Brian Downey highlighted that, according to EU definitions, SMBs generate 50% of the region's GDP, yet they struggle to secure comprehensive cyber protections against increasing threats.
Klaus Gheri critiqued the EU definition of SMBs, suggesting the absence of a dedicated security team or CISO is a more appropriate indicator of a firm's cyber protectiveness.
Stephen McPartland emphasized that a staggering 99% of UK businesses qualify as SMBs, with many lacking even basic cyber hygiene practices amid evolving threats.
The WEF report revealed a significant 'cyber inequity' between smaller and larger businesses, with only 40% of SMBs adopting cloud services compared to 72% of larger firms.
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