A member of the UK200Group of independent accountancy and law firms has today commented on a new report that has revealed UK small businesses continue to underestimate the impact a cyber-attack could have on their operations.
The Small Business Reputation and the Cyber Risk report, launched by the Government’s Cyber Streetwise campaign, found that amongst those surveyed, less than a third of business owners (29%) who have not experienced a cyber breach, believe the potential damage is an “important consideration”.
Yet for companies who have suffered a cyber breach the impact is long-lasting. One in four (26%) have been unable to grow in line with previous expectations, and almost a third (31%) said it took over six months for the business to get back on track. Quality of service is also a risk; those who experienced a cyber breach found it caused customer delays (26%) and impacted the business’ ability to operate (93%).