- 87% of small firms (up 10%) experienced a security breach last year.
- Affected companies experienced around 50% more attacks on average than a year ago
- The average cost of the worst security breach for small organisations was between £35,000 and £65,000 (between 450,000 and £850,000 for a large organisation).
- Several individual breaches cost more than £1 million
- 63% of small businesses (up from 41% a year ago) were attacked by an unauthorised outsider.
- 81% of respondents reported that senior management had not been able to put in place effective security, even though it was classed a high priority
- 84% of large businesses report staff-related cyber breaches (the highest figure ever recorded) and 57% of small businesses (up from 48% a year ago)
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BIS offers funding to counter cyber attacks, which cost SMEs up to 6% of turnover each year
The Department for Business, Innovation and Skills (BIS) is offering ‘innovation vouchers’ up to the value of £5,000 for SMEs to improve cyber security. Research revealed last month that cyber-attacks are increasing, and can cost a small business up to 6% of its turnover each year. The report makes sobering reading: