Thinc insights
As the scale of cyber attacks rises in the UK, SMEs are facing not only direct threats but also mounting pressure to meet stricter security standards from major brands. Here are seven steps you can take to be ready.
October marks Cyber Security Awareness Month, a timely reminder that businesses of all sizes are at risk from digital threats. For small and medium-sized enterprises (SMEs), the challenge can be overwhelming. Limited resources and growing reliance on digital systems mean SMEs are often prime targets for cybercriminals, whose attacks are becoming increasingly sophisticated.
This year has seen cyber security make bigger headlines than ever in the UK, owing to the size of the businesses targeted. One of the biggest lessons, we believe, comes not just from the risks of direct attacks on SMEs, but from the impact of supply chain disruption – when big retailers, automotive giants, or manufacturers are hit by a cyber breach, the ripple effects are felt across their networks of suppliers – many of which are SMEs.
Recent high-profile cyber attacks on major retailers and automotive firms have highlighted a critical truth: cyber risk doesn’t stop at company borders. What we mean by that is: when a large organisation suffers a breach, the effects often cascade down to smaller suppliers, disrupting contracts, delaying payments and, ultimately, impacting operations.
But the challenges don’t stop there. Once large firms recover, they will inevitably tighten their cyber security expectations across their supply chains. This means SMEs will be required to demonstrate higher levels of security compliance if they want to continue doing business with the household names. Richard Stathers, Operations Director at Thinc, has added to this with the following:
Big firms will now, more so than ever, expect suppliers to have defined plans for business continuity, incident response, backups, with the accreditations to prove it. Disruptions in one link in the chain, supplier or vendor, can escalate; thus firms expect suppliers to have resilient setups in place.
Just as the NHS and other public sector organisations require suppliers that hold personal data to have Cyber Essentials accreditation, we can expect major private sector buyers – like supermarkets, manufacturers and retailers – to impose similar requirements. Suddenly, it’s not just about the quality of the product or service you provide, but about being a trusted, reliable partner who is safe and secure to deal with.
The tightening of supply chain security standards isn’t a matter of if, but when. Here are some of our practical steps that SMEs can take today to get ahead.
Managed firewalls remain a critical first line of defence, but they are only effective if they’re properly configured and actively managed. Spend time reviewing your firewall policies to ensure they are blocking malicious traffic, up to date and aligned with best practices.
We offer a complete managed firewall service to give you peace of mind that your defences are continuously monitored. If you’re looking for more on checking that you’re observing firewall best practices – get in touch with our managed services team and we’ll talk you through where to start.
It’s not enough to simply have policies in place – they need to be current, actionable and communicated across your business. Review areas like password management, access controls and incident response to ensure you’re meeting the standards that the larger firms will demand.
Cyber Essentials is already mandatory in many areas of dealing with the public sector and it is becoming increasingly important when bidding for tenders – it’s highly likely similar requirements will become a widespread standard when serving private sector supply chains.
By achieving Cyber Essentials certification now, SMEs can demonstrate they take cyber seriously and are ready to meet buyer expectations. Cyber Essentials and Cyber Essentials Plus accreditation demonstrates to your teams, suppliers and customers that security is where it needs to be.
Every laptop, tablet and smartphone is a potential gateway for attackers. Strong endpoint protection ensures these devices are safeguarded against malware, ransomware and unauthorised access.
Regular vulnerability assessments identify weaknesses in your systems before attackers do. By fixing gaps early, SMEs can avoid disruption and strengthen their case as a secure, trustworthy supplier. In a similar light, our cyber security health check can help you to identify any remaining weaknesses in your setup.
For cyber resilience, you need to think outside of just your business – it’s also about your entire supply chain. Assess the security posture of your suppliers and partners to reduce overall risk. Being more cyber secure yourself makes you less of a liability in the chain and therefore more attractive to large buyers.
Despite best efforts, no defence is 100% proof. Having an emergency response and business resilience plan in place ensures that if the worst happens, your operations can recover quickly and maintain trust with clients.
The future of supply chains is clear: secure businesses will start to be favoured over those that are not. SMEs that fail to meet rising standards risk being excluded from lucrative contracts, regardless of how strong their core product or service may be.
By acting now, you can:
October’s Cyber Security Awareness Month is the perfect opportunity to check in on your cyber defences and ensure your business is not the weak link in your buyer’s supply chains.
Whether you’re using October to become more aware, or are growing concerned by the increase in attacks on businesses large and small, we’re here to help you recognise the threats so that you can take action to strengthen your cyber security. As bigger firms raise the bar for security standards, SMEs must be ready to prove they are safe, reliable partners. With the right support, you can protect your business but also secure your place as a trusted supplier.
At Thinc, we bring together expertise in ERP and finance systems such as Sage 200, SAP Business One and Sage Intacct, as well as the breadth of managed IT services and cyber security expertise to provide SMEs with the business efficiency and the comprehensive protection they need. Whether it’s reviewing your firewall policies, securing endpoints, guiding you through Cyber Essentials, or preparing a robust resilience plan, we’re here to help you safeguard your future.
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