Small Businesses

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A new study of small firms in the UK has found that the majority are prioritising continued business growth over protecting the data of their customers.

This study was carried out by a cyber security company for smaller firms called Defense, and it shows protecting customer data remains low on the list of priorities for them. Nearly one quarter of these firms – 24% in total – stated that they had not invested in security measures at all. Furthermore, 25% told the study that they were currently investing under £1,000 per year in technology designed to keep customer information safe.

Many of the firms that participated admitted that they felt the cyber security dangers had definitely increased for them following the Covid-19 pandemic, with 33% saying this, but 40% also said that this had not been enough to get them to spend more on protection.

Cost was cited as the primary reason for ignoring cyber security by 25% of the businesses. This is certainly a real issue for many after the pandemic, but accountants in Goole or elsewhere may be able to help them save money that can be set aside for security investment.

Speaking to HR News, the Defense CEO, Oliver Pinson-Roxburgh, said:

“In this time of heightened threats and remote work, a low security budget and lack of cyber skills can seriously impact the competitiveness of SMEs.”

To try to tackle this issue, Defense has stated that the initial 100 small firms to apply for its security package Essentials will get it free for six months.

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