May 26, 2024

SME Management Urged to Review Knowledge and Attitudes to Cybersecurity to Avoid Costly Losses

Gap in cybersecurity knowledge in SME management and staff not only compromise the competitive edge, it can cripple a business.

Birmingham-based hybrid cloud cybersecurity company, METCloud recently urged small-medium enterprise owners to update their understanding and attitudes towards IT and cybersecurity. This comes at a time when reported cases of cyber crimes continue to increase while the UK economy pushes hard to recover in the ‘new normal’ due to the Covid-19 pandemic.

The cybersecurity breaches survey 2020 which was published just as the nation entered the Covid-19 lockdown reported that 46% businesses have reported some kind of cybersecurity breach or attack over the 12 months preceding the report. While reports of cybersecurity breach and fraud continuing on an upward trajectory, it is widely known that human error accounts for 90% of UK data breaches. With more than 5.9 million private businesses in the UK, SMEs account for approximately 47% of revenue towards the UK economy.

Putting the figures together, the ramifications of inadequate cybersecurity knowledge becomes evidently stark. This is compounded by recent studies indicating 41% of UK workers haven’t been receiving adequate cybersecurity training.

“The 2020 pandemic has forced the hand for many businesses to expedite remote working policies leaving them vulnerable to opportunistic cybercriminals. As the reliance of IT continues to saturate day-to-day business activities, it is important for business leaders to recognise if their company’s approach to IT and security is fit for today’s purpose. Most importantly, to cascade the importance of cybersecurity literacy to their teams.

“There are many credible resources available for SMEs to receive guidance. For instance, the National Cyber Security Centre (NCSC) has a wealth of information that is approachable to non-IT professionals. They have even published cyber security guidelines exclusively for SMEs. However, it does help to speak to IT professionals to better understand how this all fits into your business,” advised Ian Vickers, CEO of METCloud.

The emergence of cloud computing has created a paradigm shift for many small, agile and medium-sized businesses. Companies like METCloud have made it possible for businesses to obtain a fit-for-function IT solution in the present climate.

“Before cloud computing, many small organisations found it expensive to obtain comprehensive and secure support for their IT systems. Cloud technology and security have evolved to accommodate modern business needs and financial capabilities. They are scalable in accordance with the size of the business and carry cybersecurity features that are unmatched by the traditional IT systems.

“As we see more SMEs extend their reach to global markets, cloud computing has made it easier for teams to work seamlessly and securely regardless of where they are.  We take it upon ourselves to adhere and exceed the cloud security guidelines set by the NCSC, providing guidance to clients where we can. After all, we recognise that the success of a system boils down to management understanding. The more knowledge available, the more can be done to support a business,” said Ian Vickers.