Retra: Think Cyber Crime
No Business is Too Small. This is Why Electrical Retailers Must Take Cyber Security Seriously W
hen most independent electrical retailers think about cyber-crime,
they picture major corporations like Marks & Spencer or Jaguar Land Rover making headlines aſt er suff ering devastating attacks costing millions of pounds. It’s easy to assume that small businesses, tucked away on the high street, simply aren’t on hackers’ radar. Aſt er all, why would cyber criminals bother with a local electrical shop when they could target multinational giants? This dangerous misconception is exactly what the latest episode of Bira’s ‘High Street Matters’ podcast set out to challenge. Titled ‘No Business Too Small - Protecting Independent Retailers from Cyber Crime’, the episode reveals an uncomfortable truth: independent retailers, including electrical shops, are not only at risk - but they’re also increasingly becoming prime targets. The statistics are sobering. Research shows that 61% of small and medium businesses were the target of a cyber-attack in 2021, a fi gure that has only grown in recent years. Melissa Minkow, Director of Retail Strategy at CI&T and a retail futurist featured on the podcast, explains why small businesses are particularly vulnerable: “Small businesses are oftentimes making the assumption that they wouldn’t be the target because they’re collecting less data. But this is an issue that every retailer, unfortunately, is facing regardless of size.” For electrical retailers specifi cally, the risks
are particularly acute as every card transaction processes customer data, every online order collects personal information. Many Retra members now maintain websites, use online ordering systems, communicate via email, and process digital payments - creating entry points for cyber criminals. Andrew Goodacre, CEO of Bira, observes a
troubling trend among independent retailers: “There is a groundswell of perception within small business owners that this kind of hacking is really just a thing that happens to big companies and not small ones. It’s a kind of head in the sand approach, not wanting to really face up to that
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www.ierdaily.co.uk
Bira CEO Andrew Goodacre
Above: Jeff Moody - Retra Director
harsh reality that they may be liable.” The podcast features Andrew
Maben from Kevin’s Schoolwear in London, who experienced this reality fi rsthand when his business was hit by a DDoS (Distributed Denial of Service) attack a couple of years ago. The fi rst indication something was wrong came from confused customers calling to report that the website wasn’t working - and was displaying in Chinese. The attack left the business’s online shop out
of action for two weeks during a crucial trading period. “I suppose in hindsight, we were taking this for granted a little bit,” Mr Maben admitted. “We’re too small for cyber hackers - I didn’t think little old Kevin’s Schoolwear would provide that kudos for them. But we now understand that we are vulnerable to much less sophisticated attacks, and small businesses are actually, in proportion, more vulnerable to these sorts of attacks.” Electrical retailers face unique vulnerabilities selling high-value items that criminals want to obtain fraudulently and you’re processing signifi cant payment transactions daily. Many members now operate hybrid models, selling both in-store and online, which multiplies potential attack surfaces. A breach doesn’t just aff ect your business - it could compromise your entire supply chain or expose your customers’ data, leading to severe reputational damage and potential legal consequences under GDPR regulations. The good news is that cyber security doesn’t
have to be overwhelming or prohibitively expensive. The podcast provides practical, actionable advice that any electrical retailer can implement immediately. Start with the basics: strong passwords, multi-factor authentication, and regular system updates are simple but eff ective fi rst steps. Train your staff , as phishing emails are becoming increasingly sophisticated and everyone in your business needs to recognise the warning signs. Mr Goodacre emphasises the importance of having a documented crisis management plan
PEOPLE MAKE THE DIFFERENCE
on paper (not just digitally) outlining what to do if you’re attacked. Mr Maben’s key recommendation is to have an initial conversation with an IT
specialist. “Get started, get talking, fi nd out what you can, and then start to make appropriate decisions for your business with the risks that you identify.” Consider Cyber Essentials certifi cation,
a government-backed scheme that helps businesses understand their risk level and may become increasingly important for business insurance. And invest in security software. As Ms Minkow notes, “It does seem like a really costly investment, but it is going to be far more expensive if down the line you’re reacting to it rather than preparing for it in advance.” Beyond preventative measures, electrical
retailers should ensure they have proper fi nancial protection in place. Cyber cover is an essential part of your business insurance policy. This cover protects against the fi nancial consequences of cyber-attacks, including system downtime, data recovery costs, legal fees, and regulatory fi nes - all of which can have devastating impacts on a small business. Retra strongly advises you to check your policy and add the cover if it’s not included in your current policy. Contact Gallaghers, who off er preferential rates for cyber cover to Retra members. This episode of ‘High Street Matters’ is just one example of how Bira’s podcast series tackles the real challenges facing independent retailers today. From accessibility and retail crime to using AI for social media and building customer trust through online reviews, the podcast covers the subjects that matter most to your business. The message on cyber security is clear: no business is too small to be a target, but equally, no business is too small to take action. For electrical retailers operating in an increasingly digital world, the time to act is now - before you become another statistic. Listen to High Street Matters by searching
‘High Street Matters Bira’ online, or visit
bira.co.uk for more resources and support.
Winter 2025
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