3 May 2013

SMEs urged to explore £5,000 cyber security grant

 

Small and medium-sized businesses (SMEs) are urged to explore the option of bidding for up to £5,000 to improve cyber security.

The government’s Technology Strategy Board has recently extended its Innovation Vouchers scheme to create a £500,000 pot to help SMEs improve their cyber security by investing in outside experience.

Innovation Vouchers were brought in by the Department for Business, Innovation and Skills (BIS) to encourage SMEs to look outside their current network for new knowledge that can help them grow.

The grant of up to £5,000 is only available to businesses that are working with a new technology supplier for the first time and do not already have internal cyber security expertise.

BIS are also publishing new guidance to help SMEs deal with cyber security – helping to ensure that it makes up part of their internal business management procedures.

Last year it was estimated that 86 per cent of all small businesses reported at least one cyber security breach, up from 76 per cent the previous year.

Jeremy Gardner, Partner commented that cyber security is an increasing challenge for small and medium sized businesses, and is a hurdle that must be overcome to ensure future growth.

This new package of measures introduced by the government will help SMEs take small but meaningful steps towards effective cyber security.

For further information, please contact Jeremy Gardner.