The cybersecurity and GDPR compliance platform, Naq Cyber, has published new data highlighting the true cost of a cyberbreach to UK businesses and the devasting impact it can cause. The average total is more than £43,000 and this includes legal fees, GDPR fines, downtime and time spent resolving the situation, expert fees to fix the vulnerability and further consultancy.
The total cost varies from £18,350 – £69,250 depending on the organisation size but even the lowest amount would be fatal for nearly one in six small businesses. Once the breach is resolved, businesses will need to ensure they don’t have a repeat occurrence which may mean further costs including additional software and staff training.
Naq Cyber has launched a one stop platform for small businesses to easily manage their cybersecurity and legal compliance, essentially a small business information security officer, to give peace of mind.