The Federation of Small Businesses (FSB) said issues such as hacking, data security breaches and computer viruses were a \u201cbarrier to growth\u201d that could no longer be ignored. An FSB report found that cyber crime is costing its 200,000 members a combined \u00a3785m a year \u2013 or \u00a33,750 for every small business. Over the past year, 41pc of the group\u2019s members have been a victim of cyber crime, often through frauds carried out by a customer or client, or so-called \u201ccard not present\u201d situations (when purchases are made online, over the phone or by mail order).<\/p>\n
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The lobby group is concerned that the cost to the wider economy could be much greater, as small businesses refuse to trade online because they believe the security framework does not give them adequate protection.<\/p>\n
Mike Cherry, FSB chairman, said: \u201cCyber crime poses a growing threat for small firms and it isn\u2019t something that should be ignored. \u201cWhile we want to see clear action from the Government and the wider public sector, there are clear actions that businesses can take to help themselves.\u201d<\/p>\n
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The FSB issued 10 tips to help businesses protect themselves, including a combination of standard security protection steps (e.g. putting up a firewall and using antivirus and anti-spam software); carrying out regular security updates on all software and devices; and ensuring there is a resilient IT system and email password policy. The Government has urged small companies to spend more on security to address the rise in cyber crime and meet the terms of a tough EU directive.<\/p>\n