Small businesses underestimating cybercrime threat to profits, cashflow and reputation

Ed Vaizey, Minister for culture and the digital economy, said at an event last week to help firms combat cybercrime: β€˜Small businesses are driving economic growth in the UK but remain particularly vulnerable to cyber-security breaches that can result in hundreds of thousands of pounds worth of damage.’

Recent research by PwC on behalf of the Department for Business, Innovation and Skills, has found that 60 per cent of small businesses have suffered a malicious breach in the past year – and half of them had a serious incident.

Read more: http://www.thisismoney.co.uk/money/smallbusiness/article-2807708/Businesses-underestimating-threat-cybercrime-poses-profitability-cashflow-reputation-according-experts.html#ixzz3HLxwprJN