SMBs are less likely to have experienced downtime due to a cybersecurity issue than their counterparts globally and, also have the lowest cost of downtime, according to the 2022 State of Ransomware Report from Datto, a Kaseya company.
When asked about downtime during their most recent cybersecurity issue, 18% of UK SMBs stated that they didn’t have any, compared to the global average of 12%. In addition, the average cost of downtime for a UK company was almost half the global average – £53k compared to £103k.
Datto suggests that this could be because UK SMBs are more likely to have implemented security solutions such as anti-virus (74% vs. 57% globally), email/ spam protection (66% vs. 53% globally), file backup (64% vs. 49% globally), managed firewall (62% vs. 49% globally) and cybersecurity training for employees (50% vs. 43% globally).
On the downside, the UK has higher than average ransom requests of £16,500, compared to a global average of £12,500. This year, the top security investment priorities for UK SMBs are cloud security (52%), network security (47%) and cyber insurance (32%).
