Based on the results of a survey of 554 SMB founders and execs, examining their thoughts on cyber security, data privacy, and the measures they have taken to protect their businesses from threats. I have extracted some key stats regarding challenges with cyber and data privacy progression of note below:
- Lack of time to focus on security was the most cited challenge (53%),
- Followed by keeping up with changing threats (48%),
- Cost of security solutions (40%), and
- Lack of security expertise (40%).
- Nineteen percent said that assessing vendor security was a challenge.
The statistics on data privacy are also a concern, with
- 74% of businesses say that data privacy is a top concern for their business,
- but the majority (57%) have zero employees dedicated to data privacy.
The resourcing issue is understandable given commercial constraints many small businesses face, and through Peach experience in the Australian market, there is a desire from businesses to do better.
You might consider speaking to Peach Consulting about a cost effective method to gain next-level cyber and data security improvements.
The full Digital Ocean report can be found at: www.digitalocean.com/reports/cybersecurity-smbs-2023
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