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FSB urges UK small firms to invest in cyber security following ransomware attack

There are seven million cyber crimes committed against small firms in the UK every year, costing an average of £3,000 and taking 2.2 days to recover

Following last week's worldwide ransomware attack, the Federation of Small Businesses has urged the UK's estimated 5.5 million small firms to protect themselves against a potential attack this week.

Having been made aware of specific concerns by the National Cyber Security Centre, the FSB said smaller businesses should invest in cyber security protection and specific insurance. They should also make use of its expert cyber advice line for more information.

The average cyber crime incident can cost a small business nearly £3,000 and take 2.2 days to recover. And with seven million such crimes are committed in the UK every year, equating to 19,000 every day, the threat is very real.

The FSB has also warned that as attackers are becoming more effective and less able to be discovered, cyber crime is becoming one of the fastest growing risks to small businesses.

Dave Stallon, commercial director at FSB, commented: “We are raising the alarm with the UK’s 5.5 million-strong small business community. It is vital that small businesses and the self-employed prioritise this, and that they do it today.

“These businesses have limited resources, time and expertise to deal with the current and growing cyber crime threat but there is specific assistance available. They should follow our guidance, and do it right now.”

Mike Cherry, FSB national chairman, said:

“The National Cyber Security Centre has warned us that a new working week may bring more cyber ransomware outbreaks. We are urging all small businesses to take steps to reduce the risk of an attack. Businesses should immediately check for updates to their operating systems and anti-malware software and download them where needed.

“We advise small firms to make sure their data is backed up – if the worst happens, data cannot then be held to ransom. Small firms should also keep an eye on the NCSC website and Twitter feed to stay up to date with the latest advice. FSB members have access to specific cyber advice and insurance protection as part of their membership.”

Henry Williams
Henry Williams

Henry has been writing for since 2015, covering everything from business finance and web builders to tax and red tape. He’s also contributed to many of our industry-renowned annual indexes, including Startups 100 and Young Guns, and created a number of the site’s popular how to guides. Before joining the team, he reviewed films for a culture website, and still harbours ambitions of being a screenwriter.


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