Solving Security For SMBs

Closing the gaps:

Solving Security for SMBs

SMBs Need Partners in Their Cybersecurity Journey

Explore Why More SMBs are Seeking External Security Expertise

According to surveyed SMB decision makers, they have budget, executive support, and a desire to reduce risk and stop rising threats. However, these organizations are struggling with resourcing and don’t feel confident in their current cybersecurity posture — they need outside help to achieve their security goals. MSPs with advanced security offerings are perfectly positioned to provide the capabilities these smaller organizations need to improve their security.
Download SMB Report
Arctic Wolf surveyed 142 SMB leaders in the United States and Canada to understand the unique challenges and priorities for SMBs.
  • High tech/telecom
  • Business/professional services
  • Retail, trade, eCommerce
  • Manufacturing
  • Financial services
  • Other (non-profit, construction, energy, transportation)

  • Organization Size

  • 10 – 99 Employees

    55%

    100 – 250 Employees

    45%

  • Repondents

  • Final Decision Makers

    61%

    Director Level or Higher

    64%

  • Industries Represented

    • High tech/telecom
    • Business/professional services
    • Retail, trade, eCommerce
    • Manufacturing
    • Financial services
    • Other (non-profit, construction, energy, transportation)

10 – 99 Employees

55%

100 – 250 Employees

45%

Final Decision Makers

61%

Director Level or Higher

64%

  • High tech/telecom
  • Business/professional services
  • Retail, trade, eCommerce
  • Manufacturing
  • Financial services
  • Other (non-profit, construction, energy, transportation)

10 - 99 Employees

55%

Budgets Are Booming

SMBs are setting aside the funds for cybersecurity investments, taking a risk-based method for their budgeting.

MSP Opportunities:

Budget and executive buy-in for SMBs is there. Make sure you’re providing the most comprehensive cybersecurity services for your customers and communicating what’s possible with those solutions to reduce their risk and help them make the most of their budgets.
62% of respondents say their organization’s cybersecurity budget or spending will increase in the next 12 months.

62% of respondents

say their organization’s cybersecurity budget or spending will increase in the next 12 months.
46% of respondents say at least 10% of IT budgets/spending in the next 12 months will be allocated for cybersecurity.

46% of respondents

say at least 10% of IT budgets/spending in the next 12 months will be allocated for cybersecurity.
67% list “risk-based” as their primary method for cybersecurity budgeting

67% of Respondents

list “risk-based” as their primary method for cybersecurity budgeting.

51% of respondents

have no more than three people working in cybersecurity.
Respondent Quotes:
“Too many other things that require staff to be able to dedicate staff solely for cybersecurity.”
“I do not feel that my company has the necessary staff to protect from cyberattacks, it’s a small company without adequate technical needs.”
“We’re a young inexperienced IT department.”

Resourcing Remains a Challenge

SMBs are struggling with internal issues as well as an onslaught of external threats.

MSP Opportunities:

SMBs lack the resources to address their IT and cybersecurity requirements. It’s up to MSPs to serve as their trusted provider. MSPs can seize this moment of struggle to become the guide on SMBs security journey.

Want to explore this data in-depth?

Understand what's driving SMBs' security strategy, where there gaps are, and what MSPs can do to step in and help.
Download SMB Report
Arctic Wolf Security Awareness Icon

As Risk Increases, Security Awareness Training Needs Attention

Cybercriminals are outsmarting undertrained employees

Malware and ransomware are a top concern for SMBs, and 6 out of 10 SMBs have moderate or low confidence levels in their current cybersecurity posture. To increase confidence while reducing risks, SMBs need to rethink their security training.
Threats and attacks most concerned about

(According to SMB Leaders)

Malware

64%

Business Email Compromise

55%

Exploit of Known Vulnerability

52%

Ransomware

60%

Password Attack

54%

Business Email Compromise

50%

Only half of organizations conducted employee cybersecurity training in the last 12 months.
Only half of organizations conducted employee cybersecurity training in the last 12 months.
51% of respondents are NOT highly satisfied with their organization’s employee cybersecurity training program

MSP Opportunities:

MSPs need to provide a continuous cybersecurity awareness training program to their customers that allows SMB employees to build cybersecurity knowledge and culture from within. By providing this, MSPs will help these organizations reduce on-going risks from user-focused attacks.
Respondent Quotes:
“Most of our employees are not fully aware of the risks. We have training courses but cannot supervise them all.”
“My primary concern is that no one acts until something is wrong already. We had attacks last year which could have been prevented.”
“My primary concern is that no one acts until something is wrong already. We had attacks last year which could have been prevented.”
“Most of our employees are not fully aware of the risks. We have training courses but cannot supervise them all.”

In Conclusion

SMBs are well positioned for external help from MSPs

SMBs have money to spend and are concerned about their cybersecurity posture. They lack resources, risk remains high, and they are looking for allies in their battles against cyber attacks. MSPs have the opportunity to guide SMBs towards recognized frameworks, compliance guidelines, and industry best practices to set their security policies.
On-Demand Webinar:
AIR DATE: Wednesday, June 21, 2023
Closing the Gaps: Solving Security for SMBs
Gain a comprehensive understanding of the cybersecurity challenges your customers face from this exclusive, on-demand webinar revealing key cybersecurity data points from our recent survey of 146 SMB leaders across the U.S. and Canada.
Watch On-Demand

Infographic

Solving Security For SMBs:RISK IS DRIVING SMB DECISIONS

SMBs know they need allies in the cybersecurity battle, so they’re upping their budgets and looking for assistance to help them improve their security posture. Download the data now.
Download Infographic

Additional Resources For

MSP Leaders

Browser icon in center of image.

7 Cybersecurity Best Practices for Managed Service Providers

It seems like not a week goes by that we don’t read a news story about a cyber attack on a major corporation, a prestigious university, or a giant healthcare… Read More   ❯

How Security Operations Solutions Bring Value to Managed Service Providers

Enhance Your MSP Offering with Arctic Wolf as Your Security Partner Small and medium-sized businesses (SMBs) now confront the type of advanced cyberthreats that previously targeted only the largest and… Read More   ❯

City code background with blog icon

The Business of Cybercrime and What it Means for MSPs

We’ve all watched enough TV and movies to recognize the stereotype of the computer hacker in the hoodie, the lone wolf wreaking online havoc from their messy basement bedroom. While… Read More   ❯

VISIT THE RESOURCE LIBRARY

Survey says… cybersecurity continues to evolve at a rapid pace.

In a time of new sophisticated technologies, emerging threats, and a growing attack landscape, it’s never been more important to protect your customers.
Arctic Wolf is a market leader in security operations. Reach out to schedule an introductory call with one of our team members and learn how an Arctic Wolf partnership can accelerate the growth of your security practice.