Over the past few years, several factors have exposed vulnerabilities and gaps in security for small and medium-sized businesses (SMBs). From high-impact security breaches such as SolarWinds, to the increase in remote work, to the current Russia-Ukraine war – businesses across the globe have their guard up and are investing their time and money into improving their cybersecurity posture.

While cyber risks exist for all organizations regardless of their size, SMBs may not be able to afford the scale of protection that larger companies can, so could possibly be more susceptible to cybersecurity breaches. According to an IBM study, just over half of SMBs experienced a cyberattack in the past year. Findings from another IBM study found that the average cost of a small business data breach was $2.98 million in 2021—causing 60% of those impacted to go out of business within six months.

Small businesses are in a more vulnerable position due to the lack of technology and IT support needed to effectively mitigate and recover from a cyberattack. Due to the pandemic, many SMBs had to scale back on operations, and if that included their IT departments, they become much more susceptible to bad actors. As more processes become digitized, employees continue to work remotely and cybercriminals become smarter, the need for small businesses to implement proper defenses to protect against security breaches has never been more critical.


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SOURCE Sharp Electronics Corporation

Sharp Electronics of Canada Introduces the All-New Advanced and Essentials BP Multifunctional Printer Series