UK small business cyberattack rate hits 38%, highest in global survey
Nearly four in 10 UK small firms suffered a successful cyberattack in the past year, per the Hiscox Cyber Readiness Report. At 38%, the rate far exceeds the global average of 29%, placing Britain top among surveyed markets. The average cost per incident in the UK was €33,000 (£26,650), below the global average of €48,000 ($52,000).
Bottom line — UK small businesses face the highest cyberattack rate globally at 38%, per Hiscox.
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- Affected UK firms reported an average of four attacks in the past year, according to the Hiscox report cited by The Cyber Express.
- Globally, 32% of firms that experienced an incident said it delayed growth and expansion plans, per the same research.
- UK firms spend an average of €55,000 (£44,294) on cyber resilience, the third-highest among surveyed markets, The Cyber Express notes.
- Despite high exposure, only around 40% of UK SMEs hold a dedicated cyber insurance policy, according to separate research cited by The Cyber Express.
- Reputation and customer trust were ranked as the top cyber-related risk by 48% of UK businesses surveyed, per Business Plus.
- The Hiscox report found that 67% of Irish SMEs surveyed currently have cyber insurance, contrasting with the UK uptake gap.