A survey of 500 small and medium-sized businesses carried out by Markel Direct found that 62% of respondents are worried about more complex cyber threats. Cybercriminals are now using tools like artificial intelligence to develop attacks that are harder to detect and prevent.
When it comes to ransomware and malware, 22% of SMEs identify these as risks. Such attacks can disrupt daily operations and lead to considerable financial losses, leaving many businesses vulnerable.
21% of SMEs mentioned advanced technologies, such as AI and blockchain, as areas they struggle with. While these tools bring innovation, they also present risks that businesses are still learning to handle.
How Does Remote Work Challenge Cybersecurity?
Remote and hybrid working arrangements have added new layers of difficulty in protecting company data. The survey shows that 23% of SMEs are finding it difficult to keep work environments safe when employees access systems from home or other locations. Public and home networks are often less secure, increasing the likelihood of breaches.
To manage these risks, 52% of businesses are using VPNs to secure connections. Staff training is also a priority for 48% of respondents, because it helps create safer working habits. Another 46% have set in specific measures to control how employees access company data remotely.
Hybrid work introduces even more complications. Moving between locations can leave systems exposed to possible threats if proper precautions are not in place.
Are SMEs Prepared For A Cyberattack?
Nearly half of the SMEs surveyed, 49% to be exact, admitted they would be unsure of what to do if a cyberattack occurred. This lack of readiness leaves many businesses at risk of prolonged disruptions and financial damage.
69% of respondents said they have no formal cybersecurity policy, meaning many businesses are unprepared to respond to threats effectively. Without clear procedures, they may struggle to contain the damage caused by breaches.
Cyber insurance is another tool that is still underused, with only 53% of SMEs having this protection. While many businesses have incorporated basic measures like antivirus software and system updates, they could strengthen their position further with proper planning and coverage.
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What Measures Are SMEs Using To Stay Secure?
Many SMEs have implemented basic defences to minimise risks. Antivirus software is the most widely used tool, with 72% of businesses adopting it. Regular updates to systems, carried out by 69% of respondents, help to protect against vulnerabilities.
Multi-factor authentication, used by 52%, provides extra security for accounts and sensitive information. Email filtering is another popular measure, with 49% of businesses using it to block phishing scams. Regular data backups and securing Wi-Fi networks, both used by 46% of respondents, further strengthen protections.
Data encryption, adopted by 44%, helps protect confidential files from being accessed or stolen. These measures show progress, but there is room for improvement to fully deal with the risks businesses face.
What Gaps Exist For SME Cybersecurity?
While some progress has been made, the survey showed a number of areas where businesses could improve. For example, 43% of SMEs do not train their staff to recognise or handle cyber threats. Without this knowledge, employees can inadvertently expose the business to risks.
Password practices are another weak point. Only 35% of businesses encourage regular updates to passwords, leaving them vulnerable to attacks that exploit weak credentials.
The lack of preparation is also evident in the absence of clear policies. Many businesses could benefit from structured plans and stronger internal practices to reduce the likelihood of breaches.
How Does AI Affect SME Cybersecurity?
Artificial intelligence is changing the way cyber threats develop. Criminals are using AI to make attacks more sophisticated and difficult to detect. This has introduced some more risks for businesses that are still getting used to these advanced methods.
21% of SMEs surveyed identified AI and blockchain as areas they find difficult to secure. Businesses must stay informed and update their defences to keep pace with technological changes.
Building better protections and understanding how these technologies are being used can help SMEs stay ahead of attackers, so that they remain resilient.
