Key Takeaway
The recent M&S cyberattack highlights a broader issue affecting small businesses, with one in three falling victim to cybercrime. Despite 17% of firms recognizing cyberattacks as a major concern, over 14% have not implemented any protective measures. James Trevis from NFU Mutual emphasizes that small businesses, increasingly reliant on digital tools, often lack the resources to defend against cyber threats, making them vulnerable targets. The State of Information Security Report reveals a “confidence gap,” where 97% of security leaders trust their breach response, yet 61% faced supply chain attacks. Breaches often lead to operational disruptions and loss of customer trust.
While the M&S cyberattack highlights a significant issue, the problem extends well beyond large corporations.
Data from NFU reveals that one in three small businesses has been a target of cybercrime.
However, there remains a noticeable gap between recognizing the risk and taking action.
Although 17% of firms consider cyberattacks to be a top concern, more than one in seven admit to having taken no significant steps to protect themselves.
“Small businesses are becoming increasingly dependent on digital tools, yet often lack the resources to defend against cybercrime,” warns James Trevis, Cyber Specialist at NFU Mutual. “This makes them prime targets.”
The latest State of Information Security Report from IO reveals a growing “confidence gap” in cybersecurity.
Even though 97% of security leaders in the UK and US express confidence in their breach response capabilities, 61% have still faced a third-party or supply chain attack in the past year.
The M&S incident highlights the dangers of that misplaced confidence.
According to the IO report, the aftermath of such breaches often includes “temporary system outages or operational disruption” (33%) and “customer or partner churn and loss of trust” (36%).
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