More Than 1m Small Businesses ‘At Risk Of Collapse’ Due To Cyber Threats

By   ISBuzz Team
Writer , Information Security Buzz | Mar 09, 2021 06:51 am PST

A poll of more than 500 business leaders found nearly a quarter of UK SMEs — equivalent to 1.3m companies — were likely to go bust if they were forced to deal with the average cost of a cyber attack. The research, commissioned by Vodafone, also showed that 16 percent of firms would likely be forced to lay off staff in the event of a hack. As a result, the report called on ministers to beef up the country’s corporate cyber defenses, warning that a failure to do so could hamper the post-pandemic economic recovery.