Keeping on top of new threats is the biggest cyber security challenge facing small and mid-sized businesses globally (SMBs) – and more than half are calling for help to manage the risks, new global research by Sage reveals today. UK SMBs are particularly struggling with cyber security preparedness with 57% asking for more support with education and training and 45% not understanding what security is needed for their business.
The leader in accounting, financial, HR and payroll technology for SMBs has conducted global research to investigate SMBs’ perceptions of cyber security and the key hurdles they are facing in this space. Through the study, Sage aims to demystify cyber security and turn it from a daunting challenge to an empowering tool so SMBs can focus on growing their business, developing their teams, and providing outstanding customer experience.
The research reveals:
UK SMBs reported the fewest cyber security incidents in the past 12 months than any other country (42% reported one).
70% of global SMBs say cyber threats are a major concern, however 72% feel confident about managing cyber security and 76% regularly review it
Keeping on top of new threats is the biggest challenge for 51% globally, followed by making sure employees know what’s expected of them (45%), educating staff about cyber security (44%), and cost (43%)
Just 48% of UK SMBs cyber security investment is to increase next year, with 29% saying the cost of living has reduced their cyber security budget
Over half of UK SMBs think the government (55%) and cyber security companies (52%) should do more to support with cyber security education and training
Ben Aung, EVP Chief Risk Officer, Sage, said, “Navigating the fast-paced world of cybersecurity can be overwhelming for SMBs, who often lack dedicated IT expertise. While our research highlights their genuine concern for cybersecurity, they seek guidance to comprehend and mitigate ..
Support the originator by clicking the read the rest link below.
