Lost business, broken trust, and a damaged reputation – these are the hidden costs of a cyber attack.
Imagine this: A potential client is ready to sign a contract with you. They’ve done their due diligence, and your company seems like the perfect fit. But just before they commit, they run a final security check and find out that your business suffered a cyber breach last year.
Worse still, they discover that customer data was compromised. Their confidence in you vanishes instantly. They decide to go with a competitor instead, one with a proven track record of robust cyber security and certifications to back it up.
Cyber security is not merely an IT issue; it is a business-critical factor that can determine the success or failure of your organisation. A single breach can lead to devastating financial losses, severe legal consequences, and your reputation irreparably damaged.
Ensuring robust cyber security measures is essential to protect your business, maintain customer trust, and uphold your reputation in the market.
The Growing Threat: Latest Cyber Security Statistics
According to the gov.uk Cyber security breaches survey 2024, half of businesses (50%) and around a third of charities (32%) report having experienced some form of cyber security breach or attack in the last 12 months. This figure is even higher for medium businesses (70%), large businesses (74%), and high-income charities with £500,000 or more in annual income (66%).
By far the most common type of breach or attack is phishing, affecting 84% of businesses and 83% of charities. Other significant threats include impersonation attacks via email or online (35% of businesses and 37% of charities) and viruses or other malware (17% of businesses and 14% of charities).
These statistics highlight how widespread cyber threats are and how crucial it is to have a robust security strategy in place.
How a Cyber Breach Can Cost You Everything
- Loss of Future Business
When prospective clients evaluate potential partners, security is a top priority. A history of cyber incidents can quickly put your company on a “do not trust” list. Businesses—especially in industries handling sensitive data—are increasingly demanding proof of strong cyber security measures before signing contracts. - Loss of Current Clients
Trust takes years to build but only moments to destroy. If a cyber-attack exposes your customers’ data, they may take their business elsewhere. Even long-standing relationships can be irreparably damaged when clients feel their sensitive information isn’t safe. - Reputation Damage
News of a data breach spreads fast. Customers, partners, and even competitors will hear about it. The media may pick up the story, social media backlash can escalate, and suddenly your brand is synonymous with weak security. Rebuilding trust takes extensive effort, sometimes, the damage is permanent.
Turning the Tables: Cyber Security as a Business Growth Strategy
The good news?
The very thing that can destroy your business—cyber threats—can also be turned into a powerful competitive advantage. Companies that proactively invest in cyber security don’t just prevent attacks; they actively win new business, retain customers, and strengthen their market position.
Webinar: How Cyber Security Can Win Business, Keep Customers, and Protect Reputation
Join us for our exclusive FREE webinar, How Cyber Security Can Win Business, Keep Customers, and Protect Reputation, where we’ll show you how to transform your cyber security approach into a business growth strategy.
What You’ll Learn:
- How to align cyber security with business goals to drive growth and increase customer trust.
- The strategic advantages of adopting secure, cloud-based solutions for data protection and operational efficiency.
- Practical ways to leverage AI tools securely without exposing your business to unnecessary risks.
Key Takeaways:
- Actionable insights on using cyber security as a tool for business growth, customer trust, and resilience.
- A critical checklist for selecting the right AI tools while ensuring security.
- Best practices for demonstrating your cyber security commitment to clients and winning their confidence.
Cyber threats are here to stay, but businesses that prioritise security will thrive while others struggle. Will your company be the one that loses opportunities and revenue or, the one that gains them by demonstrating your unwavering commitment to security?
Secure your spot now and take the first step towards turning cyber security into your competitive advantage.
Date: 26th February 2025
Time: 12:00 – 12:45
