Skip to content

Entrepreneurs Panel

Charlie Mullins
Julie Meyer
Richard O'Sullivan
David Pollock
Brian Hay
Debbie Pierce
Laura Tenison
Steve Purdham
Jennie Johnson
Tony Caldeira
Jeremy Roberts
Michael Oliver

Small firms 'failing to protect themselves from cybercrime'

Small firms are failing to protect themselves from the growing threat of cybercrime, despite almost half being hit last year, according to new research.

A survey of 250 businesses by Barclaycard found that only one in five see cyber security as a top business priority, while one in 10 have never invested in improving the security of their website.

This is despite only one in six being confident they have adequate measures in place to prevent cybercrime.

Almost half (48 per cent) said they had been hit by at least one cyber attack in the past year, with 10 per cent experiencing more than four. Sixteen per cent admitted that they only reviewed their cybersecurity once they had become the victim of an attack.

Barclaycard said cybercrime costs small businesses an average of between £75,000 and £311,000 in lost sales, business disruption, recovery of assets, fines and compensation.

Paul Clarke, product director at Barclaycard, said: "Businesses of all sizes face a constant and growing threat from cybercrime. As our research shows, many small businesses are failing take the necessary precautions, either because they don't know how to protect themselves or, more worryingly, because they don't think they need to.

"Cybersecurity is not a one-off investment that can then be forgotten about, especially as criminals are becoming increasingly sophisticated in the way they target businesses."

  • Kathryn Parsons, co-founder of Decoded, started with little more than faith and determination, but four years later it’s grown into a global business. Ahead of her appearance at Accelerate 2015 in...

  • Author, writer and marketer Ryan Holiday on how entrepreneurs need to interpret failure.

  • Sue Vizard, business coach and author of Jump Start: The Start-up Book for Your Dream Business, looks at some of the questions solo entrepreneurs should ask themselves.

  • Ian Wright, founder and chief executive of, is bringing together SMEs and NEDs - without the hefty recruitment fees.

  • Former professional golfer turned entrepreneur Colin Stevens has had a busy 18 months. The Better Bathrooms founder has increased turnover at the firm, secured a multi-million pound investment and...

Five Minutes With

Reputation is everything when it comes to running a successful business, according to Sacha Lord-Marchionne and Sam Kandel, founders of the Warehouse Project (WHP), a series of club nights featuring DJs from all over the world, which was launched back in 2006.

After travelling the world in a corporate role, Mike Wheeler decided that he had had enough of living out of a suitcase and so got a job running a small family business.