The FSB has welcomed yesterday’s launch of a cyber security initiative aimed at protecting UK business and government. However, the small business body has said it has some concerns over the focus of chancellor Phillip Hammond’s new scheme.
Small businesses are the victims of over seven million cyber crimes a year, and cyber crime costs the small business community £5.26 billion annually. FSB recently called for a more pro-active approach from Government and providers of the digital and financial infrastructure in its recent policy report, ‘Cyber Resilience: How to protect small firms in the digital economy’.
‘Significant financial loss and damaged reputations’
Now, though, FSB chair Mike Cherry has said that more must be done to safeguard SMEs from the growing cyber threat. “This Cyber Security Strategy is very welcome but the scale of threat to small businesses must not be underestimated. The determination of the Government to act is clear but its essential efforts to protect the UK economy include a clear focus on small businesses, who often lack the resource on their own to defend against criminal attacks.
“When a small business is attacked it can lead to weeks of delayed or lost orders, significant financial loss and damaged reputations. It’s an absolute necessity for businesses and Government to work together to increase the resilience of the small business community to help them get back on their feet after an attack. We would like to see the Government do more to provide small businesses with support to improve their basic cyber resilience.”