A new survey has found that 95 per cent of Irish small and medium-sized businesses experienced a cyberattack over the past year.
The survey came from managed IT and cybersecurity solutions providers Typetec.
The survey - commissioned by Typetec and conducted by Censuswide - outlines the views of more than 200 Irish business owners in firms of up to 150 employees. It found that the most common cyberattacks were phishing (40 per cent of Irish small businesses experienced at least one attack), followed by ransomware (38 per cent) and malware (35 per cent).
The research shows that a significant majority of small businesses (71 per cent) increased spend on their cybersecurity budgets in 2021 and that the average cybersecurity budget for SMBs in 2022 is €117,209.
When asked for the key reasons behind increasing cybersecurity budgets, business owners cited the management of remote working (44 per cent) as a main factor, as well as an increasing concern about cyberattacks (44 per cent) and lack of visibility of devices being used for work purposes (41 per cent).
Cybersecurity threats
Despite the increasing number of cyberattacks, only 60 per cent of SMB owners say they have a strong understanding of cybersecurity threats.
Furthermore, over two thirds (69 per cent) of small and medium-sized business owners believe that the Government should provide more funding and support to help protect SMBs against rising cybercrime threats.
This comes as 64 per cent of respondents think that their businesses are more vulnerable to cyberattacks than their international counterparts.
Trevor Coyle, chief technology officer, Typetec said: “Cybercriminals find small and medium-sized businesses attractive targets because they have valuable information, and they often lack the security infrastructure of larger companies. Our research found that a staggering 95 per cent of SMBs in Ireland experienced a cyberattack in the past year. This shows how vital it is for businesses of all sizes to adopt a robust cybersecurity strategy and defence.
“While 2021 saw a continued rise in cybercrime, most businesses are fully aware that attacks are likely to become even more targeted and sophisticated this year. Everything needs to be done to support smaller businesses in particular, who can often be more exposed due to lack of inhouse expertise and resources."
A large, well-resourced military cyber command, capable of defending and deterring online attacks against the State, should be urgently establishment, the Commission on the Defence Forces recommended last week.
It comes following a rise in cyberattacks, including the devastating attack on the Health Service Executive (HSE) last year.
