A recent report revealed that over half of small businesses in the UK increased their cybersecurity spending last year, with a notable focus on the IT and communications sector. Despite the increase, only 20% of firms reported experiencing a cyber attack in 2024, contrasting with government data suggesting that 50% had faced attacks, primarily phishing. This discrepancy may highlight a lack of awareness regarding cyber threats among small businesses. Financial losses attributed to inadequate cybersecurity measures reach billions annually, emphasizing the need for robust security investments.
"In contrast to our research, the UK government statistics show 50% of businesses reported some kind of cyber attack in 2024, with the most common being basic phishing attacks."
"This could indicate there is a lack of awareness around the types of cyber attacks small businesses could face. Something as simple as a malicious link in a phishing email could easily go missed by many."
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