Most small and medium-sized businesses (SMBs) ignore cyber threats and fail to properly document security vulnerabilities, according to results from more than 1,000 risk assessments conducted by ConnectWise managed service provider (MSP) partners.

Key findings from the ConnectWise partner research included:

  • 69 percent of SMBs have not identified and documented cyber threats.
  • 66 percent have not identified and documented security vulnerabilities.
  • 57 percent have not informed and trained all end users on cybersecurity.
  • 48 percent have not analyzed cybersecurity attack targets and methods.
  • 43 percent do not have a recovery plan for a cybersecurity incident.

SMBs are projected to spend $21.2 billion on remote managed security by 2021, ConnectWise indicated. As such, MSPs and MSSPs that support SMBs could capitalize on a rapidly growing market segment in the foreseeable future.

How Can MSPs and MSSPs Help SMBs Combat Cyber Threats?

MSPs and MSSPs can deliver a wide range of managed security services to help SMBs combat cyber threats.

For example, Exabeam, a security information and event management (SIEM) platform provider, this month released SaaS Cloud Essential for SMBs. The offering automatically collates risky user and asset information and depicts user and device behavior to help detect SMB cyberattacker tactics, techniques and procedures (TTPs).

ConnectWise also announced ConnectWise Identify, a risk assessment tool based on the company's Sienna Group acquisition, in March. ConnectWise Identify enables MSPs and MSSPs to provides risk reports that highlight an SMB's security strengths and weaknesses and threat remediation options.