Closing the Skills Gap and Protecting UK SMEs Against Rising Threats
Cyber-security remains one of the most critical risks facing UK businesses — and the latest government labour market report shows that 49% of UK businesses lack basic cyber-security skills, while 30% lack advanced skills such as incident response and vulnerability assessment.
As cyber-attacks rise and regulations tighten, 2026 will be a turning point. SMEs — often operating without dedicated IT security teams — must strengthen their defences or risk financial, operational and reputational damage.
The Problems SMEs Face
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Lack of skills
Many smaller firms cannot configure firewalls, secure data systems, or maintain patching regimes. -
Over-reliance on third-party IT support
23% of businesses say they “lack confidence” in judging their provider’s security competence. -
Stricter regulatory expectations
Insurers, regulators and customers increasingly expect demonstrable cyber controls. -
Ransomware risk
The UK remains one of the most targeted countries for ransomware attacks, especially for SMEs with weak entry points.
The Minimum Cyber Controls Every SME Now Needs
Multi-factor authentication (MFA) across all systems
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Encrypted cloud backups, ideally stored offline or immutable
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Endpoint protection on every device
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Regular software patching with automated update policies
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Phishing and security training for all staff
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Incident response plan with clear roles, client notification procedures, and backup recovery steps
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Supplier risk assessment — ensuring outsourced providers meet basic security certifications such as Cyber Essentials
Cyber-Governance: The New Board-Level Requirement
Cyber-security is no longer an IT issue — it is a financial and governance issue. Boards and business owners should:
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Include cyber risk in the company risk register
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Report annually on cyber readiness
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Perform supplier security reviews
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Budget specifically for cyber-security improvements
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Consider cyber insurance (which increasingly requires evidence of strong controls)
How We Can Assist in Cyber Readiness
Accountancy firms are uniquely positioned to integrate cyber into financial risk analysis. Services may include:
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Cyber-risk gap analysis
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Budgeting for security upgrades
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Supplier-risk assessment
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Incident response cost planning
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Support in achieving Cyber Essentials certification
As threats grow and regulations evolve, SMEs need stronger governance — and cyber-security must become a core part of their financial planning.
Contact us if you feel you need any assistance to help you prepare your business