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UK small businesses hit hardest by cyberattacks

(Image credit: Image source: Shutterstock/lolloj)

UK businesses have suffered a dizzying number of cyberattacks in 2018, but most of them fell on the backs of small businesses. Two thirds of companies with 10 – 49 employees have suffered some form of cyberattack in the past year.

That amounts to roughly 130,000 businesses.

On average, such an event set them back £65 grand. Breaking the figure down, most of it goes for salvaging damaged assets, paying financial penalties and bearing the brunt of business downtime.

All in all, these 130,000 businesses have lost £13.6 billion in the last year alone – on cyberattacks.

These numbers came courtesy of Beaming’s annual survey, which says that phishing is still the biggest threat (25 per cent of all cybercrime events). Ransomware hits hardest on the wallet. Each victim has had to pay, on average, £21,000.

Beaming also says that it’s spotting a disheartening trend – there have never been this many small businesses succumbing to cyberattacks since it started measuring it.

Last year, as we said, it was almost two thirds (63 per cent). The year before – 47 per cent, and the year before – 55 per cent.

“Criminals don’t care how big your business is, everyone is a potential victim and the cost of an attack can be devastating,” said Sonia Blizzard, managing director of Beaming.

“Larger businesses fall victim at the greatest rate because they have more people and more potential sources of vulnerability. However, they also tend to have multiple layers of protection in place to limit the spread of an attack and are able to recover more quickly after one.”

“Small businesses are trusting more data to the cloud and accessing it from lots of locations. This provides greater flexibility and efficiencies, but also adds to the importance of ensuring data is held and transported securely. A specialist ISP can help here by managing a network with the security of business traffic in mind, assisting with the implementation of additional security measures such as managed firewalls and provide advice to clients to enhance the protection on offer. When choosing cloud products, businesses should ensure they have the right connectivity to go with it.”

Image source: Shutterstock/lolloj

Sead Fadilpašić

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.