Managing Cyber Risks: Essential Steps for SMBs in the UK

Managing Cyber Risks: Essential Steps for SMBs in the UK

In today’s rapidly evolving digital landscape, managing cyber risks effectively is crucial for UK businesses to avoid costly breaches and maintain operational resilience. Recent data highlights that over 50% of businesses have experienced some kind of security breach in the past year, underscoring the urgency for proactive measures. Here are a few key steps Business Leaders should take to mitigate cyber threats:

Stay Informed About Regulatory Changes

The UK is introducing stricter cybersecurity regulations, including the strengthening of UK GDPR & Data Protection Laws and the Product Security and Telecommunications Infrastructure (PSTI) Act, which will come into effect in April 2025. Staying updated on these changes is essential to ensure compliance and avoid hefty fines. Implement robust data protection policies and conduct regular cybersecurity audits to align with evolving laws.

Address AI-Driven Threats

AI is transforming cybersecurity, but it also empowers cybercriminals. AI-driven threats, such as automated phishing attacks and AI-enhanced malware, are becoming more sophisticated. Invest in well designed and easy to manage threat detection services and train employees to help them identify any cyber threats or scams. Implementing multi-factor authentication (MFA) and advanced email & web filtering can help to prevent unauthorised access.

Bridge the Cybersecurity Skills Gap

UK organisations across both Public and Private sectors faces a significant cybersecurity skills gap, with 90% of technology leaders acknowledging this challenge. Address this by investing in employee training and hiring fractional cybersecurity experts. We can’t avoid human error, but by upskilling and training our existing employees we can try to reduce the impact and likelihood.

Secure Remote Work Environments

With hybrid and remote work now the norm for most organisations, securing cloud-based systems and personal devices is critical. Enforce strict remote work security policies, including secure remote usage and endpoint encryption. Regularly conduct cybersecurity drills to test response effectiveness.

Develop Incident Response Plans

Preparation is key to mitigating damage from cyber incidents as much as possible. Develop a robust incident response plan that caters for the different scenarios, as a ransomware attack may require a very different response to an accidental data disclosure, with clear roles and responsibilities (and don’t forget to a communications plan for internal and external stakeholders). Get your teams to perform tabletop exercises of the plans to ensure familiarity and identify gaps.

Evaluate Cyber Insurance

As cyberattacks become more frequent and costly, cyber insurance is no longer a luxury but a necessity. Evaluate cyber insurance policies to ensure coverage aligns with potential risks. Implement proactive risk management processes and strategies to lower insurance premiums and ensure that claims are not easily rejected.

Adopt AI Cyber Security Standards

The UK Government has introduced a world-first AI cyber security standard to protect AI systems from cyber-attacks. This standard provides guidance on securing AI systems against hacking and sabotage, ensuring that models are developed and deployed securely. Adopting this standard can help businesses thrive in the age of AI while maintaining security.

Conclusion

In 2025, managing cyber risks requires a proactive and multi-faceted approach. With such a breadth of areas that require your attention, such as staying informed about regulatory changes, addressing AI-generated cyber threats, bridging the skills gap, securing remote work environments, developing incident response plans, evaluating cyber insurance, and adopting AI cybersecurity standards, it’s critical that UK SMBs don’t let their guard down to the risk of a cyber breach. As the threat landscape continues to evolve at pace, staying ahead of emerging risks is crucial for maintaining operational resilience and achieving long-term success.

By engaging with Somniac Security, our experienced team can help you build and maintain the appropriate strategies and processes for your organisation which enable you to effectively manage your cybersecurity risks.  Contact us at info@somniacsecurity.com today to help safeguard your business against tomorrow’s challenges!