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SMB Cybersecurity Report: Confidence a Key Factor in Choosing an MSP

Most small and medium-sized businesses (SMBs) would consider leveraging a new IT service provider if they were offered the “right” cybersecurity solution, according to the second-annual “SMB State of Cybersecurity” report from ConnectWise.

Key findings from ConnectWise’s report included:

  • 91 percent of SMBs would consider using or moving to a new IT service provider if it offered the “right” cybersecurity solution.
  • 86 percent place cybersecurity within the top five priorities for their organization.
  • 75 percent of SMBs are concerned about being the target of a cyberattack within the next six months.
  • 68 percent said the “right” cybersecurity offering is predicated on having confidence in an MSP’s ability to respond to security incidents, and 58 percent stated it is based on having confidence in an MSP’s ability to minimize damage or loss.
  • 60 percent plan to invest more in cybersecurity due to the fact that it reduces risk for their organization.
  • 52 percent said they lack the in-house skills necessary to properly deal with security issues.
  • 49 percent said they believe cybersecurity expertise is an added benefit of working with an MSP.
  • 29 percent said they talk to their MSP about cybersecurity only if a security incident occurs, and 13 percent have regular cybersecurity-related conversations with their MSP.

Confidence is a key factor for SMBs in choosing the “right” MSP cybersecurity offering, said Jay Ryerse, ConnectWise’s VP of cybersecurity initiatives. Meanwhile, Ryerse offered several recommendations to help MSPs foster trust with customers and ensure that customers feel confident about their security posture, such as:

  • Participate in ongoing cybersecurity training
  • Stay up to date on the cyber threat landscape
  • Become well-versed in cybersecurity technology

There is an increased market opportunity for MSPs that understand cybersecurity, Ryerse indicated. If MSPs continuously learn about cybersecurity, they can position themselves for growth and be well-equipped to help their customers address emerging cybersecurity challenges.

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