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Are you an SME owner with a website? Is it e-commerce enabled? If the answer is yes, then let me ask you another question.

Who is responsible for your site’s cybersecurity?

If you don’t know the answer, shame on you – but you are far from alone. A recent survey by 123 Reg, the UK’s largest website provider, found that one in five owners of e-commerce enabled websites don’t know who is responsible for their website security.

The survey of 13,000 small business owners found that 10% had taken no precautions to prevent hackers accessing their e-commerce websites, meaning their customer data is unprotected.

50% of respondents also admitted they’re unprepared for a cyberattack and have no plan for what they should do if one took place. This is despite the well-documented growing threat to small business cybersecurity.  A survey by the EEF (the Engineering Employers’ Federation) revealed that 90% of large businesses and 74% of small businesses reported a security breach in 2015.

Tom Serani, Executive Vice President of 123Reg security partner Sitelock, said, “We are seeing an exponential growth in cyber security threats, coinciding with the increased digitisation of businesses. Worryingly, hacker attacks are getting more sophisticated, especially those targeting SMEs, which are generally perceived to be less secure. It is therefore vital that online businesses take the necessary steps to protect themselves from any attack.”

 

The Financial Impact of Security Breaches

Last year, Get Safe Online and Action Fraud estimated that British businesses lost over £1bn to online crime – while a recent Hiscox report warned it had found that “the financial impact of cyber-attacks is disproportionately high for the very smallest companies.”

Nick Leech, Digital Director at 123 Reg, said, “Having an online presence is vital for small businesses. In 2015, e-commerce sales in the UK reached £533 billion. But keeping customers safe requires a team effort. Businesses can easily implement simple, yet crucial, security measures, which can help keep them safe against online attacks.  By continuously updating online programmes, regularly changing passwords and installing the latest security products, Britain’s small business owners can stay secure and continue to thrive.”

 

Remember, if you are taking card payments via your website, it’s up to you to be aware of cybersecurity issues and take steps to ensure that customer data is protected.

About The Author

Karl Bilby

We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!

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