IT security spending by small businesses to reach $1.7 bln in 2007

Small and medium businesses (1-999 employees) are set to spend $1.7 bln on beefing up their security and storage solutions in 2007, up 16% over 2006. Small businesses (1-99 employees) will show a higher growth rate of 17%, followed by medium businesses (100-999 employees) at 14%. IT security spending has increased rapidly ? from 2005 to 2006, IT security spending grew 36% for SBs and 15% for MBs – the highest among IT and telecom categories.