BOUNCING BACK FROM A HACK

Eight out of 10 business leaders are worried about the financial implications of a cyber attack but just a third have an action plan should one occur.

The growing digitisation of businesses and their supply chains means there’s a greater risk of disruption from a cyber attack – and the financial impact of that is often overlooked.

A survey by Lloyds Bank revealed that two-thirds of firms thought it would take them six months or longer to recover from a cyber attack, while a fifth said a year or more.

Worryingly, more than two-fifths of businesses do not have a financial cash reserve in place to fall back on and just a quarter have dedicated cyber insurance.

Giles Taylor, head of data and cyber security at Lloyds Bank Commercial Banking, said: “The world is moving quickly and the reality today is that the economic impacts of cyber security can no longer be ignored.

“Until recently, cyber has been seen as a problem for the IT department to manage, but when the worst happens, the whole business suffers. A startling finding is that over a third of companies would pay a ransom to retrieve their data from an attacker when there is no guarantee that a business will get its data back or that its systems will be safe to use again.”

People in the pet business are being given the chance to grab a share of a £75,000 prize pot.

Nestle Purina is on the lookout for social innovators across Europe to enter its newly launched Better with Pets contest to find initiatives that enrich the pet-human bond.

Social and commercial enterprises, non-profit organisations and other groups working to harness the positive power of a bond between humans and pets can enter.

There are three categories: healthier together, connecting together and enjoying spaces together.

Winners will be selected at a special event in Barcelona in June.

But you need to be quick as applications close on Saturday.

Find out more at purina.oiengine.com.