Independent retailers are being urged to ensure they are clued up on IT security to minimise the risk of cybercrime, a new podcast from Bira has explored.
The latest episode of 'High Street Matters', entitled 'No Business Too Small', tackles the misconception that small businesses are not targets for cyberattacks.
Hosted by Jeff Moody, Chief Operating Officer of Bira, the episode brings together expert insights from Andrew Goodacre, CEO of Bira, Melissa Minkow, Director of Retail Strategy at CI&T and retail futurist, and Andrew Maben from Kevin's Schoolwear in London, who experienced a cyberattack firsthand.
Mr Goodacre said: "There is a groundswell of perception within small business owners that the kind of hacking and disruption that the likes of Marks & Spencer have experienced recently is really just a thing that happens to big companies and not small ones. It's a kind of head in the sand approach, not wanting to really face up to that harsh reality that they may be liable."
The podcast reveals alarming statistics, with research showing that 61% of small and medium businesses were the target of a cyberattack in 2021. Ms Minkow explained: "Small businesses are oftentimes making the assumption that they wouldn't be the target because they're collecting less data. But this is an issue that every retailer, unfortunately, is facing regardless of size."
Mr Maben shared his experience of Kevin's Schoolwear being hit by a DDoS (Distributed Denial of Service) attack a couple of years ago. The attack left the business's website displaying in Chinese and out of action for two weeks during a crucial trading period.
"I suppose in hindsight, we were taking this for granted a little bit," Mr Maben admitted. "We're too small for cyber hackers - I didn't think little old Kevin's Schoolwear would provide that kudos for them. But we now understand that we are vulnerable to much less sophisticated attacks, and small businesses are actually, in proportion, more vulnerable to these sorts of attacks."
The episode provides practical advice for independent retailers, including:
Ms Minkow added: "It does seem like a really costly investment, but it is going to be far more expensive if down the line you're reacting to it rather than preparing for it in advance. Any strong data strategy should incorporate a cybersecurity plan."
This episode of the podcast is available here. More resources and support for independent retailers can be found at bira.co.uk.
The latest episode of 'High Street Matters', entitled 'No Business Too Small', tackles the misconception that small businesses are not targets for cyberattacks.
Hosted by Jeff Moody, Chief Operating Officer of Bira, the episode brings together expert insights from Andrew Goodacre, CEO of Bira, Melissa Minkow, Director of Retail Strategy at CI&T and retail futurist, and Andrew Maben from Kevin's Schoolwear in London, who experienced a cyberattack firsthand.
Mr Goodacre said: "There is a groundswell of perception within small business owners that the kind of hacking and disruption that the likes of Marks & Spencer have experienced recently is really just a thing that happens to big companies and not small ones. It's a kind of head in the sand approach, not wanting to really face up to that harsh reality that they may be liable."
The podcast reveals alarming statistics, with research showing that 61% of small and medium businesses were the target of a cyberattack in 2021. Ms Minkow explained: "Small businesses are oftentimes making the assumption that they wouldn't be the target because they're collecting less data. But this is an issue that every retailer, unfortunately, is facing regardless of size."
Mr Maben shared his experience of Kevin's Schoolwear being hit by a DDoS (Distributed Denial of Service) attack a couple of years ago. The attack left the business's website displaying in Chinese and out of action for two weeks during a crucial trading period.
"I suppose in hindsight, we were taking this for granted a little bit," Mr Maben admitted. "We're too small for cyber hackers - I didn't think little old Kevin's Schoolwear would provide that kudos for them. But we now understand that we are vulnerable to much less sophisticated attacks, and small businesses are actually, in proportion, more vulnerable to these sorts of attacks."
The episode provides practical advice for independent retailers, including:
- Implementing strong passwords and multi-factor authentication
- Regular system updates
- Staff training on recognising phishing attempts
- Creating a crisis management document on paper
- Seeking advice from IT specialists
- Considering Cyber Essentials certification
Ms Minkow added: "It does seem like a really costly investment, but it is going to be far more expensive if down the line you're reacting to it rather than preparing for it in advance. Any strong data strategy should incorporate a cybersecurity plan."
This episode of the podcast is available here. More resources and support for independent retailers can be found at bira.co.uk.
