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Do Small and Midsized Businesses (SMBs) Need to Hire a Managed IT Security Provider?

Summary:

As a small or midsized business owner, you're probably wearing many hats, from managing staff to serving clients, tracking finances and keeping your company’s IT running seamlessly. But considering the dramatic increase in cybercrime, ignoring cyber security can be a very costly mistake. One data breach can quickly wipe out years of effort and earnings.

What are the Cyber Security Threats to SMBs?

Hackers know that small businesses are often lax about cyber security protections, thinking they don’t need to worry about it because of their size. That makes SMBs “low-hanging fruit.” Whether the cyber threats are from ransomware, phishing attacks or the newest hacker techniques, the cyberattack landscape grows daily. Without proper cyber security for SMBs, your business risks a lot more than just downtime and direct financial hits; it risks losing proprietary confidential data, significant revenue and client trust that can take years to build. That is why up-to-date cyber security is essential for protecting your SMB’s data.

Q: Why do Hackers Target SMBs?

A: SMBs often think they’re too small for hackers to bother with them. Therefore, they can lack strong cyber defenses, making them attractive targets for hackers using tools such as ransomware and phishing.

Are There Effective DIY Small Business Cyber Security Solutions?

Antivirus software and file backups as cyber defenses are no longer enough. SMBs require more than basic off-the-shelf protection. Cybercriminals use increasingly sophisticated tools and diabolical scam tactics. Software alone cannot protect your SMB from a data breach. Also, while operating your business, you may not have the time, budget or expertise to monitor your network activity around the clock, manage security patches, analyze cyber threats or respond to emerging security breaches. If you have any staff doubling as IT techs, they might already be stretched too thin with their day-to-day tasks and lack of updated industry knowledge. The good news is that outsourcing your IT security to a specialized IT security provider can free your staff while ensuring your SMB has the best available cyber protection in place.

Why Does Your SMB Need a Managed IT Security Provider?

An IT security company is an outside security vendor specializing in small business cyber security solutions that protect your business against a growing field of cyber threats. These companies monitor, manage and maintain your overall IT security and help ensure you can recover in the event of an attack.

Managed IT security typically offers a variety of services, including continuous live threat monitoring, regular software patching, security audits and assistance with compliance assessments, data backup, disaster recovery, and employee cyber security awareness training. With a third-party provider handling these tasks, your business is far less likely to fall victim to attacks and more likely to recover quickly if an incident occurs.

Q: Can SMBs maintain robust cyber security on their own?

A: Basic tools such as antivirus software aren’t enough. Most SMBs lack the time, budget and expertise to monitor threats and respond effectively to attacks.

Do You Need to Spend Money on Cyber Security?

Did you know that most cyberattacks target SMBs? Unfortunately, the long-term consequences of an attack can be ruinous. Unlike larger corporations with bigger budgets, SMBs often lack sufficient financial reserves to recover from a major data breach, and 60% of all SMBs go out of business within the first six months after suffering a significant cyberattack.

Losing access to your business data or having it leaked to bad actors can permanently damage your company’s reputation. (Imagine the cost of recreating all your business data from scratch?) The numbers don’t lie. That’s why investing in professional outsourced cyber security for your small business is a great proactive and cost-effective approach to ensuring your data remains safe and your operations are not interrupted by cyber events.

How Can You Tell if Your Business Has Enough Cyber Security?

Cyber security is too important to be left to chance. It is human nature to believe that if nothing bad happens, there’s nothing to worry about. But just because you can’t see something doesn’t mean it can’t hurt your business. Many cyber threats are designed to go unnoticed until it’s too late and a cyberattack has already been launched. Cybercriminals harvest data and leave a “back door” open so they can return to steal new data.

By performing a cyber risk assessment, done by a reputable managed IT security team, you can identify vulnerabilities in your current computer network setup. Security experts can run penetration tests, analyze your network’s cyber defenses and make informed recommendations about how to fix any problems that are uncovered.

Should You Partner with a Managed IT Security Vendor?

Enlisting the services of an IT security provider is a cost-effective and comprehensive solution for your business. You’ll immediately gain the professional IT expertise you lack without the overhead of hiring full-time, in-house IT staff. Also, managed IT services provide 24/7/365 protection for your computer systems and critical business data. Furthermore, your IT costs will be completely predictable, with scalable solutions that can expand as your your business needs change. Finally, if your company is subject to compliance laws, your managed IT specialists can help you meet your legal requirements and prepare for audits.

Q: What Does a Managed IT Security Provider Do?

A: They offer specialized services, such as 24/7 threat monitoring, software patching, data backup and compliance support, and they help your business recover quickly from attacks.

Why Do Clients Care About Your Cyber Security Posture?

Clients should be able to consider their data safe with you. Whether you’re working with individuals or other network-connected business partners, they should expect their information to be protected. By demonstrating a clear commitment to IT security, you will foster the development of long-term business relationships. On the other hand, a serious data breach can result in a significant loss of client trust and referrals that is hard to regain. However, by showing that you’ve invested in robust cyber security solutions, you signal to your clients that you are serious about keeping their data secure.

How Do You Choose the Right Provider for Your SMB?

If you decide to hire an IT security provider, there are a few things to consider. Look for a provider that:

A reputable professional managed security service provider (MSSP) will work with you to understand your business’s specific needs, goals and challenges.

What’s the Worst That Can Happen if You Do Nothing?

It’s easy for a small growing business to delay an investment in cyber security. However, the cost of one data breach greatly outweighs the expense of preventing one. Paying ransoms for the recovery of lost data, notifying clients of their potential exposure to cyber threats, facing regulatory fines and ongoing legal actions and the financial and reputational damage to your business can be devastating or impossible. Think about the cost of having to pause your business operations for a day, a week, or more and the potential repercussions of your client files being stolen or corrupted. Would your SMB be able to recover?

By hiring a professional IT security service, you can operate with the confidence that your company’s data assets are being monitored and are secure.

Why Contracting a Managed IT Security Provider is So Important?

Contracting an IT security provider helps ensure you have appropriate cyber security for your SMB. With the right managed security service partner, you’ll gain access to the professional tools and expertise needed to remain safe in today’s cyber security environment. Don’t wait until your business is under attack. Enlist the services of a managed IT security provider today. They will help you implement strong, practical and scalable SMB cyber security solutions so you can focus your resources on what you do best - serving clients and operating your core business.