Broker Check

More SMBs Acting on Cybersecurity

February 13, 2023

A new survey by Datto shows more small and medium size businesses are taking measures to protect themselves against cyber attacks. The "State of Ransomware Report" interviewed almost 3,000 IT professionals in eight countries. As summarized in, the survey's findings are

  • 42% of businesses are increasing their cybersecurity budgets.
  • 47% plan to invest in network security within a year.
  • 45% are looking to add cloud security.
  • 62% run vulnerability assessments at least twice a year, 37% three times or more.
  • 69% of respondents have cyber insurance; 34% of the remainder plan to get it within a year.

On the down side, only three in ten businesses have a "best in class" recovery plan; 52% have a standard plan and 16% no plan at all. 47% of respondents say it would be difficult to recover from a cyber attack; 16% fear they would not recover.

45% of businesses were down for more than two days after an attack. Average cost of downtime was $126,000. Many SMBs don't have tools to manage downtime.

If your business hasn't been paying attention to cyber security, now is a better time to start than never.