SME's Worry over Cyber Attacks

A survey has revealed that the UK's small and medium sized enterprises are worried about their businesses, due to the growing threat of network failures and cyber-attacks.

The perceived level of risk is at the highest it has been in 18 months; however it appears to be long term threats that are causing great concern.

The survey showed that 27% of SMEs said online marketing and web trading were among the top opportunities for their businesses, and 39% are worried about the vulnerabilities associated with the use of technology.

Almost two fifths said the failure of local network systems was one of the three biggest technological risks to their businesses, closely followed by cyber-attacks.

Richard Coleman, director of SME at Zurich Insurance, believes that traditional risks like severe weather should not be overlooked.

He said: "Only 3% of SMEs report that flood prevention measures are one of their three most serious operational risks, but with flooding in recent months causing disruption to many businesses, it's likely that many SME owners need to consider moving major incident risk management closer to the top of their priority list."

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