Small- and medium-sized businesses (SMBs) are increasingly turning to cloud technology to drive efficiency gains, enhance customer experiences, and improve remote work capabilities. With the desire to compete with larger enterprises, SMBs recognize the need to adopt the innovative technologies that are fueling growth in the business world. However, a recent survey conducted by AWS has revealed a significant gap in cybersecurity measures among SMBs, posing a serious risk to their operations.
Lack of adequate cybersecurity measures in SMBs
The AWS survey of 800 C-suite executives has highlighted a troubling trend among SMBs – the failure to adequately address cyber risks. Shockingly, more than one-third of SMBs surveyed admitted to not prioritizing security within their organizations. Additionally, over 40% of these SMBs have yet to provide security training to their employees. This lack of focus on cybersecurity leaves SMBs vulnerable to potential attacks and data breaches.
SMBs’ desire for enterprise-level technologies
Despite the shortcomings in cybersecurity, one aspect where SMBs are showing promise is their investment in technology. SMBs recognize the need to keep up with their larger competitors and are willing to make the necessary investments in innovative technologies to level the playing field. Cloud adoption allows SMBs to tap into the solutions and capabilities that have facilitated enterprise growth and innovation.
Incidents Faced by SMBs in the Last Year
The unfortunate reality is that a significant number of SMBs have already experienced cybersecurity incidents in the past year. Nearly half of the surveyed businesses stated that they had fallen victim to such incidents. These incidents can range from data breaches to ransomware attacks, causing substantial financial and reputational damage. It is imperative for SMBs to address cybersecurity to prevent such incidents and mitigate their potential consequences.
Misconceptions Regarding Cloud Security
One of the primary reasons SMBs neglect to prioritize cybersecurity is the misconception that securing the cloud is costly and requires a large team of cybersecurity specialists. However, this notion is far from the truth. Hyperscale cloud service providers, like AWS, build robust security features into their platforms to ease the burden on customers and protect their own reputations. In many cases, SMBs can enhance their security by simply checking a box, enabling essential security measures.
Furthermore, SMBs should be aware that their on-premises IT skills are highly transferable to the cloud. According to David Schreiner, an expert in cloud migration, approximately 80% of on-prem IT skills can be applied to the cloud environment. This means that SMBs can leverage their existing IT expertise and minimize the perceived complexity of migrating to the cloud.
The Importance of Two-Factor Authentication and Secure Account Usage
If there is one cybersecurity practice SMBs should prioritize, it is the implementation of two-factor authentication (2FA) to safeguard their accounts. 2FA adds an additional layer of security by requiring users to provide a second form of identification beyond just a password. This simple, yet effective measure greatly reduces the risk of unauthorized access.
Furthermore, SMBs should avoid using their root accounts for daily operations. Root accounts have elevated privileges and should be reserved for administrative tasks. By creating individual user accounts with appropriate access levels, SMBs can limit the potential damage in case of a cyber incident.
While SMBs are embracing the cloud to drive their businesses forward, they must not overlook the critical aspect of cybersecurity. The findings from the AWS survey suggest that many SMBs are failing to adequately address cyber risks and protect their operations. By prioritizing cybersecurity measures, adopting enterprise-level technologies, and dispelling misconceptions about cloud security, SMBs can ensure their journey to the cloud is secure and successful.