Why is cyber security so important for SMEs?

In association with

Alarmingly, Allianz recently identified virtual crime as the biggest risk to SMEs in 2017. That means that it ranks above skills gaps, legal issues and a shortfall in business lending for the issues facing small and medium firms.

By Andrew Stellakis, managing director, Q2Q.And this is worsened by the fact that over 74 per cent of small companies believe they are cyber-secure.

A report from the Federation of Small Businesses emphasises the dangers of such complacency, revealing that small businesses are attacked seven million times a year, costing the UK economy £5bn per annum.

So, if the idea of having sensitive company information stolen – passwords and bank details to name just two – isn’t enough to prompt a firm to protect themselves against cyber breaches, then the risk of exposing clients’ data should.

The Data Protection Act shields customers from such risks, and gives them the right to claim financial losses as a result of their information being stolen. It may also cause damaged client relationships, or even a PR disaster. Think of Talk Talk, Yahoo, or Wonga, for just three examples.

There are five main actions that SMEs can take to protect their data and systems. First and foremost, it’s important to identify which information is sensitive and set up strong passwords.

Secondly, providing education and training to staff about tips for best practice will significantly help. After all, utilising human error is a key cyber criminal strategy.

Next, choose a safe cloud storage provider that offers firewalling, encryption and ransomware threat prevention.

Then, invest in effective anti-malware and anti-virus software. As always, prevention is better than cure and a great system will help to stop an attack in its tracks. Finally, appoint the help of an experienced and professional IT firm that will prevent and protect your business from cyber attacks.

Enjoyed this? Read more from Lancashire Business View

Latest news

1

Villa at Wrea Green bought for £3.6m by Haythornthwaite family The Villa Wrea Green courtesy of The Villa Wrea Green

Villa at Wrea Green bought for £3.6m by Haythornthwaite family

16 Sep 2025

2

Fourth Lancashire Bodycare store to shut Nick Holloway of administrators Interpath

Fourth Lancashire Bodycare store to shut

16 Sep 2025

3

Family business relocates in Blackburn Tristar relocation

Family business relocates in Blackburn

16 Sep 2025

4

Taste Lancashire Producer Awards 2026 open for applications Taste Lancashire Producers awards

Taste Lancashire Producer Awards 2026 open for applications

15 Sep 2025

5

Stuart Buckley appointed head of sales and account management at Netcentrix Stuart Buckley

Stuart Buckley appointed head of sales and account management at Netcentrix

15 Sep 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
Sub36 Networking - Follow the signs
Sub36 Deaf Village Social1200
Networking
17 Sep 2025

Sub36 Networking - Follow the signs

The Deaf Village, Blackburn, BB2 5EN

10:00 - 12:00

LBV124 September/October Launch Event
MBP Arc Cinema Preston Opening 205
Networking
18 Sep 2025

LBV124 September/October Launch Event

The Arc Cinema, Preston, PR1 2BL

08:30 - 10:30

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Business Breakfast Networking Event
business workshop photo.png.png
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

Business Breakfast Networking Event

Media Factory, University of Lancashire, Preston, PR1 2HE

08:00 - 10:30

The Business Network Central & East Lancashire
LBV Hub Networking
17 Sep 2025 - 17 Sep 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

Ladies Lunch
Lancs-cham-logo.jpg.jpg
LBV Hub Networking
18 Sep 2025 - 18 Sep 2025

Ladies Lunch

Lancaster Golf Club, Lancaster, LA2 0AJ

12:00 - 16:00

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation
Chorley Council breakfast event new
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Your Business, Your Region: Making sense of devolution and Local Government Reorganisation

Worden Hall, Leyland, PR25 3DH

08:00 - 11:00

Preston Freelancer Meet-Up: September
Sept Freelancer (1).png.png
LBV Hub Networking
23 Sep 2025 - 23 Sep 2025

Preston Freelancer Meet-Up: September

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Speed Networking with BNI
2.png.png
LBV Hub Networking
24 Sep 2025 - 24 Sep 2025

Speed Networking with BNI

Chorley Football Club, Chorley, PR7 3DU

16:00 - 19:00

The Marketing Meetup IRL: Lancashire - September
TMM Lancashire
LBV Hub Networking
25 Sep 2025 - 25 Sep 2025

The Marketing Meetup IRL: Lancashire - September

Chorley, PR7 2SL

18:00 - 20:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin