Cyber security reports usually present their findings from a corporate point of view; they provide stats and figures about how organisations respond and react to specific questions. But what if the focus of the analysis shifts to consumers? The Small Business Reputation & The Cyber Risk survey (conducted by KPMG) gives us valuable information about what consumers think about cyber security.
Growing concern about stolen data
Consumers in London are the most worried about their sensitive data being stolen by cyber criminals – 48% claimed to be “extremely concerned”. Their concern might increase if they knew that 6% of London’s SMEs don’t have online security measures in place (admittedly, the national average is 3%, but 6% is still hardly a glowing endorsement). There is little trust in SMEs either – only 9% of consumers think they are completely prepared for a cyber attack.
Organisation size matters
In the North West, the source of worry is linked to the size of the company: 69% of consumers doubt SMEs are as cyber secure as big corporations (which is 9% above the national average). Their doubts are legitimate: SMEs are underestimating the risks of being attacked. They believe that being ‘small fish’ in the vast sea of organisations will prevent them from being the target.
SMEs and cyber security – what’s at stake?
89% of SMEs that have been hit by a breach said that a cyber attack results in reputational damage. For a small company, reputation is everything. Such damage can diminish the organisation’s place in the industry, cause it to lose customers and suppliers, and in the worst cases lead to business closure. Even with a tight budget, though, there is a way to be cyber secure and prevent around 80% of cyber attacks.
All the information you need in one click
Ever heard about the Cyber Essentials scheme? If you haven’t, or if you have but want to read more, download this guide to discover what SMEs are underestimating, and how they can stay on track and even improve their business efficiency by adopting the Cyber Essentials scheme.