Security risks: British small businesses 'among most vulnerable'

British companies are among the most vulnerable to security threats, European research has found.

In a survey by computer security firm Symantec, 25% of UK respondents said that they had lost business as a result of recent security breaches, while 13% said they had suffered monetary loss. The results compare to average European figures of 17% and 8% respectively.

Across the nine European countries surveyed, 93% of businesses were aware of viruses, 91% of spam and 82% of Trojan horses. However, the research found that many had insufficient defences against newer threats, with 67% unfamiliar with minnowing and 65% unaware of whaling - both variants of the phishing attack.

The research also found that 53% of businesses surveyed had experienced an attack or crash on their system in the last year. Some 25% of businesses had a problem that had resulted in a loss of business, and 31% admitted that a system crash was caused by employee error.

"A security breach in any form, and on any scale, can impact a small business hugely," said Mike Cherry, home affairs chairman for the Federation of Small Businesses.

"The higher the awareness is of the need to protect against these threats, the safer the flourishing UK small business sector will be. Small businesses need to recognise that the information they hold about customers and partners is as valuable as any other asset."