SME cyber attacks on the rise

Research from the Department for Business Innovation and Skills (BIS) shows the number of cyber attacks hitting small firms increasing over the last year.

According to the study, 87% of small businesses surveyed experienced a security breach, up 10% on a year earlier.

In response, the Technology Strategy Board has extended a scheme to allow small and medium-sized enterprises (SMEs) to bid for up to £5,000 to improve their cyber security.

BIS is also publishing a guide to help SMEs  improve cyber security and make it part of their business risk management process.

Universities and Science Minister, David Willetts, comments: “The package of support we are announcing today will help small businesses protect valuable assets like financial information, websites, equipment, software and intellectual property, driving growth and keeping UK businesses ahead in the global race.”

The research also reveals that:

• the average cost of the worst security breach for small organisations was between £35,000 and £65,000
• 57% of SMEs surveyed report staff-related cyber breaches, up from 48% a year ago.