With the world expected to lose $10.5 trillion annually to cybercrime by 2025, many businesses are working to boost their IT security. Managed service providers (MSPs) are uniquely positioned to help SMBs protect against the biggest cyberthreats they face today. Given that each SMB is unique, it's important that the MSP they choose can offer services tailored to their specific needs.

What are the biggest cyberthreats faced by SMBs today?

Today's businesses face a range of serious cyberthreats, from both the inside and the outside. One of the biggest threats is ransomware, which has increased by an astonishing 232% since 2019. 

Ransomware is malicious software that encrypts a user's data and holds it hostage until a ransom payment is made. SMBs are particularly vulnerable, as many lack the cybersecurity infrastructure needed to protect against this kind of attack. New solutions, like Avast’s Ransomware Shield, are proving highly effective against today's increasingly sophisticated ransomware attacks.

Other threats include data breaches, phishing scams, malware, viruses, and distributed denial-of-service (DDoS) attacks.

Why are SMBs turning to MSPs more than ever?

Safeguarding against cyberthreats can be a daunting task for SMBs, with attackers continuously developing new ways to break through a business’s IT infrastructure. That's why more SMBs are turning toward MSPs. Many are looking for more than just IT security consulting and break-fix solutions. A solution-based model provides ongoing monitoring and proactive maintenance. A break-fix model, on the other hand, requires clients to wait for things to break before attempting a repair.

MSPs have the resources and expertise to provide robust, tailored IT security solutions that meet SMBs' changing needs. For SMBs that usually operate on limited budgets and IT resources, an MSP can be a cost-effective way to obtain the best security solutions.

The importance of a response plan

An estimated 64% of companies across the world have been victims of a cyberattack. No business is safe, which is why the discussion around cyber resilience is more relevant than ever. Cyber resiliency entails evaluating the threat landscape and adopting a security plan that goes beyond simply defending against attacks, and trying to survive when they do occur.

MSPs should be able to provide SMBs with the necessary guidance and support to develop an effective response plan. This should include information on how to identify breaches, contain the damage, assess losses, and restore systems as soon as possible. 

Take your MSP business to the next level

Whether you're an emerging MSP or have been in the industry for many years, it's essential to stay ahead of the game and ensure that your clients have access to the best security solutions available. By delivering tailored services and response plans, you can help SMBs protect against today’s biggest cyberthreats and lock in a secure future. To do so, you need to have a solid partner behind you. Become an Avast Business MSP Partner today and take your clients’ security to the next level while experiencing more recurring revenue and security-selling opportunities.