Almost half (48 per cent) of Britain's small businesses were hit by cyber-crime in the last year, with 10 per cent targeted many times.
Despite this only one in five see cybersecurity as a business priority, and just 15 per cent are confident that they have adequate measures in place to prevent cybercrime, according to a Barclaycard-sponsored study.
Ten per cent of the 250 small businesses surveyed have never invested in improving website security.
The consequences of cyber-attack include business disruption, lost sales, recovery of assets, fines and compensation.
Andy Herrington, head of cyber professional services at Fujitsu UK and Ireland, said that SMEs need to realise that they’re a target of DDoS, hacking and malware attacks just like bigger firms.
“Small business are often part of larger organisations’ supply chains and are therefore a target entry point. Successful small businesses should recognise that good basic security practice is a ‘differentiator’ for them as a supplier and will be key in building the trust of their clients,” he added.
Geoff White, an underwriter at Lloyd’s, said: “The Barclaycard survey findings that SMEs are still not prioritising cyber security is disappointing. Although many UK businesses are not aware of how exposed they are, technology is so fundamental to how businesses run that cyber-attack is a risk regardless of size or industry.
“There’s no such thing as perfect cyber security, and, with the introduction of the new EU regulations, small businesses will be financially impacted." ®