SMEs to receive four-figure sum to boost cyber security defence

The government has launched a £1m initiative to assist microbusinesses and SMEs in protecting themselves from the threat of cybercrime.

The scheme is just one in a bundle of initiatives intent on hardwiring UK firms against cyber intrusions and will provide a maximum of £5,000 for advice on improving cyber security, as well as protection for IP.

The Information security breaches survey showed that 74% of small firms experienced a breach within the last 12 months, costing businesses anywhere from £75,200 to £310,800.

Government experts from tech funding body Innovate UK will be overseeing the initiative. They will also be helping businesses to benefit from cyber security services and employ the government’s Cyber Essentials Scheme.

The bundle includes an internet-based careers and education platform to improve the UK’s cyber security talent base. The aim is to improve protection in both the private and public sectors.

Kevin Baughan, director of innovation and technology for Innovate UK, said:

“The schemes announced today will give cyber confidence for businesses and consumers, and will help our digital economy to flourish. The UK now has the opportunity to become a world leader in cyber security, creating the jobs of tomorrow and driving productivity and growth.

Businesses need to ensure that they educate themselves in the dangers of cyber threats and take advantage of such schemes. With improved talent available, they will have more to choose from when they decide to take action and open up cyber security jobs within their company.