More than a third of small businesses in the United Kingdom have experienced successful cyber attacks in the past year, according to the Hiscox Cyber Readiness Report. The report is based on a global survey of nearly 7,000 people who make cybersecurity decisions in small firms, including 1,000 in the UK. It found that 38% of small UK businesses reported being hacked, making them the most affected among small firms worldwide, where 29% of companies had similar experiences. The financial impact of these cyber attacks is significant. On average, each cyber attack in the UK costs a small business £26,650 (about $35,908), while the global average is £38,604 (about $52,000) per incident annually. These attacks also lead to about 32 hours of operational disruption. Beyond immediate costs, cyber incidents have broader consequences. Nearly one in three companies worldwide reported that cyber attacks delayed their plans for growth and expansion, while similar numbers faced increased staffing costs, financial damage, and lost business opportunities. Over a quarter of affected firms also experienced financial penalties or bad publicity. To combat these threats, small UK businesses are investing heavily in cybersecurity. On average, they spend £44,294 (about $59,700) on resilience measures, which is the third-highest globally and above the worldwide average of around £38,000 ($51,000). There is also a growing trend of tying executive pay to cybersecurity performance. In the UK, 25% of small firms now use this approach, compared to 32% globally. Eddie Lamb, global head of cyber at Hiscox, emphasized that cyber risk is no longer an occasional event but a regular business cost. He noted that the increased investment in cybersecurity is a positive sign, as it shows businesses are taking control of the threat and working to protect themselves from future attacks.