Canadian small businesses are facing a cybersecurity problem that is far bigger than many realize. According to a survey from the Insurance Bureau of Canada fewer than half of small and medium-sized businesses (SMBs) believe they are vulnerable to a cyber attack even though cyber crime is hitting global all‑time highs. Only 6% of respondents strongly agree their business is at real risk despite research from Business Development Bank of Canada showing 73% of small businesses have already experienced a security incident.
This gap between perceived and actual risk is one of the biggest challenges managed service providers (MSPs) face when guiding clients through cybersecurity strategies. The threat environment is accelerating, yet many SMBs believe they are simply too small to be targeted or too prepared to be compromised.
The Reality Check Canadian Businesses Need
The IBC survey highlights several troubling findings:
- Only 47% of SMB respondents say they are prepared for a cyber attack.
- Fewer than half have any cyber defense tools in place.
- Just 22% carry cyber insurance and only 12% have stand‑alone cyber coverage.
- Concerns about AI‑driven threats rose from 65% to 72% year‑over‑year.
- Only 45% have policies or training to help employees identify AI‑generated scams.
These numbers tell a clear story: while awareness of cyber threats is growing, action is not keeping pace.
Third‑Party Risk Is Increasing Fast
The rise of cloud services, vendors and outsourced IT introduces new vulnerabilities. As dependence on third parties grows, so does the potential for breaches outside a business’s direct control.
A breach within a vendor environment can still expose sensitive customer data, and SMBs may be held responsible. This makes layered, modernized cybersecurity not optional, but fundamental.
How Pax8 Helps MSPs Strengthen Canada’s Cyber Resilience
Pax8 is built to equip MSPs with the tools, automation and enablement they need to protect SMBs, especially those that underestimate their risk exposure.
Here’s how Pax8 supports partners in advancing client security:
1. A Curated Security Ecosystem
Pax8 offers a Marketplace of vetted cybersecurity solutions from endpoint protection and MDR to identity security, email defense and backup. MSPs can standardize and scale a comprehensive security stack built specifically for SMB needs.
2. Security Assessments That Drive Action
Partners can use Pax8-powered assessments to show clients where vulnerabilities exist, quantify the risk and build business cases for investment.
These assessments help solve the “it won’t happen to me” mindset by grounding conversations in fact, not fear.
3. Education and Training for MSPs and Their Clients
With threats evolving rapidly, continuous learning is essential. Pax8 provides technical training, sales enablement and threat intelligence driven workshops designed to help MSPs position security effectively and keep clients informed.
4. Automation and Operational Efficiency
Cybersecurity must be consistent to be effective. Pax8 helps MSPs automate deployment, policy enforcement, billing and reporting, reducing manual work while improving protection.
Why This Moment Matters for Canadian SMBs
As cyber risks grow more sophisticated, and as AI‑powered attacks become more convincing, the cost of inaction continues to rise. The IBC survey makes it clear: most Canadian SMBs are dangerously underprepared.
MSPs have an opportunity to lead Canada’s cyber‑resilience efforts. By pairing their expertise with the Pax8 platform, they can help businesses close the preparation gap, strengthen defenses and build long‑term trust with clients.
Cyber adversaries are evolving. Canadian businesses must do the same and Pax8 is here to make that transformation easier, faster and more accessible.
