Small and medium-sized businesses (SMBs) are still struggling to meet their cybersecurity obligations despite the need for increased security. According to a study by the Ponemon Institute, SMBs have the most risk of cyberattacks yet the least capability to defend themselves. Despite this, the potential of the cyber-security industry for SMBs is largely untapped.
Integrated Cyber CEO, Jean Cynamon, pointed to this gap in the market recently. He highlighted the major challenges for SMB’s, reference a large potential market for cyber-security solutions that could tap into this gap. He encouraged SMBs to take their cyber-security obligations seriously and build effective systems to protect their data and networks from malicious threats.
SMBs need simplified access to the key services and platforms that most organizations of any size use to secure their digital and physical infrastructure. It would be ideal if SMBs had access to affordable and easy to use cyber-security solutions that were tailored to their needs.
Cynamon said the financial opportunities for professional services firms to assist SMBs in their security efforts are immense. He estimated a potential market of hundreds of billions of dollars that SMBs could potentially tap into if given the right incentives and support from cyber-security solution providers.
Integrated Cyber recently released a suite of cyber-security protocols and strategies specifically designed for SMBs. The protocols are said to be easy to use, cost-effective, and include best practices to help SMBs protect their data and networks from attacks.
Security threats are becoming more sophisticated and more organized and the longer a SMB’s security is neglected, the more vulnerable they become. Investing in the right cyber-security solutions now can save SMBs from potential fraud, data theft, and data manipulation that can potentially cost them thousands in future damage and prevention costs.
Cynamon is encouraging SMBs to assess their current security practices and invest in the right cyber-security solutions as soon as possible. “With the right foundations in place, SMBs can reduce their risks and be at the forefront of the ongoing fight against cyber-threats,” he said.
With cyber-attacks becoming increasingly frequent and more damaging, SMBs need to take their security obligations seriously and invest in the right cyber-security solutions sooner rather than later. The billion-dollar potential of the cyber-security industry for SMBs awaits and it has never been a better time to take advantage of the opportunities.
