Is cyber crime only a big risk for big business or are SMEs under threat too?

SMEs are increasingly becoming a target for cyber criminals - and have always been at risk from rogue or careless insiders. Every business has data or information worth stealing, even if it's just potentially embarrassing or revealing emails between executives. Small and medium sized organisations are not always as well equipped as very big businesses to deal with the fall out. A recent study showed that 60% of small businesses fail within six months of a data breach. A layered approach to cybersecurity and IT protection is both an investment and insurance for an organisation - no matter what size they are.

John Allan, National Chairman, Federation of Small Businesses (FSB), said: “Cyber crime poses a real and growing threat for small firms and it isn’t something that should be ignored. Many small businesses will be taking steps to protect themselves but many others have not recognised the increasing threat and have neither adopted technologies nor strategies to defend against cyber crime. For those that don’t, the cost of cyber crime can be a barrier for growth and in the worst cases, can put a firm out of business. While we welcome action from the government and the wider public sector, there are clear actions that businesses can take to educate and help themselves to counteract cyber crime. The FSB would strongly encourage them to do so.”


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