MISSING: Your Business Data
Why 80% of ransomware victims pay up, and how SMEs can protect themselves
When a company loses access to its data, it’s not just an inconvenience — it’s an existential threat. According to the latest Hiscox Cyber Readiness Report, 80% of small and medium‑sized businesses hit by ransomware ended up paying the attackers. Even more worrying: only 60% of those who paid actually recovered their data, and nearly a third were asked for more money afterwards.
That’s not a recovery plan. That’s a gamble.
Why businesses keep paying
The Hiscox report found that almost 60% of companies surveyed had experienced a cyber attack in the past year. For many SMEs, the pressure to pay comes from:
Downtime costs: Every hour without access to customer records, invoices, or files means lost revenue.
Reputation damage: Clients lose trust quickly when their data is at risk.
Survival instinct: Without the safety net of large‑scale insurance or deep reserves, smaller firms often feel they have no choice.
But as the numbers show, paying doesn’t guarantee recovery. In fact, it often deepens the problem.
What SMEs can do differently
At Viendo, we see the same pattern: businesses underestimate the risk until it’s too late. The good news is that there are practical, affordable steps to reduce exposure and improve resilience. A great starting point is the Cyber Essentials framework — a UK government‑backed scheme that sets out the basics every organisation should have in place.
Here are some of the essentials, adapted into everyday actions:
🔒 Secure your internet connection
Firewalls and routers need to be configured properly and updated regularly. Think of them as the lock on your digital front door.
🧩 Control access to your data and services
Apply the principle of least privilege — staff should only have access to the systems and data they need. This limits the blast radius if an account is compromised.
💻 Keep devices and software up to date
Cyber Essentials highlights patching as one of the simplest, most effective defences. Out‑of‑date software is like leaving your windows open — attackers know exactly how to climb in.
📊 Protect against malware
From antivirus to application whitelisting, the goal is to stop malicious code before it spreads. Combine this with regular, tested backups so you can recover quickly if something slips through.
🔑 Use strong passwords and multi‑factor authentication (MFA)
Weak or reused passwords are still the number one way attackers get in. MFA adds an extra layer, making it much harder for criminals to hijack accounts.
Why Cyber Essentials matters
Cyber Essentials isn’t just a checklist — it’s a baseline that proves to customers, insurers, and regulators that you take security seriously. For many SMEs, it’s also a stepping stone to more advanced certifications and a way to build trust with clients.
At Viendo, we use Cyber Essentials as a blueprint when helping businesses strengthen their defences. It’s not about ticking boxes — it’s about making sure the basics are covered so you’re not one of the 80% left paying a ransom.
The bigger picture
Hiscox also notes that attackers are increasingly focused on stealing sensitive business data — contracts, financials, executive emails — and threatening to leak them. That means the risk isn’t just downtime, but reputational blackmail.
For SMEs, the lesson is clear: prevention and preparation are cheaper than ransom payments and reputational damage.
Final thought
The parody “Missing Data” poster we shared recently makes people smile, but the reality behind it is serious. Data loss isn’t just about files; it’s about the survival of your business.
At Viendo, our role isn’t to scare you into action. It’s to help you build systems that are resilient, auditable, and ready for whatever comes next. Because the best ransom is the one you never have to pay.
Don’t wait until your data goes ‘missing’. By following the Cyber Essentials blueprint and putting the right safeguards in place, you can reduce the risk of ransomware and keep your business running. If you’d like to review your current setup or explore practical next steps, call us on 0330 107 5654 or book a free consultation below
