If we want to reduce the number of successful cyberattacks that target businesses – we need to turn our attention towards small and medium-sized ones because, if a newly released report is to be believed, they are the weakest link in the chain.
The report issued this morning by Business in the Community (BITC) says that 40 per cent of small businesses hadn't changed a thing about their cybersecurity posture in the last 12 months. A third said they didn't have any kind of cybersecurity solutions set up, and 77 per cent have no policies to help them control data and system access.
The report concludes that small businesses, representing 99.3 per cent of all private business in the country, have a huge cybersecurity responsibility.
“We have seen an increase in small businesses being targeted by cyber-criminals in recent years,” said Stephen Worrall, Managing Director at HSB Engineering Insurance.
“Security system gaps can leave small businesses vulnerable to cyber-attacks without them realising, which when exploited can result in small businesses becoming victims of a data breach and potentially causing significant disruptions to their business and onward supply chain.”
BITC urges small businesses to reassess how vulnerable they are to cyberthreats, as these can be quite expensive and damaging to a company. The same report states that the recovery from a cyberbreach can cost up to £8,000.
Image Credit: B-lay