more reliant on supportive technology to aid agile working, and this has only been boosted by the pandemic. This reliance along with the adoption of cloud services, smartphones, IoT, and AI has led to various new security vulnerabilities that simply didn’t exist a few years ago. While small businesses have embraced these new technologies and are benefitting from the flexibility they bring, they may not be aware of the risks they pose without the right cybersecurity measures in place.

With SMEs they can be discouraged from outsourcing their IT to a managed service provider, for fear that it will be a high contribution to their business expense, they might not be able to see the value in seeking professional help and support, preferring to take measures into their own hands. If your budget is limited, your ability to hire the most experienced and skilled people is also limited. Many SMEs are defended by teams lacking the institutional knowledge, cutting-edge skills, and wide experience an MSP possesses. Last year in the UK, 36% of micro firms identified breaches or attacks within their organization, rising to 48% for small businesses and 59% for medium-sized firms according to the UK Governments Cybersecurity Breaches Survey 2022*. Topping the list of sectors most likely to be targeted were unsurprisingly the finance and insurance sectors at 54% with communications and administrative sectors just behind them. When a security breach impacts an SME the results can be disastrous, and often business-ending. This alone should be enough to encourage businesses to invest in cybersecurity.

As we’ve outlined, Small and medium-sized enterprises shouldn’t take risks with their security simply due to their size. Managed service providers can help SMEs bridge the gap, so that cybersecurity will never be a compromise. An MSP will provide streamlined, cost-effective security measures that work alongside your business model.

Contact us to learn more about our fully managed comprehensive cybersecurity service that helps businesses reduce risk, certify, protect, and build trust call 01245 208080 or email helpdesk@ghostenterprises.co.uk

Find out more: www.ghostenterprises.co.uk

https://www.gov.uk/government/…

– By Holly

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