IT | Security

Singapore SMBs Increasing IT Spending

By: Absolute Team | 9/20/2010

Symantec has released partial findings from their 2010 Global SMB Information Protection Survey. The partial release looks at data for Singapore in specific and reveals that Small and Medium Businesses (SMBs) have staggering figures for loss of confidential and proprietary data.

According to the survey, 67% of Singaporean SMBs lost confidential and proprietary data in 2009. As a result, 64% suffered revenue losses, 54% had an impact on their image and 48% saw a dip in customer trust. Given this, it's not surprising that 84% consider data loss a key concern area and 62% consider cyber attacks a potential business risk.

The survey indicates that IT spending right now is focused on the adoption of backup and recovery solutions.

"Last year, a Symantec survey found that security awareness levels were lower and many SMBs did not have even a basic antivirus solution in place. The 2010 survey findings highlight a progressive trend towards SMBs adopting a more comprehensive information protection strategy."

See the rest of the results here.