According to new findings from Vodafone Business, small and medium-sized businesses (SMBs) across Derbyshire are collectively losing £84 million annually to cyber-attacks. The surge in cybercrime has left many local businesses exposed, with nearly one in three (29%) reporting they were targeted at least once in 2024 alone.
The study showed that more than 10% of businesses in the region were hit with between one and five cyber-attacks, while 5% faced multiple attacks, with some experiencing more than ten. This translates to a loss of £1,559 per business each year.
A key issue is the lack of robust security measures. Many local businesses struggle with limited budgets and insufficient expertise, leaving them vulnerable to data breaches, system failures, and reputational damage. These challenges are part of a broader national problem, with UK small businesses collectively losing £3.4 billion annually to cyber-attacks.
The research highlighted several concerning trends. Over half of SMB employees (52%) have not received cybersecurity training, and nearly a third (32%) of businesses operate without adequate protection against digital threats. Furthermore, despite the growing risks, 38% of businesses invest less than £100 annually in cybersecurity. With remote working becoming more common—64% of companies have staff working off-site regularly—cybersecurity vulnerabilities are exacerbated by using personal devices for work, with 60% of companies allowing this practice.
The most common attacks reported include phishing, which affects 70% of businesses, ransomware (23%), and Distributed Denial of Service (DDoS) attacks (20%). In light of these findings, some businesses are opting to restrict remote working for employees to mitigate the risks associated with cybercrime.
To address the escalating threat, Vodafone Business is emphasising the importance of SMEs investing in scalable, cost-effective cybersecurity solutions. The company also offers a complimentary one-month trial of CybSafe, a platform that leverages AI and behavioural science to improve cybersecurity awareness and practices within organisations.
