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Three in five of the UK’s Manufacturing and Engineering firms (M&E) have suffered a cyber attack (UK average: 45%), with ransomware attacks the most frequently experienced, followed by phishing emails and denial of service (DoS) data breaches. Of those firms who have suffered a cyber-attack, 68% have been the subject of increased incidents, and 54% have suffered a financial loss, according to the latest independent research from Close Brothers Asset Finance.
The research also shows that 65% (UK average: 52%) of M&E business owners have invested in staff training to help prevent cyber attacks, and a further 60% have paid for additional cyber security in the past 12 months.
Trust in banks’ IT systems is quite high at 76%.
Has your firm suffered any of the following cyber-attacks:
* Yes, Ransomware attack 22% (UK: 17%)
* Yes, Denial of Service (DoS) Data breach 12% (UK: 9%)
* Yes, Phishing attack 12% (UK: 10%)
* Yes, Malware attack 6% (UK: 4%)
* Yes, a combination of these cyber-attacks 7% (UK: 5%)
* No 41% (UK: 55%)
“It’s well documented that many businesses of all sizes have at some point suffered some form of cyber-attack, whether it’s a ransomware or phishing attack,” said Steve Gee, CEO of Close Brothers’ Industrial Equipment Division. “What our research shows is that company owners are not only more aware of the dangers posed by cyber-attacks but are taking action by investing in training or additional security, or a combination of the
“This clearly doesn’t some cheap but the potential losses – financial and reputational – means it’s something all business owners will increasingly have to consider, if they haven’t already.”
Methodology
All figures, unless otherwise stated, are from a Kantar survey conducted in late February 2022. The survey canvassed the opinion of over 900 SME owners across the UK and Ireland and across several industries on a range of issues affecting their businesses.
