What are the cybersecurity concerns of SMBs by sector>
EIN News
DUBAI, UNITED ARAB EMIRATES, April 13, 2023/EINPresswire.com/ — Some sectors have high confidence in their in-house cybersecurity expertise, while others prefer to enlist the support of an external provider to keep their systems and data secured Business and professional services Data suggested that over a quarter (26%) of business and professional service SMBs have slight to no confidence in their in-house cybersecurity expertise. Just under a third (31%) have little confidence in their teams’ understanding of the latest threats. Further, a third (33%) believe they would struggle to determine the root cause of a cyberattack. Almost 4 in 10 (38%) SMBs in the category of business and professional service manage their security in house, slightly more than the average SMB (34%). Just over half (54%) prefer to outsource it instead. However, an additional 8% are looking to outsource their cybersecurity within the next 12 months. Only 24% of business and professional service SMBs prefer to keep their security management in house, the lowest of any sector surveyed. Just over a quarter (26%) prefer to outsource to a single security provider and 40% outsource to multiple providers. Financial services Almost 3 in 10 (29%) of SMBs operating in financial services have slight to no confidence in their in-house cybersecurity expertise. Even more (36%) have slight to no confidence in their employees’ understanding of cybersecurity threats. However, only 26% of financial services SMBs believe they would struggle to determine the root cause of a cyberattack, less than the average SMB (29%). Only 28% of financial services SMBs manage their security in house, the lowest of all the sectors we surveyed. Rather, almost two-thirds (65%) outsource it instead, far more than the average SMB (59%). Just over a quarter (26%) of financial services SMBs show a preference for keeping their security management in house. The same number prefer to outsource to a single provider, whilst 39% like to outsource their security to multiple providers. Manufacturing and Industrial A third (33%) of manufacturing and industrial SMBs have slight to no confidence in their in-house cybersecurity expertise, far more than the average SMB (25%). Four in 10 (40%) have slight to no confidence in their employees’ understanding of security threats, more than any other sector. Yet only 29% worry that they would struggle to determine the root cause of a cyberattack should the worst happen. Just 3 in 10 (30%) manufacturing and industrial SMBs manage their security in house. Over twice as many (63%) prefer to outsource their security instead, the second highest of any sector. A third (33%) of SMBs in the manufacturing and industrial vertical show a preference for keeping their cybersecurity management in house, the most of any sector. Only 24% prefer to outsource to a single security provider, and 35% outsource to multiple providers. Retail, wholesale, and distribution Four in five (80%) retail, wholesale, and distribution SMBs have moderate or high confidence in their in-house cybersecurity expertise, the most of any sector. This is far more confidence in the IT team’s cybersecurity expertise than seen in the manufacturing sector (67%). Three quarters (74%) of retail, wholesale, and distribution SMBs have moderate or high confidence in their employees’ understanding of security threats too, compared to just 64% of financial services SMBs. Similarly, more retail, wholesale, and distribution SMBs (79%) have confidence in their ability to determine the root cause of an attack than any other sector. Over 4 in 10 (41%) retail, wholesale, and distribution SMBs manage their cybersecurity in house, the most of any sector. Because of this, only 53% currently outsource their security. However, 6% are looking to do so in the next year. Around 3 in 10 (31%) retail, wholesale, and distribution SMBs show a preference for keeping their security management in house. The same number prefer to outsource to a single security provider, and a further 28% outsource to multiple providers. Technology and Telecoms A quarter (25%) of technology and telecoms SMBs have slight to no confidence in their in-house cybersecurity expertise. However, more SMBs in the sector (78%) have moderate or high confidence in their employees’ understanding of security threats than any other. Over three-quarters (77%) also have confidence in their ability to determine the root cause should an attack happen. Perhaps unsurprisingly, more technology and telecoms SMBs (37%) manage their cybersecurity in house than the average SMB (34%). More, though, outsource their security than retail businesses (58% versus 53%). Three in 10 (31%) technology and telecoms SMBs show a preference for keeping their security management in house. In contrast, 23% prefer to outsource to a single provider, and 36% outsource to multiple security providers.
Link: https://agriculture.einnews.com/pr_news/627491472/what-are-the-cybersecurity-concerns-of-smbs-by-sector