How much does cybersecurity cost for a company?
- On average, companies allocate 3.2% of revenue for IT costs.
- Small companies budget less than $5 million.
- Mid-sized companies spend $5-$20 million per year.
- Large companies spend $20-$50 million.
Cybersecurity expenses are rising as new technologies and threats emerge. Factors influencing costs include industry, regulations, data sensitivity, infrastructure complexity, and risk tolerance. Businesses can expect to dedicate 0.2-0.9% of revenue for cybersecurity.
Can I start my own cyber security business?
- On average, companies allocate 3.2% of revenue for IT costs.
- Small companies budget less than $5 million per year.
- Mid-sized companies spend $5-$20 million.
- Large companies spend $20-$50 million.
- Cybersecurity expenses are rising as new technologies and threats emerge. Factors influencing costs include industry, regulations, data sensitivity, infrastructure complexity, and risk tolerance.
- Businesses can expect to dedicate 0.2-0.9% of revenue for cybersecurity.
Managed security services provide cost-effective protection for a monthly fee. At minimum, basic business cybersecurity requires multifactor authentication, endpoint detection, and training.
High-risk industries like healthcare, finance, energy, and utilities require more security to protect networks and comply with regulations. Before budgeting, businesses should define cybersecurity goals based on specific needs. Setting aside 0.2-0.9% of revenue for security is common.