Even as cybercrime becomes more prevalent, the majority of SMEs do not consider the issue to be a top business priority. According to a report released by Barclaycard which surveyed over 250 SMEs, just one in five SMEs rank cybersecurity as a major priority.
This figure is troubling after recent reports that cybercrime cost British business over £1 billion in 2015 and that the cyber-attacks on average result in financial losses of between £75,000 to over £300,000. The impact to a business’s reputation can easily lead to a lack of confidence from its customers.
The report also showed that 48% of the SMEs questioned had been attacked at least once over the past year and 10% had been attacked by cybercriminals more than four times over the same period.
Only 13% of the SMEs questioned said that they were confident that their knowledge of cyber security was adequate enough to keep their sensitive data safe.
There is no need for businesses to fall victim to cyber criminals as there are now several schemes designed to assist them in countering the threat.
The Cyber Essentials Scheme is designed to provide all businesses with a clear set of guidelines on how to mitigate the risks posed by internet based threats. The scheme also offers a way for businesses to demonstrate to their customers and investors that they take cyber security seriously.
Signing up to Cyber Essentials also makes sense from a business perspective. With the cyber threat growing, most major companies based in the UK and increasingly overseas expect their suppliers to have cyber security measures in place.
PGI has an on-line user-friendly Cyber Services Portal which will guide organisations through every step of the short process and help to educate and assure small businesses on the cyber threat and how to safely and affordably combat it.
With the cyber security threat set to grow over the course of 2016, governments and organisations need to increase their awareness of the dangers. To assist with this, PGI built Europe’s first Cyber Academy.
The PGI Cyber Academy offers the highest level of cybersecurity training for business and government professionals, delivering a one-stop training environment to combat the growing cyber threat for all industry sectors. For more information on the courses on offer click here