More than half of SMEs experienced a rise in cyberattacks, according to research from Vodafone

According to Vodafone’s latest report, fifty-four percent of small and medium-sized enterprises in the United Kingdom have gone through cyber attacks in the last few months. Back in 2020, it was reported that 39 percent of these businesses experienced cyber attacks, which indicated that the figures would go up as businesses become more dependent on digital technology.

The company also revealed that 33 percent of such enterprises experienced a growth in the number of attacks, whereas only 18 percent of them observed a decline.

The research report was based on the responses collected from over 500 different SME owners in the U.K. Results showed that 54 percent of them observed an increase in cyberattacks last year.

Nineteen percent of the survey participants said that these attacks can cause a loss of 4200 pounds to the business, which under the current circumstances is hard to get over with.

Data from the Office for National Statistics highlighted the fact that more than one-third of enterprises are following a hybrid model. When owners were asked about having protection software, eighteen percent of them denied having such software, while five percent were unaware whether they had it or not. Meanwhile, 28 percent of them knew about the cyber-essentials scheme from the U.K. government.

To protect these businesses from such attacks in the future, Vodafone asked the government to expand awareness programs by supporting cyber security skills. Vodafone’s head of SMEs in the UK, Andrew Stevens, stated that back in 2022, cyber attacks would cause 3230 pounds of damage to businesses; now the amount has gone up to 4200 pounds, which cannot be covered by most of the enterprises.

He further added that small and medium-sized businesses should invest in anti-cybercrime measures to protect what they have, as their businesses are vulnerable due to the current economic situation.

Tina McKenzie, CEO of Staffline, said that while SMEs have the potential to reach new markets and buyers, they are also susceptible to being attacked. Tina appreciated the steps taken by the government to spread awareness. Furthermore, she encouraged Internet access providers, hardware and software developers, and banks to use their resources to introduce productive cybersecurity measures for SMEs.

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