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Most small business will change to MSPs seen as more secure

Cybersecurity remains a top priority for SMBs worldwide, as revealed in a survey commissioned by ConnectWise, The second annual ConnectWise SMB State of Cybersecurity report found that more than three-quarters of the respondents worried they will be the target of an attack in the next six months, and 91% of SMBs said they would consider using or moving to a new IT service provider if it offered the “right” cybersecurity solution. 

Sixty-eight percent of respondents said the “right” offering means having confidence in an MSP’s ability to respond to security incidents, while 58% stated it’s having confidence in an MSP’s ability to minimise damage or loss. The SMBs are prepared to invest in security - 74% says they will spend more or much more  cybersecurity (see chart). The rest will spend about the same as in 2019. 

“There is an increased market opportunity for MSPs who participate in an ongoing basis in cybersecurity training, remain current on the latest threats, and become versed in cybersecurity technology,” said Jay Ryerse, CISSP, vice president of cybersecurity initiatives for ConnectWise. “As MSPs raise their understanding across the entire cybersecurity discipline, they find themselves strongly positioned for growth in a post-pandemic economic recovery, emerging from the experience stronger and more agile, and with customers better prepared for the cybersecurity challenges that lie ahead.”

With 86% of SMBs placing cybersecurity within the top five priorities for their organisation, six in 10 will invest more in cybersecurity because it reduces risk for their organisation. The research also highlights that over half of SMBs surveyed (52%) agree they lack the in-house skills necessary to properly deal with security issues, and 49% of SMBs find more cybersecurity expertise as an added benefit of working with an MSP. 

This interest in cybersecurity investment suggests SMBs are seeking out MSPs to help close the skills gap and presents a growing market opportunity for MSPs to protect clients against the expanding threat landscape.

“The survey’s findings show what we know to be true: Confidence remains a key factor for SMBs in choosing the ‘right’ MSP offering for their business needs,” said Ryerse. “Currently, only 13% of SMBs are having regular cybersecurity-related conversations with their MSP. Even more worrisome is the fact that 29% of SMBs talk to their MSP about cybersecurity only after they have suffered an incident. It’s clear that MSPs must work to reinforce that confidence and build closer relationships with their clients.”