SMEs are making substantially more budget available for cyber security’.

Small and medium-sized enterprises are spending more money on security this year. In addition, SMEs spend more on staff in order to really get their security in order. It therefore seems that companies of all sizes are increasingly aware of the importance of good security.

That’s what new research from Armor shows. This shows that four out of five SMEs plan to spend fourteen percent more on security compared to last year. Almost nine out of ten (89 per cent) indicated that they would like to hire more personnel to secure their internal systems. This is considerably more than in the previous study, when roughly half (53 per cent) indicated this.

Positive development

According to Josh Bosquez, Chief Technology Officer of Armor, these improvements, combined with the willingness of SMEs to make more budget available for cyber security, are a positive sign. Bosquez sees it mainly as a sign that these companies take cyber security seriously.

Cloud security still seems to be a problem for companies. Nearly two-thirds (64 percent) of SMEs are still trying to set up their own cloud infrastructure and have difficulty doing so. This is mainly because the companies do not have a good infrastructure of their own to set it up at all. They also lack the necessary knowledge and resources. A quarter of the threats faced by SMEs are therefore not even examined.

At the same time, it is a positive development that the reaction speed is much higher. 66 percent of the companies respond to a threat within an hour. More than four-fifths have responded to a threat within six hours. SMEs face the same threats and challenges as larger companies, and are taking significant steps to improve overall security, concludes senior analyst Aaron Sherrill of 451 Research.