How Much Should Small to Mid-Size Businesses Budget On Cybersecurity in 2023?


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Budgeting as a small or medium sized business is no easy task. Between employee salaries, to supply chain, to even product management–things can become overwhelming quickly. Cybersecurity is your safety net.

Yes, it will need a piece of the budget pie, but it will be worth it in the end to you. The question you might be asking yourself: How much do I need to budget on cybersecurity as a small business owner? We are here to let you know.


In 2023, it is recommended that small business owners budget 7-9% of their total IT budget on cybersecurity. This may seem like a large number, but when you think about all the possible ways your business could be attacked–cybersecurity is a must.

Deciding How to Budget:

There are various ways you can break down this 7-9%. For example, you could budget:

4% for hardware

2% for software

1% for employee training

.5% for incident response


Or you could do it by yearly costs:

$1200 for hardware

$600 for software

$300 for employee training

$150 for incident response

No matter how you choose to break it down, just make sure you are allocating enough of your budget to cybersecurity. It could be the difference between a thriving business and one that becomes a victim of a cyber attack.

Cyber Attacks on Small Businesses:

Cybersecurity is important for small businesses because they are often the target of cyber attacks. In 2017, 43% of all cyber attacks were against small businesses. This number is only expected to grow in the coming years.

So, what can you do to protect your business? The first step is to have a solid cybersecurity budget in place.

Resources to Help:

If you are not sure where to start, there are plenty of resources available to help you. The Small Business Administration (SBA) is a great place to start. They offer free resources and counseling services to help small businesses with their cybersecurity needs.

The SBA also has a list of certified cybersecurity providers that can help you get started on the right foot.

There are also a number of online resources available, such as the National Cyber Security Alliance and the Small Business Development Center.

No matter where you start, the most important thing is to get started. Protecting your business should be a priority and with a solid cybersecurity budget in place, you can rest assured knowing you are doing everything you can to keep your business safe.

Remember to do your research on cybersecurity and find whatever method and company that works best for you.

Cybersecurity is an important thing for business owners to budget for. By doing so, you are protecting your business from cyber attacks which can be costly and damaging.

There are a number of resources available to help you get started on the right foot, so don’t hesitate to reach out for help. Cybersecurity should be a priority for all businesses!