Small businesses can counteract cyber crime by assessing their risks correctly


A report published in May 2013 by the UK Federation of Small Businesses revealed that cyber crime is costing its 200,000 members a combined £785m a year – or £3,750 for every small business.
Quoted by The Telegraph, Mike Cherry, FSB chairman, said: “Cyber crime poses a growing threat for small firms and it isn’t something that should be ignored. The cost of crime can act as a barrier to growth. For example, many businesses will not embrace new technology as they fear the repercussions and do not believe they will get adequate protection.”
Alan Calder, CEO of cyber security service provider IT Governance, comments, Many SMEs across the UK are failing to implement cyber security strategies that enable them to withstand the ever-growing onslaught of cyber attacks.
“Their inability to assess cyber risks and make informed decisions on how to manage these is undoubtedly an obstacle when determining how to invest in improved cyber security.”
How can small businesses counteract cyber crime?
Calder says, “A professional cyber security risk assessment could help SMEs stop around 80% of cyber attacks and build the resilience to cope with the other 20%, thereby transforming day-to-day practice into recognised good practice.”
The Cyber Security Risk Assessment Service by IT Governance, for example, provides organisations with a no-nonsense, practical assessment of the gap between the minimum recommended security stance established by the UK’s Cyber-security Framework for Business and companies’ actual stance. Businesses are issued with a report and an actionable plan to help them improve their defences in each of the 10 control areas as defined in the Cyber-security Framework for Business.
SMEs can take advantage of the service by booking it online at or by contacting IT Governance on 0845 070 1750.
This website uses cookies. View our cookie policy