BIS funding for SMEs to help tackle cyber attacks

Illustration of padlocks
23 APR 2013
 
David Willetts, Minister for Universities and Science, announced today that the Department for Business, Innovation and Skills (BIS) will provide funding to help SMEs increase their cyber security, through a new Cyber Security Innovation Voucher.
 
The new Innovation Voucher, which joins a range of Innovation Vouchers from the Technology Strategy Board, will allow Small to Medium-sized Enterprises (SMEs) to bid for up to £5,000 from a £500,000 pot, to help improve their cyber security by bringing in outside expertise.
 
The guidance published today by BIS to help small businesses increase their awareness of cyber security and make it part of their normal risk management procedures, shows that more small businesses than ever are at risk of losing confidential information through cyber attacks.
 
 
The package of support we are announcing today will help small businesses protect valuable assets like financial information, websites, equipment, software and intellectual property, driving growth and keeping UK businesses ahead in the global race - David Willetts, Minister for Universities and Science
 
The 2013 Information Security Breaches Survey has shown that 87 per cent of small businesses across all sectors experienced a breach within the last year. This increase of over 10 per cent has cost small businesses up to 6 per cent of their turnover, when they could protect themselves for far less.
 
Minister for Universities and Science, David Willetts, said:
 
"Keeping electronic information safe and secure is vital to a business's bottom line. Companies are more at risk than ever of having their cyber security compromised, in particular small businesses, and no sector is immune from attack. But there are simple steps that can be taken to prevent the majority of incidents.
 
"The package of support we are announcing today will help small businesses protect valuable assets like financial information, websites, equipment, software and intellectual property, driving growth and keeping UK businesses ahead in the global race."