A RECENT survey found more than a quarter of small and medium-sized businesses in the North-East had suffered an online security breach in the past 12 months.

Seventy-one per cent of those polled in Close Brothers quarterly Business Barometer, said they were very concerned about the impact such crime could have on their business.

Mike Randall, chief executive of Close Brothers Asset Finance said: “Cyber crime can prove to be a major barrier to growth for small firms.

“The Department for Business, Innovation and Skills estimates that this kind of attack costs the targeted company an average of £35,000 to £65,000.”

While 63 per cent of SMEs surveyed said that protection against online crime was a high priority, a fifth admitted that although they agreed it was an important issue, they had yet to look into it.

Mr Randall said: “No business would leave their office unlocked all night, and they need to take online security just as seriously.”