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Small to medium businesses (SMBs) increase their demand for cyber training and support as the risk of cyber attacks intensifies

Smaller businesses (SMBs) encounter significant hurdles in countering cyberattacks relative to larger, resourceful corporate entities, according to a report from Sage.

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Small-sized businesses clamor for cybersecurity education and assistance as cyberattack threats...
Small-sized businesses clamor for cybersecurity education and assistance as cyberattack threats escalate

Small to medium businesses (SMBs) increase their demand for cyber training and support as the risk of cyber attacks intensifies

In the current digital landscape, small- and medium-sized businesses (SMBs) worldwide are investing more in cybersecurity to combat rising threats and regulatory demands. However, many SMBs face significant challenges such as budget constraints, lack of in-house expertise, and rapidly evolving attack techniques.

According to the Sage report, which is based on 2,100 online interviews with professionals at SMBs with less than 500 employees in various countries, up to 45% of small- and medium-sized businesses in the U.S. and Canada consider education and awareness as their biggest challenge. This aligns with findings from Proofpoint's previous research, which revealed that SMBs are being targeted for phishing and other malicious activities from advanced persistent threat actors.

The report highlights the continued cyber risk faced by SMBs, particularly in the areas of access to required skills and adequate resources. Small- and medium-sized businesses are seeking help from cybersecurity specialist companies and trusted technology partners to manage cyber risk. In fact, 91% of small- and medium-sized businesses plan to either maintain existing investments or spend additional funds for cybersecurity over the next year.

Interestingly, the majority of small- and medium-sized businesses in the U.S., 59%, plan to increase investments in cybersecurity over the next year. Moreover, three-quarters of small- and medium-sized businesses in the U.S. consider cybersecurity a major concern.

One of the key reasons behind this increased investment is the growing trend of moving workloads to the cloud. Cloud adoption enables better security integration through solutions like Software-Defined Perimeters, and managed detection and response (MDR) services provide 24/7 threat monitoring tailored to SMB needs.

However, SMBs often lack the internal security expertise or the resources to provide full-time security protections or employee training. This is evident in the statistics, as approximately 61% of data breaches in 2023 targeted SMBs, with 60% of cyberattacks driving small businesses into closure within six months.

To counter these challenges, experts recommend proactive investment in comprehensive security solutions, employee training, vulnerability assessments, and compliance services. Engaging with specialized cybersecurity providers can help bridge resource and expertise gaps.

The global cybersecurity market is expected to grow significantly, from about $219 billion in 2025 to over $560 billion by 2032, at a CAGR of 14.4%. This growth reflects widespread adoption of advanced cybersecurity tools across all business sizes, including SMBs. Growing use of AI for cyber risk detection, Zero Trust architectures, and multi-cloud protection services are helping organizations, including SMBs, defend against evolving threats.

In conclusion, while SMBs globally show increasing cybersecurity investment to counter rising threats, budget and skill shortages remain key hurdles in managing cyber risks effectively. Leveraging cloud-based security, managed services, and emerging technologies are current strategies helping SMBs strengthen their defenses.

  1. The report reveals that education and awareness about cyber risk, specifically related to phishing and other malicious activities, is a significant challenge for up to 45% of SMBs in the US and Canada.
  2. In response to the growing threats, 91% of small- and medium-sized businesses plan to either maintain existing investments or spend additional funds for cybersecurity over the next year.
  3. Experts suggest that bridging resource and expertise gaps in SMBs can be achieved by investing in comprehensive security solutions, employee training, vulnerability assessments, and compliance services, often provided by specialized cybersecurity providers.
  4. The global cybersecurity market is projected to grow significantly, reflecting the widespread adoption of advanced cybersecurity tools, including AI for cyber risk detection, Zero Trust architectures, and multi-cloud protection services by small- and medium-sized businesses, contributing to their defense against evolving threats.

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