Cyber security threats are on the rise, but managed IT services make small business owners highly confident they can navigate these risks, according to a new survey commissioned by Cox Business.

"The reality is small businesses are the biggest target for cyber security bad actors," said Jeff Breaux, executive vice president, Cox Business "It is far less expensive to protect against threats than to react after the fact."  

• Cyber security is a top motivator for businesses investing in managed IT. Forty-two percent of business owners prefer to outsource. Forty-two percent of respondents also dread device viruses, 38% worry about back-up and disaster recovery and 35% fear phishing attacks.
• Forty-two percent invest in managed IT services for their business. Of that group, 71% will invest more this year than they did in 2022.
• Cloud services is the most beneficial managed IT offering, beyond cyber security according to business owners. Of those using cloud services today (desktop as a service, migration, monitoring or infrastructure as a service), 84% feel more confident in their company's network and 86% more confident in data storage.
• The sample of 500 US-based small business owners showed 74% of those with managed IT services feel "confident" or "extremely confident" in their company's ability to navigate cyber security because of that support.

"Managed IT solutions are gaining traction among small businesses as they experience the value of cost and time savings first-hand, yet there are still educational opportunities to dispel common misconceptions," Breaux continued. "Some business owners pushing off managed IT solutions believe their business is too small or the investment is too costly. Even putting cyber security risks aside, with the right partner, managed IT solutions help small businesses unlock ways to improve operational efficiency, clearing the path to accelerate scale and growth."

Go Deeper: Respondents to the online survey included more than 500 small business owners across the US. For more key findings from the Cox Small Business Pulse on Managed IT Services, visit SMBPulse.pdf (coxblue.com).

Why it Matters: Part of Cox's portfolio includes Rapidscale, a platform that simplifies IT. We help lean IT teams manage the technology that is vital to running day-to-day operations so they can stay focused on driving growth. We deliver it as-a-Service, with flexible management options, making technology accessible through our industry-leading management portal, putting the power to scale at their fingertips.