UK businesses feel let down by Government on cybersecurity

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British businesses feel let down by a lack of Government support when it comes to cybersecurity protection, according to research published today.

A new study found that many companies feel that the government needs to do much more to help them feel secure in their online operations as cyberthreats become more prevalent across the world.

Nearly a third (31 percent) of the firms surveyed said that the government failed to offer businesses enough guidance or support on cybersecurity, despite high-profile initiatives such as the work of the National Cyber Security Centre (NCSC).

UK business security

The report, carried out by RedSeal, found that nearly seven in ten (68 percent) of businesses suffered at least one cyberattack in the past year. 

Of those hit by an attack, two-thirds (67 percent) had suffered a financial loss, 37 percent lost customers, and nearly half (43 percent) suffered damage to their reputation.

More worryingly, the data also revealed that one in five (19 percent) of those surveyed admitted they had no plan in place to deal with a cyberattack.

"The number of high profile breaches has meant that 2018 has become the year where businesses are left wondering what more they can do to protect themselves, how to remain resilient, to keep operating and minimise customer damage," said Ray Rothrock, CEO of RedSeal.