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Cyber security is considered one of the top strategic priorities for small and medium sized businesses (SMBs) worldwide, but many remain exposed to attacks despite rising investment. That is according to research commissioned by Sage, the accounting, financial, HR and payroll software developer.
The study, by IDC and titled SMBs in the Age of AI: Navigating cyber complexity and building resilience, based on a global survey of 2,210 SMBs, including the UK, found that half (52pc) rank cyber security and data protection among their top business priorities for the next 12 months, second only to growth (59pc) and well ahead of scaling AI adoption (33pc). Six in ten SMBs (60pc) also expect to increase cyber security spending over the same period. Despite this, many SMBs remain vulnerable to cyber-attacks, with one in two experiencing an incident or data breach in the last year.
Tools in place
Tools are in place but not consistently applied, it’s suggested. Most SMBs report using baseline protections such as email security (79pc), endpoint protection (67pc) and regular patching and data back-up (71pc). Far fewer carry out staff training and phishing simulations (50pc), train employees consistently or test incident response plans (36pc). As SMBs rely more heavily on SaaS platforms and vendors, gaps in monitoring can create security blind spots across the wider digital ecosystem, Sage suggests.
Gustavo Zeidan, Chief Information Security Officer at Sage, said: โMany SMBs are excited about the potential of AI but want simple, practical ways to adopt it securely as threats become more sophisticated. Businesses should not have to choose between innovation and security. By making cyber security easier to implement through secure-by-design products, clearer guidance and collaboration across industry and government, we can help SMBs build resilience, innovate securely and grow at pace.โ
Background
Sage is a participant in the UK Governmentโs Software Security Ambassadors Scheme, by the Department for Science, Innovation and Technology (DSIT).
