IT Security Budget Not A Concern For Most SMBs

Ask yourself this question, and try to be honest with yourself: What is your IT security budget?

Meaning, how much money are you spending from your IT budget for data security?

The reason it’s important that you be honest with yourself with this question is it has recently been revealed that less than 5% of a business’s IT budget goes towards data security.

But why is that? Why do companies not see the value in data security?

Too Small To Be Noticed

There are two answers why, but neither of them are good answers.

The biggest reason why IT security budget falls to the wayside is because a lot of small to medium business owners have the mentality of, “I’m too small to be noticed, it will never happen to me.”

This is, and has always been wrong.

I wrote a report up about companies awhile back who said this exact same thing. They didn’t secure their data properly, so now they are either shutdown or filed chapter 11.

Some may have recovered, but it was a slow and agonizing process and a lesson learned for the businesses affected.

Security Doesn’t Pay Back

The other answer is because there’s no profit yield from increasing the IT security budget. That making a profit is much more important than protecting your assets.

This is also a terrible reason to ignore good data security.

Just because you are not seeing a return on increasing the budget on data security does not mean you won’t see the fruits of your labor later. This includes data recovery, encryption, locking it down so no one can take it.

In the long term having good data security will make sure you don’t see a significant loss of money.

Much like the companies who said they will never be hit by attackers and have their data stolen they lost everything, including the money that went into the company from having their data stolen.

Make Room For Your IT Security Budget

I can’t stress enough the importance of good data security.

For those of you who have put a significantly higher amount than 5% of your IT budget into data security, good on you! You’re ahead of the game and will not regret doing so.

For everyone else however who feel there’s no value in putting more security in place, let the events of other small businesses affected by lack of data security be a cautionary tale to you.

Think it over, get more IT security.

If need be hire a security consultant to look over your network and let him tell you what you need to do. Perhaps he will have a solution for you that’s reasonable within your IT budget and still secures your data.

Have you accounted for an IT security budget within your overall budget? If so, how much of your budget allows for data security? If not, do you plan to? Share your thoughts in the comments below.

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