8 Facts About Cyber Security Bound to Scare Your Business

by Robert Best on March 15, 2017
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facts about cyber security for businessCyber security is the latest tech buzz word. High profile stories with massive consequences has made the topic more relevant than ever. A new report by Crowd Research Partners highlights some worrying trends that any business needs to be aware of. I've picked out 8 of the most worrying facts about cyber security.

#1 - The average company will face 8 cyber attacks a year!

On average, those companies asked in the report, were aware of 8 cyber attacks on their business in the last 12 months. That is just the average, some businesses estimate more than 100 attacks. For the average business that is more than one attack every 2 months and it's going to get worse.

#2 - 54% of businesses predict an increase in cyber attacks!

When asked 54% of professionals expected an increase in cyber attacks on their company. Clearly the issue of cyber security is not going away anytime soon. Protection from cyber attacks needs to be a business concern.

#3 - The average time to detect a cyber attack is 200 days!

Attacks are becoming more sophisticated making it harder for businesses to detect them. The report shows it takes over half a year on average to discover an attack. That's astonishing. Just think about how much of your company's data would be at risk for the amount of time. 

#4 - 20% of organisations take a 1 week to recover from an attack!

Beyond the threat to your company's data there is also the time it takes to recover from an attack. 1 in 5 businesses take as long as 1 week to recover. That is a loss of productivity and distruption to your business to go with any potential data losses.

#5 - 62% of companies are moderately to not all confident in their security!

The increased wave of attacks means businesses are becoming less confident in their cyber security. With all the damage a cyber attack can cause to a company, security is becoming more important.

#6 - 45% see the biggest obstacle to stronger cyber security is a lack of skilled personnel!

It's no surprise that almost half the companies asked saw a lack of skilled staff as a roadblock to improving their cyber security. Attacks have become more sophisticated and most companies will struggle to protect themselves without professional help.

#7 - 41% plan to partner with a managed services provider!

Almost half the companies asked said they would look to initiate or expand partnerships with managed services providers. The cyber attack threat has become so high that businesses are needing more help with cyber security. MSP's can offer stronger security and peace of mind against hard to detect attacks.

#8 - 52% are increasing their security budget

The potential damage from a successful attack is so high that the extra cost of security is easy to justify. On average security budgets are increasing by 21%.

Those are startling stats. Cyber attacks are a direct threat to all types of businesses. Don't think it's just big business that faces this threat. Small businesses are being targeted as well and are under more threat. 

For more information on how you can protect your business from cyber attacks contact us or call 0845 4666 500. Also, make sure you download this free cyber security eBook to learn best practices to keep your staff secure at work. 

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Topics: IT Security