Research commissioned by the Department for Business, Innovation and Skills (BIS), shows that the number of cyber attacks hitting businesses has increased over the last year. Moreover, the Information Security Breaches survey found that some attacks had caused more than £1 million of damage.

It showed that 87% of small firms experienced a security breach last year (up 10%), and that 93% of large organisations had also been targeted. To help guard against these attacks, which can cost a small business 6% of its turnover, the Government is offering further funding and guidance. The Technology Strategy Board has extended a scheme to allow small and medium-size enterprises (SMEs) to bid for up to £5,000 to improve their cyber security. BIS is also publishing a guide to help small businesses improve their cyber security and make it part of their business risk management process.

Universities and Science Minister David Willetts said: “Keeping electronic information safe and secure is vital to a business’s bottom line. Companies are more at risk than ever of having their cyber security compromised — in particular, small businesses — and no sector is immune from attack, but there are simple steps that can be taken to prevent most incidents. The package of support we are announcing will help small businesses to protect valuable assets like financial information, Web sites, equipment, software and intellectual property.”