2021: A Turning Point for SMB Cybersecurity
To say that 2021 was a remarkable year for SMB cybersecurity would be an understatement. Security leaders are now more aware of vulnerabilities within their own organizations, and ransomware continues to surge. As a result, the cost of a security breach is rising rapidly. Many small and medium-sized businesses have been forced to put security first.
Balancing the reopening of offices with encouraging employees—many of whom have worked remotely for two years—to return is no small feat. The times have changed, and the “old ways of doing things” are no longer good enough. The current norm means organizations can no longer afford to ignore security.
Security has now become a top priority and it’s here to stay. However, rolling out an effective security strategy is both challenging and complex. Let’s review the security challenges that small and mid-sized businesses are likely to face in 2022 and beyond.
The Talent Challenge
Talented cybersecurity professionals are difficult to find—and even harder to keep. Many small and mid-sized businesses have watched skilled employees leave for better opportunities. Without the right talent, it’s nearly impossible to protect your organization without stretching your SMB cybersecurity budget or sacrificing other commitments.
SMB Cybersecurity Talent Predictions
IT and security businesses worldwide face similar challenges. They must decide whether to use employment agencies to find top talent, pay more to keep existing staff, or wait for the perfect candidate—sometimes for months. Alternatively, they might train employees internally, only to see them leave for higher pay elsewhere.
Therefore, focusing on outcomes is essential. Network security professionals aim to minimize the chance of a successful attack and, if one occurs, to stop it before it causes damage. To achieve this, security teams need the right tools. According to a recent (ISC)² study, organizations must increase their SMB cybersecurity staff by 65%. If this isn’t feasible, outsourcing becomes a practical solution.
SMBs must protect their assets efficiently. For many, outsourcing to third-party managed security service (MSS) and managed detection and response (MDR) vendors is the most effective way to access essential skills. IT security solutions providers like NY/FL Nerds make it easy to safeguard critical infrastructure, offering comprehensive cybersecurity solutions, threat mitigation, and more.
SMB Cybersecurity Budget Challenges
IT budgets are being stretched to combat cybercriminals, data breaches, and phishing attacks. Fortunately, cybersecurity is finally getting the board-level attention it deserves. Meanwhile, ransomware gangs are reinvesting their profits into even more sophisticated attacks, which increases the visibility and importance of cybersecurity.
The main challenge is deciding where to spend “cyber dollars.” SMB cybersecurity threats are always evolving, so there’s no silver bullet. Many security leaders aren’t convinced their organizations are any safer than last year. The past decade of spending shows that current methods may not be enough. Should businesses accept the risks of limited protection? Most would say no—so what’s next?
SMB Cybersecurity Budget Outlook
It’s clear that relying solely on the best prevention tools is not enough. To build a strong security posture, organizations must balance investments across prevention, detection, and response. Endpoint Detection and Response (EDR) tools are a huge improvement over traditional antivirus, and the rapid growth of the EDR market proves their value.
However, simply adding more tools isn’t the answer. The most significant risk is a false sense of security. While EDR and Extended Detection and Response (XDR) can enhance protection, they are not cure-alls. For example, what happens if your team lacks the skills to use these tools, or if they’re overwhelmed by new technology?
To achieve the best results, organizations must find the right mix of people, processes, and tools. Every security tool requires expertise and ongoing resources for assessment, management, and maintenance. Most businesses can’t afford this, so a controlled, strategic approach is essential. This allows security teams to focus on high-impact projects and maximize their effectiveness.
The Changing SMB Cybersecurity Environment
This challenge isn’t new, but it’s become more urgent in recent years. Too often, IT and security teams lack well-defined processes. As ransomware attacks surge, criminals can strike with greater agility, and untraceable cryptocurrency payments make their jobs even easier. Antivirus software helps, but it’s often not enough to detect or stop modern threats. As headlines about breaches become more common, adversaries are only encouraged to keep attacking.
The Challenge of Change: Ransomware and Beyond
Ransomware will remain a major issue in 2022 and beyond. Compromised credentials and misconfigurations are among the most common attack vectors. Ransomware now affects critical infrastructure, such as fuel delivery systems. In fact, 2022 saw twice as many ransomware attacks as the previous year, according to the Verizon DBIR Executive Report.
Traditionally, patching has been the best way to reduce vulnerabilities. However, organizations still struggle to patch effectively—even after being alerted to active threats. The process can be complicated and time-consuming. That’s why a three-step approach works best:
- Proactively patch your software and systems.
- Enhance your program with emergency patching capabilities.
- Develop a complete detection and response strategy to catch threats that slip through.
Many MDR providers now offer automated responses. While some organizations hesitate to fully automate, a manual, approval-based emergency response can also help. Ultimately, using the right tools and integrations makes incident response easier and more effective.
SMB Cybersecurity and Patching
Process misalignment between teams is often due to shifting responsibilities. Previously, IT decided when and how to patch. Now, security professionals are increasingly involved in these decisions. From both a people and tools perspective, it’s important to remember that organizations can’t do it all alone. That’s why MSS for patching and MDR collaborations are often the most cost-effective solutions.
Three More SMB Cybersecurity Challenges
In 2022, organizations face three major challenges: retaining skilled employees, ensuring robust security, and keeping up with a rapidly changing world. To get the best return on investment, you’ll need to think creatively and assess your organization’s true capacity. Do you have the skills, budget, and resources to manage security at the level your business requires? If not, it’s time to consider managed services.
MSS and MDR help address different needs. MSS is ideal for managing existing tools, while MDR is best for organizations seeking advanced detection and response. The best MDR solutions combine pre- and post-breach protection across cloud and hybrid environments. With the right mix of technology, threat intelligence, and expertise, you can lower your risk and achieve your business goals.
The Takeaway: Building a Strong SMB Cybersecurity Program
IT Security is constantly evolving. No matter what tools you use, you’ll always need a skilled team behind them. Sometimes, SMBs lack a Chief Security Officer or any dedicated security staff.
Hiring an external IT security firm may be the answer. For the cost of a single CSO, you could have an entire team monitoring your systems 24/7/365. When you’re ready to take your next IT security step, call the SMB Cybersecurity TEAM you can trust. Thousands already do in New York City, Long Island, Westchester, and Florida.