In today’s digital age, cyber crime has emerged as a significant threat to businesses of all sizes, especially Small and Medium Enterprises (SMEs). With increasing reliance on technology, SMEs are becoming prime targets for cybercriminals seeking to exploit vulnerabilities. According to the UK Government’s Cyber Security Breaches Survey 2023, nearly 39% of UK businesses reported experiencing cyber security breaches or attacks in the past year. Additionally, the Ponemon Institute's 2023 study revealed that 65% of SMEs globally have been victims of cyber attacks, with a staggering 60% of these businesses closing within six months due to financial and reputational damage.

Cyber crimes, ranging from ransomware attacks and phishing schemes to data breaches and financial fraud, not only result in direct financial loss but also in long-term damage to a company's reputation. For SMEs, the financial strain of a cyber attack can be crippling. A report from Accenture found that the average cost of a cybercrime attack on an SME can reach up to £3.5 million, considering both immediate damages and recovery costs.

With these alarming statistics, it is crucial for SME owners to prioritise cybersecurity and take proactive measures to safeguard their businesses. This is where CityEdge comes in. As your trusted partner, CityEdge offers tailored accounting, taxation, and business support services that include robust cybersecurity and risk management strategies. Our team of experts provides SMEs with the tools and knowledge needed to strengthen financial security, protect sensitive data, and mitigate cyber threats.

We work closely with your business to integrate best practices into your financial processes, ensuring you are compliant with data protection laws, and we advise on tax implications in the event of a cyber attack. By partnering with CityEdge, you can focus on growing your business with peace of mind, knowing that your financial and operational integrity is protected.