Cyber security ‘top priority’ for more than half of SMEs - Thorne Widgery

Almost half (49 per cent) of small and medium-sized enterprises (SMEs) are prioritising investing in cyber security and cloud software this year, a new study has revealed.

Research from Beaming, a prominent business internet service provider (ISP), suggests that SMEs are beginning to recognise the very real threat cybercrime poses to them – and that many are working hard to improve their antivirus protection and data security in a bid to ward off hackers.

Beaming’s report found that almost a quarter (23 per cent) of small businesses were planning on enhancing their cyber security by upgrading to or purchasing antivirus and anti-malware software this year.

Meanwhile, it also found that 15 per cent were planning on investing in new network perimeter firewalls and other cyber security measures such as introducing two-factor authentication (2FA), which can help to ensure that only authorised personnel can access a business’ data or network.

A further 46 per cent of SME respondents told the survey that they had plans to invest in secure cloud computing services this year – enabling them to store their data in a safer place.

However, the report suggests that SMEs at the smaller end of the scale are unlikely to adopt cyber security solutions at as fast a rate as their larger counterparts.

The research found that medium-to-large organisations will invest in cyber security at the greatest rate this year, while smaller firms are more likely to lag behind when it comes to upgrading and enhancing their systems.