Small and mid-sized organizations share many of the same everyday operational concerns as large Fortune 500 enterprises, such as: hiring/retaining employees, cash flow, capital expenditures, sales, marketing, competition, product development, industry-specific regulations, etc.., but these will vary by industry and size. These same small and mid-sized organizations, however, still have to deal with the common challenges of handling information security, information management and information technology, typically under much tighter resource constraints.
We live in a digital age. As technologies develop, we are continually faced with new challenges and threats related to information & cyber security, but the fundamental tenets of information security: Confidentiality, Integrity & Availability, have't changed. Small and mid-sized organizations face the common challenges of large organizations: internal and external threats from accidental deletion of data to malicious theft, corruption, deletion and ransoming of data to account & device takeover to natural & man-made disasters. Small and mid-sized organizations typically lack qualified & experienced security engineers for handling the more day-to-day tactical issues, let alone actually having someone in a role of Chief Information Security Officer (CISO) taking a more strategic view of an organization's overall security posture.
Most organizations face challenges around managing information and data: regulatory compliance, legal issues, costs of backup & retention, capturing too much/unnecessary data, not capturing the right data, information scattered across dozens or hundreds of data sources, inconsistent data, determining what is useful information, etc.. Many organizations have no formal policies, procedures and guidelines for implementing and maintaining Information Life-cycle Management, Document & Content Management, Sensitivity & Classification level, Business Analytics, etc... Smaller organizations typically have no formal CIO role in the organization, so this is typically means that no one person in the organization has been assigned as a responsible party for assuring the quality, accessibility and utility of data/information acquired and retained by the organization.
Technology is changing so rapidly that it is almost impossible for organizations, especially small and mid-sized, to keep current. This typically means a lot of organizations won't keep up. They will run on outdated software & hardware, typically well past the anticipated life expectancy, technology that is no longer supported by vendors, technology that goes unpatched and can be easily compromised by threat actors. Small and mid-sized organizations' IT staff are stuck in the continual cycle of acquiring, deploying, maintaining, managing, upgrading and securing on-premises technology/applications/services, that aren't really unique or specific to the needs of the organization.