It is vitally important that small businesses take basic security precautions when it comes to IT, an expert has pointed out.

Tony Neate, managing director of Get Safe Online, recommended that people regularly check their spyware, anti-virus, firewall, and enable their updates.

"Those are the four things that I think are paramount for any business, whether they are a single person, or sole trader, all the way up to nationals. They are the four fundamentals."

He specifically singled out those companies involved in e-commerce. "I think they've got to be more careful," he said.

"If a virus affects the system and it knocks out … your computer so you can't access the hard drive at all, then potentially you've lost all your accounts," he noted, saying that it can be a "nightmare" to rebuild things from this unfortunate position.

Having adequate IT support in place is important.

According to recent survey by Connect, the two biggest IT headaches for businesses were 'everyday hassles with IT' (37 per cent) and 'security concerns' (32 per cent)