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ONE IN FOUR BRITISH SMBS HIT BY RANSOMWARE IN THE PAST YEAR
Avast , a leading digital security and privacy brand of Gen , has found that one in four British SMBs surveyed ( 26 %) have been targeted by ransomware within the past year , with almost half ( 47 %) of those falling victim having paid the ransom to regain access to their files or systems . SMBs targeted by ransomware suffered significant ill effects from cyberattacks : 41 % lost data , while 34 % lost access to devices .
The Russian invasion of Ukraine and the associated reports of cyber-warfare appear to have acted as catalysts too , creating anxiety among SMBs . In fact , 68 % of SMBs surveyed are more concerned about being targeted and hacked since the invasion began . Worries about cybersecurity generally have led to half of SMBs ( 50 %) investing in cybersecurity insurance , despite costs rising elsewhere .
The research with 1,000 IT decision-makers at small and medium businesses in the UK showcases that British companies view cyberthreats as high risk .
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SMBS ARE THE BEDROCK OF THE UK ECONOMY , MAKING UP 99.9 % OF ALL UK PRIVATE SECTOR BUSINESSES IN 2021 .
Almost half of British SMBs surveyed rank digital security as one of the biggest threats they face ( 48 % compared to 66 % for financial risks driven by increased operating costs ), and ahead of physical security ( 35 %) and supply chain issues ( 33 %). In some industries such as sales , media and marketing , digital security issues were listed as a bigger risk than increased costs .
SMBs are the bedrock of the UK economy , making up 99.9 % of all UK private sector businesses in 2021 . However , most SMB leaders ( 81 %) surveyed believe the UK Government should be doing more to support them with digital security and the threat of financial loss , calling out assistance with incident recovery and response ( 60 %) and better and clearer information on cybercrime ( 58 %) specifically .
Despite this though , SMBs are largely well-informed about the risks they face and are taking proactive measures to safeguard their operations . More than two-thirds ( 69 %) of businesses surveyed believe they have enough information to protect themselves against cybercrime despite the perceived lack of government support in this area , with 76 % having already taken measures to protect themselves . SMB leaders are also handling the basics of cybersecurity with nearly two-thirds ( 63 %) of those surveyed backing up files at least once a week .
“ When it comes to cybersafety , we feel a great responsibility to help the most vulnerable groups , not just those who can fend for themselves ,” said Lindsey Pyle , Vice President of Strategy at Avast Business . “ SMBs are one of these groups . They often have a very limited budget and resources and many don ’ t have somebody on staff managing security holistically . As a result , not only are they lacking in their defence , but they ’ re also slower to react to incidents .” �
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