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The RSM US Middle Market Business Index Special Report: Cybersecurity 2024, presented by RSM US LLP in partnership with the U.S. Chamber of Commerce, has revealed that middle market companies are increasing the proportion of revenue dedicated to cybersecurity. The report also highlights a sense of complacency among many companies amid fatigue after consistently hearing about risks and attacks for several years. The survey data shows that 28% of middle market executives reported their company experienced a data breach in the last year, matching a record high set by the 2021 RSM survey results. Ransomware attacks remain prominent, and vulnerabilities in third-party risk strategies are a concern. Cybersecurity staffing remains a challenge in the middle market, and more than 60% of survey respondents report having two or fewer data security and privacy employees. The report also delves into firms' digital identity strategies and other preventive measures, their cloud migration progress, and their preparedness for emerging data privacy regulations. The survey data that informs this index reading was gathered from 403 respondents between Jan. 8 and Feb. 16, 2024. RSM US LLP and the U.S. Chamber of Commerce have partnered to present the RSM US Middle Market Business Index (MMBI), which is based on research of middle market firms conducted by Harris Poll. The survey is conducted four times a year, in the first month of each quarter: January, April, July, and October. The survey panel consists of approximately 1,500 middle market executives and is designed to accurately reflect conditions in the middle market. RSM is the leading provider of professional services to the middle market, focused on developing leading professionals and services to meet their evolving needs in today's ever-changing business landscape.
