80% of SMBs feel more secure, despite rise in cyberattacks

Untangle Inc. released the results of its fourth annual SMB IT Security report. Despite the flurry of cyberattacks, the report finds that SMBs are expanding and embracing new work environments and investing in and investigating new technologies to secure their business.

The latest Untangle SMB IT Security Report surveyed more than 740 SMBs to learn more about how they’ve adapted to a changing work environment, how they’ve addressed an influx of cyberattacks and defined their approach to IT Security. The survey shows that even with limited budget and resources, SMBs have implemented foundational strategies to address network security issues and lay the groundwork for future investments: 80% of respondents shared that they are more secure now than last year.

Additional key findings from the survey include:

Surveyed SMBs have increased their annual IT security budgets compared to 2020. More small businesses – those with under 25 employees – are making investments in IT: only 28% had annual budgets of $1,000 - $5,000, compared to 35% in 2021.

50% of SMBs now have the majority of their employees working back in the office. However, in keeping with the current workplace transformation trend, 41% have permanently transitioned a quarter or more of their workers to hybrid work. Because of this, 20% of SMBs have implemented some SD-WAN technology, with another 19% having plans to implement or are looking into it.

While companies have been investing more in IT security, there continue to be barriers. Employees who do not follow guidelines have become the top barrier to IT security (28%). Despite some budget increases, many organizations still struggle with budget constraints (27%) and the lack of manpower to monitor and manage security (18%).

Recognizing the need for digital transformation, 58% of SMBs have deployed more than 10% of their IT infrastructure in the cloud – a 32% increase from 2020.

SMBs realize that they are also targets of cyberattacks and look at IT security from a problem/solution standpoint. 64% name breaches as their top security concern, it is understandable that most companies recognize firewalls (73%) and antivirus/anti-malware protection (62%) as top IT security solutions.

“With a changing workplace landscape, and a continued rise in cyberattacks, SMBs have shifted their mindset from ‘it can’t happen to me’ to taking security threats seriously,” said Scott Devens, CEO at Untangle. “To that end, they have increased their focus on IT Security, they have stronger networks than a year ago and have plans for further attack-prevention for the future. There’s a definite trend towards putting more IT in the cloud and following a multi-layered security approach.”

ON DEMAND: Business-impacting events such as severe weather, man-made disasters, and supply chain disruption are increasing in frequency and making impacts around the globe.

In today's rapidly evolving security landscape, organizations face an ever-growing array of disruptive events, security threats and risks. Traditional reactive approaches to security intelligence often leave businesses vulnerable and ill-prepared to anticipate and mitigate emerging threats that could impact the safety of their people, facilities or operations.