Cybersecurity threats are no longer just a big company problem

The cybersecurity landscape has changed — what was once considered “just a large company” problem now affects companies of all sizes. While many small business owners continue to operate under the belief that security breaches only impact large businesses — likely a result of the intense media focus on massive security breaches like Equifax, Apple, and Target — this could not be further from the truth.

Attacks on small- and medium-sized businesses (SMBs) are on the rise and the associated costs can be detrimental to their business. In fact, the average cost from damage or theft of IT assets and infrastructure increased from $879,582 to $1,027,053 according to a study conducted by the Ponemon Institute. Meanwhile, the average cost of the disruption to normal operations increased from $955,429 to $1,207,965.

In response, SMBs worldwide are projected to grow their spending on remote managed security to an estimated $21.2 billion by 2021, making it the highest growth area in the managed services market.

Full Article

https://smartermsp.com/cybersecurity-threats-are-no-longer-just-a-big-company-problem