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Market Insights

Small businesses become big targets for cybercriminals

It's time to educate clients to improve security monitoring and mitigate cyber-related losses as employees continue to work from home.

By Britany Malkin | December 28, 2020 at 12:00 AM

In early March, many small business owners allowed their employees to temporarily work from home in an effort to slow the spread of COVID-19. Today, a whopping 80% of businesses surveyed said they have implemented or expanded their work-from-home policies during the pandemic, with 67% considering remote work on a more permanent basis, according to the latest S&P Global Market Intelligence Survey.

In order to support employees working remotely, businesses in the S&P survey said they had to increase spending on information security (28%), communication and collaboration technologies (50%), employee devices and services (43%), information security tools (42%) and network capacity (38%).

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