Cybersecurity is at the top of most entrepreneurs’ minds with many increasingly reliant on the web to conduct their business, according to a survey by Zurich Insurance.
Almost two-thirds of the 750 UK small businesses questioned said cyber-attacks were a prime concern – alongside growing fears of losing data online. The importance of social media as a business tool is also rising, the poll revealed, with 11 per cent citing worries over reputational risks. Just under a fifth – 19 per cent – raised the issue of whether “exposure to the cloud” could damage their business.
Web reliance is also growing rapidly, the survey noted, with almost a quarter of UK small businesses doing business online.
Richard Coleman, director of SME at Zurich Insurance, said: “The increased threat of cyber crime to UK small businesses brings a new sense of vulnerability to this sector which, as we have already seen, can have disastrous consequences for businesses.”