Cyber Security Threats Are On The Rise In Small Businesses Due To Lack Of Resources

Cyber Security threats are on the rise in the country and small and medium-sized businesses (SMBs) have become a soft target due to their lack of preparedness and resources. Larger organizations have beefed up their security protocols, leaving limited opportunities for cybercriminals, say experts.

- Ayushman Baruah

Industry surveys show that around 60% of SMBs are oblivious to the risk that cyber attacks pose for them and about 40% of them do not consider strengthening cybersecurity to be a priority.

According to research by cyber security firm Trellix, Indian SMBs faced an average of 37 cyber security incidents per day, amounting to a loss of a little over 7% in revenue over the last 12 months.

"The SMB segment is a soft target for most cyber criminals given their lack of preparedness to address the rising cyber security challenges," said Venkat Krishnapur, vice president of Engineering and managing director, Trellix India. "The lack of resources, the right technologies, the evolving nature of end-point devices, and the unavailability of skilled manpower makes smaller businesses more susceptible to cyber security threats."