Small British businesses spending less than £1,000 on cyber security

By | 24th October 2017

Despite the fact that nearly 20% of all British SMBs were affected by a cyber attack in the past year, only 29% will be spending more than £1,000 on cyber security in the next 12 months. This is inadequate for all but the smallest of organisations, especially in view of the potential cost of a successful cyber attack. Out of the SMBs that were hit by an attack, 21% reported that their costs were in excess of £10,000 and 11% reported costs in excess of £50,000.

Of course, a greater spend doesn’t necessarily mean a greater level of protection. That is why it’s important to get professional cyber security advice. This will identify the most likely threats to your organisiation, as well as its vulnerabilities, and help you prioritise and plan how to deal with these. It may be necessary to allocate budgets to add or replace some of your IT equipment, but often the plan of action will focus on making the processes and procedures with the organisation more cyber secure, and to increase the general cyber security awareness of your staff.


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