Small to medium-sized businesses (SMBs) account for the vast majority of businesses globally but are often overlooked by developers of security solutions. In particular, these companies do not usually have the same protection as their larger counterparts and are far more vulnerable to cyberattacks.
Integrated Cyber (I-CYBER), a company that specializes in developing security solutions specifically tailored for the SMB market, aims to address this issue. According to I-CYBER CEO, Moshe ben Simchon, the potential of the SMB market has not been adequately tapped.
He notes that SMBs account for almost 70% of the world’s GDP and that they also represent an opportunity for large companies to expand their customer base. Furthermore, he believes that most large companies are not aware of the risk of cyberattacks that SMBs are facing, which could lead to potentially catastrophic effects not only for the companies themselves, but also for their customers.
For starters, Moshe feels that large companies should understand the importance of investing in security solutions for SMBs, as well as the potential benefits that such solutions can offer. This, in turn, could lead to larger companies creating partnerships and acquiring existing security solutions from SMB-focused companies like I-CYBER.
Such partnerships could help accelerate SMB security solutions and also aid larger companies in understanding the SMB market better. Additionally, the lack of awareness around cyber threats that SMBs may face could be overcome with such partnerships, and I-CYBER could play an important role in providing support and advice.
Overall, cybersecurity for SMBs presents a massive, yet untapped market with billion-dollar potential. It is encouraging to see that the potential of this sector is slowly being realized by companies like I-CYBER. Partnerships between SMB-focused security companies and larger entities will only further the reach of security solutions and ensure that companies of all sizes are adequately protected against potential cyberattacks.