According to a recent report by the Federation of Small Businesses (FSB), UK-based SMBs are enduring significant cyber-attacks that total nearly 10,000 per day.
Respondents indicated that one in five small businesses were the victim of a data breach in the past two years, and the survey identified other ancillary consequences accompanying this incredibly high number. For instance, the threat landscape is both expansive and diverse with businesses reporting 530,000 phishing attacks, 374,000 malware incidences, and 260,000 ransomware attacks.
Moreover, the collective cost of these data breaches exceeds £4.5 billion with the average cost of an attack costing companies £1,300.
Interestingly, the survey found that many companies aren’t equipped to defend against these threats. The research found that 64% of small businesses don’t have a security team, and only 1/3 provided cybersecurity training to their employees.
Partnering with qualified security professionals can help augment your company’s cybersecurity posture, shoring up vulnerabilities to address the significant cyber security risk facing SMBs.