Small and medium-sized businesses (SMBs) hold valuable data, serve as entry points into larger supply chains and often lack the defences of enterprise organisations. These make SMBs an attractive target for cyberattacks. Some of their top challenges include the rise of commoditised ransomware, phishing attacks, and staff shortages. Each of these issues poses a significant risk and overwhelms lean teams.
The good news is that none of them requires an enterprise budget to address. The solution in each case is the same: reduce complexity, consolidate visibility and build on what your existing team can realistically manage.
Challenge 1: The commoditisation of ransomware
Ransomware was once the domain of sophisticated, well-resourced criminal groups. That is no longer the case. The rise of Ransomware-as-a-Service (RaaS) means that relatively low-skilled cyber attackers can now purchase pre-built ransomware kits and deploy them against businesses of any size.
Ransomware groups have also become more targeted and financially precise, calculating their demands based on what a victim can plausibly pay. For SMBs, this shift is significant. Around half of organisations globally now consider ransomware their top cyber risk, according to the World Economic Forum.
