Independent retailers are being urged to ensure they are clued up on IT security to minimise the risk of cyber crime, a new podcast from Bira (British Independent Retailers Assocation) has explored.
The latest episode of ‘High Street Matters’, titled ‘No Business Too Small – Protecting Independent Retailers from Cyber Crime’, tackles the misconception that small businesses are not targets for cyber attacks.
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 cyber attack 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 cyber attack 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.”
Practical advice for independent retailers includes:
- 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
Mr Goodacre emphasised the importance of preparation: “We need to get our members to think about the impact of a cyber attack. What would you do if you lost access to your website? How would you deal with it? That plan of action, committing those steps down, is becoming increasingly important.”
