Research reveals 84% of Welsh SMEs fearful of cyber attack

The vast majority of Welsh SMEs confirmed that they are increasingly worried about cyberattacks and their frequency, with 84% more fearful of a cyber-attack or data breach, according to new research.

However, despite 90% of Welsh SMEs confirming that they have also suffered a data breach or cyberattack, 31% of IT decision-makers in the region surveyed have no cyber strategy in place.

The report also highlights newer technologies such as 5G, robotics, AI and automation that UK-wide SMEs plan to adopt. 5G was a firm favourite with Welsh SMEs, with 54% planning on adopting this emerging technology, followed by robotics (44%) and blockchain (28%).

The research commissioned by IT services provider OGL Computer has revealed the top technology concerns and priorities for Welsh SMEs in its new report: The State of Technology at UK SMEs.

Key technology priorities for Welsh businesses include investing in increased use of AI (62%), increasing cyber security provision (41%) and adopting a proactive IT strategy (41%).While the main technology concerns for 2020 cyber security attacks (67%), keeping pace with competitors (64%) and a lack of technology-savvy workers (51%).

The report highlighted spend on IT and cyber security and reveals how the lowest planned expenditure is in Wales, where only 76% of SMEs planned to increase spend, compared to 100% of SMEs in the North East, North West and Yorkshire and Humber region, and those in Greater London.

Paul Colwell, Technical Director, OGL Computer and its cyber division CyberGuard Technologies, comments:

“The inaugural State of Technology at UK SMEs report reveals that the majority of IT decision-makers at SMEs have clear strategies for the future, and understand the opportunities and challenges that face their verticals in 2020. Handling these challenges, all with a fraction of the resources of their larger, corporate counterparts requires flexibility and demonstrates the resilience that gives SMEs the power to succeed. As we head into a new decade where the only constant is likely to be change, it is heartening to learn through our survey that SMEs continue to adopt innovative products and services.”

To develop the report OGL Computer surveyed technology decision makers in SMEs with 50-500 employees across a range of industries in Wales and the UK.
The report also revealed how SMEs are using technology to power remote workforces, what technologies they are adopting for growth and if they planned to move to the cloud. In spite of their familiarity with cloud technology, a sizeable 75% of Wales SMEs are nervous about moving from an on-premise IT infrastructure to a cloud infrastructure, due to concerns over data security.

Download the full report at www.ogl.co.uk/SOTreport2020