The Department for Business Innovation & Skills has recently published a paper on Information Security Breaches and the results are alarming:

  • “60% of small businesses had a security breach in 2014.”
  • “6 is the median number of breaches suffered by a small organisation in the last year.”
  • “£65k-£115k is the average cost to a small business of its worst security breach of the year.”

(Source: Department of for Business Innovation & Skills)

It comes as no surprise then that IT Security is on everyone’s lips. No longer is it a vague, distant, unspecified threat hanging around the peripherals of business management. It’s a real problem and at some point it’s going to affect your business. And, if the figures above are anything to go by, the cost of a breach could be staggering. How would your business be affected if a security breach cost £100 000? Beyond the obvious monetary cost, there’s the damage that could be done to your company’s image and brand. Not to mention the implications if sensitive customer data is exposed. That’s not to say that businesses are not responding. The overall investment in security as part of total IT budget is increasing across all sectors, with even the most frugal sector’s investment increasing. This makes it important to get your IT security right the first time, including staff training and internal policies to minimise the chance of a security breach.

If you would like advice on how to improve your IT security contact Riverbank on 01235 426700 or email enquiries@riverbank.co.uk

The executive summary of the Department for Business Innovation & Skills paper on Information Security Breaches can be found below.

Information Security Breaches Executive Summary