01732 759725 17 magazine RESEARCH Cyber threat facing UK SMEs grows in last 12 months as one in four admits to being breached UK SMEs face growing cyber threat have been subject to password attacks (24%) and cloud security issues (23%). Yet nearly two thirds (61%) lack confidence in their ability to deal with and mitigate security risks. Given this, it is surprising that three out of five UK small businesses say their IT security budget will not be increased this year. The pan-European research surveyed 5,770 professionals responsible for purchasing IT in their SMEs on confidence in IT security capabilities and barriers to IT security investment over the next 12 months. It found that losing money, decreased customer confidence, and negative impact on the brand are the top business concerns when it comes to the impact of an IT security breach. Colin Blumenthal, Vice President, IT Services at Sharp Europe, said: “Businesses operate in a complex digital environment, which poses increasing IT security challenges for companies of all sizes. For smaller businesses, without large IT resources, the risks can feel even more daunting. Threats are constantly changing and trying to identify and prevent them all can leave those in charge feeling concerned, confused and frustrated. “Every business, regardless of size, should do everything they reasonably can to protect New Sharp research finds that one quarter of UK SMEs have been impacted by computer virus attacks, yet nearly 60% say their IT security budget will not be increased this year Nearly four in ten (38%) are more worried about cyber threats than a year ago and despite feeling well prepared, three out of five lack confidence in their ability to deal with the growing risks Against a challenging economic backdrop and well publicised cyber-attacks, concerns about cyber threats amongst UK small and medium sized businesses (SMEs) have risen significantly in the last year as they consider the impact on brand, reputation and revenue. According to new research, nearly four in ten (38%) are more worried about cyber security threats than a year ago, with over a quarter of businesses admitting to some form of security breach. Research commissioned by Sharp Europe, a provider of business technology products and services to SMEs across Europe, found that around one third of businesses had had their operations impacted by a cyber security breach. These breaches include phishing (31%), malware (30%), data loss (30%), and computer virus attack (25%). In addition, nearly a quarter their data and ensure their connectivity, whether through networks or devices, is as secure as possible. Seeking expert advice can help ensure the right IT security decisions are being made, a holistic security view is being taken, and that solutions are always up to date.” Concern is being amplified by issues such as the rise of hybrid working and employees using their own devices. Worryingly, only 53% of SMEs in the UK say they have encryption in placeand only 58% have a strong password policy. For more insights and advice on cyber security for SMEs, please visit https://www.sharp.co.uk/ sme-cybersecurity-exploring-theconfidence-gap. Every business, regardless of size, should do everything they reasonably can to protect their data and ensure their connectivity
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