UK SMEs fear cybersecurity risks in remote working era

A new study by Markel Direct indicates that nearly one in four small and medium-sized enterprises (SMEs) in the UK are concerned about securing remote working environments.

The survey, which involved 500 SME owners, highlighted that 23% of them regard remote working as a major cybersecurity concern. The most pressing issue, reported by 62% of respondents, is the increasing sophistication of cyber threats.

Rob Rees, Divisional Director of Markel Direct, stated, "Staying ahead of cyber threats is crucial for small business owners, especially as AI-driven attacks continue to evolve. Having a robust cyber security policy in place can help create a framework to safeguard against ongoing threats, whilst cyber insurance can help to protect your business in the event of a targeted attack."

The study addressed how SMEs secure data with remote workers. It found that most businesses employ virtual private networks (VPNs), with 52% using this method. Additionally, 48% provide training on secure remote working practices, and 46% have specific remote access policies and controls.

Despite these measures, 49% of SMEs admitted they would not know how to respond to a cyber-attack. Furthermore, 69% do not have a cybersecurity policy in place, leaving businesses potentially exposed to risks.

However, many SMEs are investing in preventative measures. 72% use antivirus and anti-malware software, while 69% perform regular updates to system software. Additionally, 52% use multi-factor authentication to bolster security.

SMEs also implement a range of other protective measures. These include email filtering for spam and phishing emails (49%), staff training (49%), firewalls (47%), securing Wi-Fi networks (46%), and conducting regular data backups (46%). Notably, 44% use data encryption.

Nonetheless, the study identified gaps in security practices, with 43% of SMEs not training employees on best practices and potential threats. Over half, 53%, do not have cyber insurance, leaving them financially vulnerable in the event of a breach.

Rees further commented, "Almost half of SMEs reported not knowing what to do in the event of a cyber-attack—something that can be key to mitigating its impact. This is why we provide Markel Direct cyber insurance policyholders with access to a cyber response helpline; so that expert guidance is on hand to help small business owners should they experience a cyber security incident."

Markel Direct's study highlights significant cybersecurity concerns among UK SMEs, particularly around remote work vulnerabilities. While many SMEs have adopted basic security tools, gaps in training and policy leave them exposed to cyber risks, underscoring the need for more accessible support and resources.