Cybersecurity Management in a Recession (2023)

The consensus view is that the economy will fall into arecession in 2023. If the analysts' predictions come true, cybersecurity companies face a series of serious challenges.

In this post, we discuss the challenges of managing cybersecurity during a downturn and explain how the LimaCharlie platform can be used to help cybersecurity companies and their clients weather the storm.

Why recessions matter for cybersecurity

When the economy enters a recession in 2023, cybersecurity companies will quickly find themselves in a changing market, and these changes will affect both security and business:

Security incidents are unlikely to decrease in an economic downturn.

Threat actor economies show no signs of slowing downCyber ​​attacks on the riseeven when legitimate companies cut budgets and lay off jobs. This is one of the reasons why cyber security is often promoted as such.recession proofIndustry. If the economy goes into recession next year, cybercriminals could be the only group that continues to expand.

Customers have to spend less money.

It may be a bit of a no-brainer, but companies that are going through tough economic times will have less money to spend overall. It's true, as George Kurtz, CEO of CrowdStrike, saysrecently noticed, cybersecurity is no longer "a discretionary item," but that doesn't mean security budgets are unlimited. Cybersecurity companies will work with clients who have fewer resources for security.

Security professionals will be forced to make difficult decisions.

Less spending means that security teams and business decision makers at cybersecurity companies have to make some tough decisions. You will need to find creative ways to balance what customers can afford with what is truly best for your cybersecurity posture. On the business side, cybersecurity companies will feel pressure from customers to compete with other vendors on price, a marketing of security services that is not good for security or business.

(Video) Can you find a recession proof Cybersecurity job?

Cybersecurity companies need to protect themselves.

Cybersecurity may be more recessionrobustthan other industries, but no industry is completely recession-proof, and security companies will feel the pinch when the economy slows. The good news for cybersecurity companies is that they will most likely have more options than other companies and can avoid layoffs. However, security companies still need to find ways to reduce internal spending to avoid the worst case scenario of layoffs.

The competitive landscape will be challenging, but full of opportunities.

As mentioned above, a recession means that security companies will feel increased cost pressures. But while this presents a challenge for existing customers, it can also be a great opportunity for smaller, nimbler companies to win business.Legacy-Cybersicherheitsanbieter.

How LimaCharlie can help

We believe that cybersecurity companies can thrive, and even thrive, in a downturn. Our proprietary platform includes a number of features and capabilities that will be very useful to security professionals working in an economic downturn. Here are some ways LimaCharlie can help security companies meet the challenges ahead:

A way to reduce spending on expensive tools.

SIEMs are essential, but notoriously expensive. This is a problem at any time, but even more so in a recession.

The challenge for security teams trying to control SIEM results is that it's hard to know what data to send to your SIEM and what data to filter. If you use a SIEM as a data lake and just sendall, costs get out of control very quickly. But if you start filtering dates to make your spending a little more sensible, you risk missing out on information you might need in the future.

LimaCharlie offers granular control overwhere the endpoint telemetry goesand alsogives you free, no-loss retention of all telemetry data for one year. This combination means that LimaCharlie can be configured to act as the middle layer between endpoints and SIEMs, sending only the most important data to the most expensive solution. If it turns out that you later need to access some telemetry data that you didn't send to SIEM, you can because LimaCharlie has stored all of the unsent data in a fully searchable format.

(Video) Top 7 Recession-Proof Cybersecurity Skills To Master In 2023 And Beyond

How this works in practice is explained in more detail inReduce spend on Splunk and other expensive data security solutions with LimaCharlie.

"The ability to store telemetry data for a year without a massive cost is a tremendous benefit." Glenn Starkman, CEO - Soteria Security Solutions

Competitive SLAs for DFIR services.

It is useful to be able to offer attractive service level agreements for incident response work. However, this comes at a price, because to ensure a rapid response, a cybersecurity company must be present at all endpoints in a customer's fleet.

LimaCharlie's usage-based billing option solves this problem for incident responders by allowing them to resubmit the deploymentrestingEDR sensors at almost zero cost. This type of "threshold" implementation is a great way for DFIR teams to deliver highly competitive SLAs at a fraction of the price of other vendors.

For more information on this LimaCharlie use case, see:How does bed service work with LimaCharlie?

price predictability.

When trying to attract new customers in a downturn, cybersecurity vendors will be dealing with buyers who are much more price conscious than usual and who are particularly wary of sudden price increases or unforeseen costs. The best way to put a potential customer at ease is to offer predictable and transparent pricing.

(Video) How To Survive a Market Recession for Cyber Security Professionals

If you use LimaCharlie as the EDR, you can easily do this. Our own pricing model is designed to be as transparent and predictable as possible. There are no contracts, fixed minimum amounts, capacity planning or pricing models. Everything is usage-based and usage-based, which is why we often say that LimaCharlie is like AWS for cybersecurity.

With LimaCharlie you always have full control over your security tools and infrastructure; the ability to scale up or down at will; and a clear picture of what you'll spend no matter what changes you make. You can pass on the benefits of this flexibility, transparency, and predictability to your own customers. Try ours to get an idea of ​​how easy it is to predict prices with LimaCharlieprice calculator.

Automation for more productivity.

This is related to something we talked about quite a bit (and is self-explanatory, so we won't go into too much detail here). But it is worth noting that one of the main advantages of aEngineering-focused platformlike LimaCharlie is that it is designed to automate security workflows.

We usually discuss security automation in the context of DevSecOps best practices or building scalable security solutions, but one of themOthersA big advantage of automation is that it is very efficient. This, of course, offers some important benefits in terms of productivity and cost savings.

In the coming year, companies in all industries, including cybersecurity, will be more competitive by using resources wisely, eliminating repetitive tasks, and allowing their employees to focus on creating value for customers.

“By using the LimaCharlie APIs to do the heavy lifting, we are able to automate a significant portion of the tasks required for the day-to-day operations of the platform in a scalable, repeatable, and self-documenting manner.” Paul Ihme, Co-Founder and CEO – Soteria Security Solutions

(Video) Why Cybersecurity Is A Recession Proof Career

Solve niche problems with little investment.

In a recession, customer retention is key. Businesses of all kinds are under pressure to address customer issues and fulfill requests quickly and effectively.

However, this can be challenging for security teams, as solving a narrow problem often requires additional tools or infrastructure. Security vendors are understandably reluctant to make big changes or commit to new vendors to do so.

LimaCharlie helps the security teams by giving them thebuilding blockscybersecurity, on demand and with complete transparency: an approach we callSecurity infrastructure as a service. With a catalog ofMore than 100 cybersecurity features, means that LimaCharlie can be used to solve problems for customers without making a huge commitment and without paying for built-in features that are not needed. It's a way to say yes to customers more often, but in a responsible and measured way.

Learn more

To experience how LimaCharlie can help manage cybersecurity in an economic downturn,Try LimaCharlie for freeobook a demohoy.

If you want to talk about your needs in more detail, or if you want to talk about a use case that hasn't been covered in this post, we're always available to chat about ours.Community-Slack-Channelor during our regular business hoursweekly office hours.

*** This is a syndicated blog from Security Bloggers NetworkLimaCharlies Blogwritten byLimaCharlies Blog. Read the original post at:

(Video) 3 Recession Proof Cyber Security Roles in 2023


Will cybersecurity be affected by recession? ›

It looks unlikely that the cybersecurity sector will escape entirely the ravages of the recession. Demand for skilled professionals will remain high, but with cyber budgets being eaten away, there will be less cash to go round, forcing businesses to prioritize.

Why cybersecurity is recession-proof? ›

Even in a down market, a company can no more reasonably stop using cybersecurity technology than they can cut off their internet or electricity. Hackers and criminals do not care if businesses are tightening their belts ahead of a recession.

Is the IT industry recession-proof? ›

What has become clearer and clearer, however, is that one area which is more resistant to recessions is tech/information technology. According to the Bureau of Labor Statistics, tech-related jobs are projected to continue growing during the next decade.

What investments do well in a recession? ›

That said, if you have cash to invest, you may want to consider buying recession-friendly sectors such as consumer staples, utilities and healthcare. Stocks that have been paying a dividend for many years are also a good choice. These tend to be long-established companies that can withstand a downturn.

What will cyber security look like in 10 years? ›

Cyber Security Job Outlook for the Next 10 Years

According to the Bureau of Labor Statistics, the information security analyst career is expected to grow by a whopping 31% between now and 2029. This is much faster than the average of all other careers. Technology will always be a requirement from now on.

Who will be most affected by recession? ›

5 Industries Most Affected by Recession and How They Can Thrive During an Economic Downturn
  • Retail. According to economists, the retail industry is among the industries most affected by recession in 2023. ...
  • Restaurant. ...
  • Travel & Tourism. ...
  • Real Estate. ...
  • Manufacturing.
Nov 28, 2022

What is the most recession-proof industry? ›

Recession-proof industries to consider for your portfolio
  • Consumer staples. ...
  • Guilty pleasures. ...
  • Budget businesses. ...
  • Shipping and goods transportation. ...
  • Utilities. ...
  • Healthcare. ...
  • Information technology. ...
  • Communication and digital services.
Nov 22, 2022

What is the weakest point in cybersecurity? ›

The Human Factor

So, it is common for employees to increase their digital footprint without being aware of the risks involved. We hear this repeatedly: “Humans are the weakest link in cybersecurity.” This negative characterization of human nature is deeply ingrained in the cybersecurity industry.

Will cybersecurity be in demand in 2030? ›

The global cyber security market size is projected to reach USD 500.70 billion by 2030, registering a CAGR of 12.0% from 2022 to 2030, according to a new study by Grand View Research.

What jobs go first in a recession? ›

The jobs that are the “first to go” when a recession hits are the ones that depend on consumer spending and people having copious disposable income, says Kory Kantenga, a senior economist at LinkedIn. Retail, restaurants, hotels and real estate are some of the businesses often hurt during a recession.

Will tech jobs survive the recession? ›

Are Tech Jobs Recession-Proof? The short answer is no; you won't find a tech job that's completely safe from recessions. But certain tech jobs are known to survive recessions relatively well since they are responsible for the infrastructure that protects other industries from economic turmoil.

Will recession affect IT industry? ›

Hence any recession or slowdown in the US can have a cascading effect on Indian IT growth. As these US companies scale down their budgets in light of the recession there, there will be a direct decline in contracts with Indian IT companies.

How to become a millionaire during a recession? ›

3 Ways to Get Rich During a Recession
  1. Invest as much as you can. The easiest way to get rich during a recession is to invest as much money into the stock market as you can. ...
  2. Protect your income. Stable income is a key part of personal finance success, including building wealth. ...
  3. Cut back on expenses.
Jan 14, 2023

How do you make passive income in a recession? ›

That's why I asked financial experts to share some recession-proof passive income streams that might be worth considering in 2022.
  1. Invest in self-storage. ...
  2. Rent out a popular item. ...
  3. Build a real estate portfolio. ...
  4. Self-publish books. ...
  5. Open a savings account.
Jul 3, 2022

How can I make a lot of money in a recession? ›

During a recession, you have the chance to buy a business that is in loss or not in a good state. Thus buying a new business and investing cash in it can be the best way to keep the business and former owners float. In this way, you save good businesses and make money.

What is the cybersecurity trend for 2023? ›

Gartner, Inc. predicts that by 2023, "65% of the world's population will have personal data covered under modern privacy regulations, up from 10% in 2020." In the U.S. alone, five major states will have new comprehensive data privacy laws rolling out in 2023.

Will AI replace cyber security jobs? ›

The answer is yes and no. While cybersecurity automation is necessary in today's vast threat landscape, its current functionality will not replace the role of cybersecurity professionals. The use of cybersecurity automation is undoubtedly on the rise.

Is cybersecurity a good career change at 40? ›

It is never too late to start a career in cybersecurity — this may sound cliché, but it holds a lot of truth. If you are passionate about the topic and are ready to put in the work to acquire the skills and knowledge needed, anyone, regardless of educational background, can break into cybersecurity.

What should you not do in a recession? ›

For example, you'll want to avoid becoming a co-signer on a loan, taking out an adjustable-rate mortgage (ARM), or taking on new debt. Workers considering quitting their jobs should prepare for a longer search if they decide to find a new one later.

Who prospers in a recession? ›

What businesses do well in a recession? Due to elasticity of demand, industries not impacted by recession are usually in essential services, like health care, senior services, grocery stores and maintenance such as plumbing and electrical.

How long do recessions last? ›

Recessions can last from a few weeks to several years, depending on the cause and government response. Data from the National Bureau of Economic Research shows that between 1854 and 2022, the average recession lasted 17 months.

What businesses boom in a recession? ›

Businesses in the home improvement contracting, auto repair, childcare and accounting industries do well in a recession. Suffice to say, most consumers deem these services as essential and will keep spending their money on them, rather than wait for better economic conditions.

What 2 businesses are recession-proof? ›

Recession-proof business ideas
  • Health Care and Related Services. ...
  • Grocery and related businesses. ...
  • Tax and accounting services. ...
  • Financial advisory services. ...
  • Supply chain and delivery businesses. ...
  • Daycare and childcare needs. ...
  • Auto maintenance businesses. ...
  • Home hardware stores.
Dec 22, 2022

What companies thrive after a recession? ›

Different types of businesses that thrive during a Recession
  • Childcare. Daycare will always be in demand as long as parents need someone to care for their children while they work. ...
  • Repair Services. ...
  • Funeral Homes. ...
  • Trash Haulers. ...
  • Cigarettes and Alcohol.
Nov 12, 2022

What is the #1 cybersecurity threat today? ›

Phishing is a type of social engineering attack that has become one of today's most common and malevolent cybersecurity attacks. Phishing occurs when a hacker uses a false identity to trick someone into providing sensitive information, downloading malware, or visiting a site containing malware.

What is the biggest risk in cyber security? ›

1) Phishing Attacks

The biggest, most damaging and most widespread threat facing small businesses is phishing attacks. Phishing accounts for 90% of all breaches that organizations face, they've grown 65% over the last year, and they account for over $12 billion in business losses.

What will cybersecurity look like in 2025? ›

Cybersecurity Ventures predicts the cyberinsurance market will grow from approximately $8.5 billion in 2021 to $14.8 billion in 2025, and exceed $34 billion by 2031, based on a CAGR (compound annual growth rate) of 15 percent over an 11-year period (2020 to 2031) calculated.

Is 30 too old for cyber security? ›

It is common for cybersecurity roles to pay more than six figures to people with some quality IT certifications and just a couple of years of experience. Maybe you're in your 30s, 40s, or even 50s, and you think you're too old to make a big career change. We're saying – no, you're not!

What is the next big thing in cyber security? ›

Machine learning has the potential to help organizations not only detect threats but also mitigate them before they have a chance to impact their operations. It is clear that artificial intelligence or machine learning is the future of cybersecurity.

What industries are recession-proof 2023? ›

Some recession-proof industries include healthcare, food manufacturing and supply, infant care and education, repair services, financial services, legal services and others.

What industries are recession-proof 2022? ›

Healthcare, IT (freelancers and software development companies), and the education sector are among the most recession-proof industries out there.

What tech jobs are at risk during a recession? ›

Looking for Job Security During a Recession?
  • Cyber Security Analyst. ...
  • Cloud Administrator. ...
  • Software Engineer. ...
  • Artificial Intelligence Specialist. ...
  • Data Engineer. ...
  • Cloud Architect. ...
  • Financial Analyst. ...
  • Tech Support.

What jobs will not be in demand in 2030? ›

5 jobs that will disappear by 2030
  • Travel agent. It amazes me that a travel agent is still a job in 2020. ...
  • Taxi drivers. ...
  • Store cashiers. ...
  • Fast food cooks. ...
  • Administrative legal jobs.
May 30, 2022

Will the tech industry be oversaturated? ›

Available jobs in the industry grew by 207,000 in 2022 and have increased every month for the past two years. In light of these trends, you can't safely say the job market is saturated, at least on an overall scale.

Which industry is not affected by recession? ›

FMCG industry

FMCG products are sold quickly as the demand is non-elastic. Regular daily items like detergent, toothpaste, skin care products etc., are such basic necessities that can't be avoided. This sector deals with necessity products.

How long is the 2023 recession expected to last? ›

That's the prediction of The Conference Board. But some economists project the U.S. will avoid a contraction in GDP altogether.

Will 2023 be a great recession? ›

Is it possible that a recession will hit in 2023? Absolutely. But the likelihood of a first quarter recession is pretty low. Right now, unemployment levels are almost the lowest they've been in 20 years, and consumer spending has yet to decline in a meaningful way.

Are most millionaires made in recession? ›

You'll need to be willing to shift your mindset from surviving to thriving and rethink a few of your business strategies, but the results don't lie. More millionaires are made in recessions. The question is: Are you brave enough? Every business has room for improvement behind the scenes.

What is the safest asset during stagflation? ›

Gold and silver. Gold is often used as a hedge against inflation since its value tends to increase even as the value of other currencies drop. While investments in gold and other precious metals may not generate income, they can help to offset stock market risk during stagflation periods. Commodities.

How much money should you hold in a recession? ›

Having more saved beyond the three to six months' worth of living expenses is also a good idea, especially during recessions. It can provide an additional cushion during this time. Try aiming for between nine and 12 months of living expenses, if possible.

Who got rich during the Great Depression? ›

Not everyone, however, lost money during the worst economic downturn in American history. Business titans such as William Boeing and Walter Chrysler actually grew their fortunes during the Great Depression.

Is it better to have cash or property in a recession? ›

In addition, during recessions, people with access to cash are in a better position to take advantage of investment opportunities that can significantly improve their finances long-term.

Is cash King during recession? ›

For investors, “cash is king during a recession” sums up the advantages of keeping liquid assets on hand when the economy turns south. From weathering rough markets to going all-in on discounted investments, investors can leverage cash to improve their financial positions.

What sells well during a recession? ›

What makes a product recession-proof?
  • Consumer staples. There are some items that you need no matter what the stock market is doing. ...
  • Camping gear. Lavish vacations to distant lands are not as attractive during recessions. ...
  • Automotive parts. ...
  • Coffee and tea. ...
  • Tupperware. ...
  • Candy. ...
  • Cosmetics. ...
  • Pet care products.
Aug 8, 2022

What do rich people invest in during a recession? ›

A stock fund, either an ETF or a mutual fund, is a great way to invest during a recession. A fund tends to be less volatile than a portfolio of a few stocks, and investors are wagering less on any single stock than they are on the economy's return and a rise in market sentiment.

What goes up in price during a recession? ›

Precious metals, like gold or silver, tend to perform well during market slowdowns. But since the demand for these kinds of commodities often increases during recessions, their prices usually go up too.

What is the future of cyber security? ›

Machine learning has the potential to help organizations not only detect threats but also mitigate them before they have a chance to impact their operations. It is clear that artificial intelligence or machine learning is the future of cybersecurity.

Is there a future in cybersecurity? ›

In the future, cybersecurity will be a top priority for every company, and the cybersecurity industry is expected to grow by 44% in the next five years. As the industry grows, it will require more professionals and companies to hire cybersecurity professionals.

What is the biggest cybersecurity threat 2022? ›

According to the report, some of the leading cyber risks and cybersecurity trends in 2022 include:
  • Malware on the rise. ...
  • Rise of ransomware attacks. ...
  • Zero-day attacks. ...
  • Remote code execution. ...
  • Attack surface expansion. ...
  • Digital supply-chain risks. ...
  • Cybersecurity mesh. ...
  • Zero trust.
Dec 8, 2022

Is cyber security in demand in future? ›

It is one of the fastest-growing professional fields. Currently, the demand for cybersecurity professionals is at a high level.

What are the cybersecurity technology trends for 2023? ›

Threat detection and response tools like endpoint detection and response (EDR), extended detection and response (XDR) and managed detection and response (MDR) can analyze historical data using artificial intelligence and machine learning algorithms to spot unusual patterns as well as leverage threat intelligence and ...

Is cybersecurity a stable job? ›

Cyber security is an ever-growing industry. It is projected to grow by 11% in 2023 and by 20% in 2025. This is a fast-paced career with a median salary of $81,000.

Is cybersecurity a good long term career? ›

In fact, cybersecurity is a strong career choice to explore right now because the U.S. Bureau of Labor Statistics predicts that employment of information security analysts will grow 31 percent from 2019 to 2029 – while the average growth rate for all other jobs is only 4 percent.

Will cyber security salary go up? ›

Average annual salary for cybersecurity roles increased 5.29% from $107,580 (2020) to $113,270 (2021). # of people in cybersecurity roles increased 13.93% from 138,000 (2020) to 157,220 (2021).

What are the 3 major threats to cyber security today? ›

Types of Cybersecurity Threats
  • Viruses—a piece of code injects itself into an application. ...
  • Worms—malware that exploits software vulnerabilities and backdoors to gain access to an operating system. ...
  • Trojans—malicious code or software that poses as an innocent program, hiding in apps, games or email attachments.

Is cyber security over saturated? ›

There are very few people with extensive backgrounds in cybersecurity, and with the confirmed skills shortage in the U.S., the field is far from oversaturated. Many people in the field transition from other areas of IT or computer science.

Is cyber security career worth 2022? ›

There are many benefits to having a career in cybersecurity. The most important benefit is that you are going to have a job for life. There is a high demand for cybersecurity professionals and the demand will only continue to grow. Another benefit is that you can find a career in cybersecurity anywhere in the world.


1. Analyst View: How To Manage Info/Cybersec Careers in a Pandemic Recession
(RSA Conference)
2. Cybersecurity stocks ‘a tech staple’ even in recession, strategist explains
(Yahoo Finance)
3. 3 Recession-Proof Tech Careers In 2023
(Boyd Clewis: The Six-Figure Tech Career Coach)
4. Why Cybersecurity Is Recession Proof
(Tech Is The New Black)
5. How Are Cybersecurity Companies Navigating the Current Economic Crisis?
(Spiceworks News & Insights)
6. Kickstart Your Tech Career in 2023: A Guide to "Recession-Proof" Life
(My IT University)


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