Managed Detection and Response: A solution to SMB cybersecurity challenges

In this article

• Introduction
• Security challenges faced by SMBs
• A powerful solution
• Summary
   

Every year, the Allianz Risk Barometer surveys over 3,000 global risk experts to identify the top concerns for businesses. For the third consecutive year, ‘cyber incidents’ have topped the list.

It's not hard to see why: Ernst and Young reports a 75% increase in cyberattacks over the past five years, while the average cost of a data breach hit $4.88 million in 2024.

With stakes this high, maintaining strong cybersecurity is crucial, but for smaller businesses with fewer resources, it can be tough.

In this article, we'll explore the cybersecurity challenges small and midsize businesses (SMBs) face. We'll also look at how TeamViewer’s Managed Detection and Response (MDR) solution offers SMBs a powerful and affordable way to detect and remediate cyberthreats.

Security challenges faced by SMBs

The high cost of cybersecurity

The days of relying on basic out-of-the-box antivirus software are long gone.

Today’s cyberthreats are not only more common but also much more advanced. To fully protect their IT systems, businesses now need a variety of specialized software solutions. This software is expensive, and so are the professionals needed to run it—in 2024, the average salary for a mid-level cybersecurity professional is about USD $130,000 per year.

The cost of buying software and hiring necessary experts quickly adds up—often going beyond what many SMBs can afford.

The security skills gap

Hiring cybersecurity staff is a challenge for SMBs, not only because it's costly, but also due to a major talent shortage.

Recent reports indicate that the global cybersecurity workforce gap exceeds four million people, and demand is growing twice as fast as the available supply. Larger companies with bigger budgets often scoop up the available experts by offering higher salaries, leaving smaller companies struggling to compete for the talent they need.

Without skilled experts, predicting and preventing cyber incidents becomes much harder, increasing the risk of a breach. What’s worse, businesses without a strong cybersecurity team face higher costs when an attack does happen. According to the 2024 IBM Cost of a Data Breach Report, companies lacking cybersecurity talent have an average breach cost of USD $5.74 million—about 20% higher than the global average.

With fewer resources and smaller budgets, SMBs struggle to find qualified cybersecurity staff. In turn, this leaves them more vulnerable to breaches, which can end up being even more expensive than the average.

SMBs are targeted by cybercriminals

Cybercriminals are well aware that many small businesses lack the budget for advanced cybersecurity tools or the expertise to manage them effectively. This makes SMBs particularly attractive targets. According to recent research by Kaspersky, attackers are increasingly focusing their efforts on smaller companies.

As large corporations continue to strengthen their defenses, SMBs have become the "vulnerable prey" in the cybersecurity world.

While any business can face serious disruption from a cyberattack, SMBs are especially at risk. Without the proper resources, even a single breach can threaten their survival.

A powerful solution