While headlines often highlight cyberattacks on large corporations and government agencies, small and midsize businesses (SMBs) are actually more frequent targets. Over two-thirds of all cyberattacks are directed at companies with fewer than 1,000 employees, putting your business at risk. Without strong defenses or a dedicated information security team, SMBs become attractive targets for attackers.
Why SMBs Are in the Crosshairs
SMBs are a driving force in the U.S. economy, generating about 50% of the country’s gross domestic product (GDP). With over 27 million small businesses, they represent a vast, appealing target for cybercriminals. Despite their importance, many SMBs struggle with information security. While IT budgets for SMBs are expected to grow by 7.5% this year, cybersecurity is often underfunded, as security is typically lumped into overall IT spending.
A study revealed that 40% of SMBs allocate less than $1,000 to cybersecurity, leaving them vulnerable to increasingly sophisticated attacks.
Common Cybersecurity Challenges for SMBs:
- Employees ignoring security policies (24%)
- Lack of time to learn about new threats (13%)
- Inadequate staffing to build secure systems (12%)
- Limited security experience (11%)
Attackers Exploit SMB Vulnerabilities
For example, let’s say one of your business applications is out of date. If your IT department doesn’t have the time to patch it, that vulnerability could allow an attacker to exploit your system. Once inside, the attacker can steal data, drop malware, or compromise user credentials—all without spending a single dollar. This type of attack can cost your business up to $200,000 and bypass common security tools like firewalls and antivirus programs.
Defending SMBs on Limited Budgets
While increasing cybersecurity budgets seems like a straightforward solution, SMBs often don’t have the resources to add extra staff or invest in expensive, round-the-clock monitoring solutions. Even with more money, small businesses still face the challenges of limited time and manpower.
Protect Your SMB with Gradient
Gradient offers a security solution tailored for SMBs that works within your existing resources. Our Security Intelligence Platform identifies weaknesses in your network and provides actionable insights to strengthen your defenses. With Gradient, SMBs can defend themselves effectively, making it harder for attackers to target them.
Want to see how Gradient can help protect your business? Sign up for a free demo today!
