ConnectWise has announced the 2022 findings of its annual "State of SMB Cybersecurity" report, revealing that the growing number of attacks are fueling investment in cybersecurity, particularly with managed service providers (MSPs). Key findings show nearly three-quarters (73%) of report respondents are in agreement that their organization has reached a tipping point where cybersecurity concerns demand action.

This year's report confirms that the cybersecurity threat landscape continues to grow larger in both size and complexity, raising the alarm for small and medium-sized businesses (SMBs) that no longer feel cybersecurity can be considered a secondary thought after other priorities. Specifically, more than three-quarters (76%) of SMBs report they have been impacted by at least one cybersecurity attack in 2021 — a considerable increase compared to 55% the year before. Consequently, 78% of SMB respondents say their organization is set to increase investment in cybersecurity in the next 12 months. However, a key challenge identified in the report is that two in three SMBs lack the expertise in-house to defend themselves against cybersecurity threats; additionally, many SMBs are also feeling disillusioned or challenged with current partners tasked to provide the help they need.

"Year after year, cyberthreats are a growing concern for businesses of all sizes," said Raffael Marty, general manager of cybersecurity, ConnectWise. "With many SMBs dissatisfied with the cybersecurity service they receive and prepared to make a change, providers must strive to deliver the right solutions if they want to address the needs of their customers more effectively. This also equates to a huge opportunity for MSPs. Those who can provide the right products and tools, and deliver them in the right way – complementing best-in-class technology with education, risk assessment support and effective endpoint, network and cloud protection – will be very well-placed to address SMB needs moving forward."

In particular, the research found that SMB respondents see the following as being important when deciding if a provider has the "right" cybersecurity solution for them:

    54% - Confidence in the MSP's ability to respond to security incidents
    47% - Capability/certifications of the MSP's resources/technicians
    46% - Trust in the MSP's ability to deliver against the offering
    44% - Confidence in the MSP helping to minimize damage/loss
    37% - Brand-name recognition of the MSP's offerings

While the report shows a clear need and appreciation for an MSP partnership, there remain significant challenges that MSPs must continue to address in order to gain the trust and confidence of their SMB clients.

To download a full copy of the research report, click here.