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Cybersecurity for Small and Midsize Businesses (SMBs): Developing Long-Term Security Strategies without Budget Constraints

cybersecurity for small and midsize businesses

Small and midsize businesses (SMBs) require resilient and robust security strategies that seamlessly blend technology, services, and training to combat evolving cyber threats.

However, the current economic challenges have imposed constraints on cybersecurity budgets, forcing leaders to make tough and strategic decisions.Prioritizing some security aspects over others has led to the adoption of partial security strategies, leaving some critical vulnerabilities unaddressed.

Let’s explore the significance of a comprehensive strategy of cybersecurity for small and midsized businesses.

The widespread shift to remote work following the Covid-19 pandemic has had a lasting impact on how businesses operate. According by Forrester, with 40% of European employees expected to regularly work from home by 2024[1], the move towards hybrid work environments poses both opportunities and challenges. Remote work has expanded the potential attack surface, introducing unmanaged technology and encouraging a “bring your own everything” culture. This surge in unsanctioned applications and devices has surpassed the oversight of security teams, posing risks to businesses.

This shift has breached traditional security defenses, rendering firewalls and intrusion detection systems inadequate in protecting users outside the conventional boundaries. Cloud technologies have further blurred corporate perimeters, allowing various SaaS solutions and cloud platforms to maintain business operations.

The scarcity of cybersecurity skills compounds these challenges, leaving businesses struggling to manage the array of solutions and platforms introduced. This landscape has made end users more vulnerable to cyber threats, as bad actors exploit remote work infrastructure vulnerabilities.

Building a sustainable business plan

Balancing technical cybersecurity aspects with agile and sustainable business strategies is critical for business leaders. A sustainable business plan must integrate cybersecurity at its core, considering the potential impact of cyber threats on business operations.

To address these challenges without extensive investments, HWG Sababa recommends a light security assessment aligned with established cybersecurity frameworks. The assessment additionally covers various security domains, including Active Directory, DNS traffic scanning, vulnerability and email risk assessments, firewall assurance, and user awareness programs. This comprehensive yet budget-friendly evaluation identifies the company’s overall security maturity and areas of risk.

This approach allows security leaders to address multiple areas at once within an average SMB security budget, usually reserved for only one area.

HWG Sababa’s RedEx program provides a tailored, multi-step approach to minimize cyber threats while aligning with business objectives, resources, and budget. Spanning 36 months, this program maps a customized roadmap for continuous cybersecurity improvement, mitigating risks in a tailored manner.

Discover our RedEx program of cybersecurity for small and midsize businesses!

 

[1] Forrester research 2023

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