Manufacturing News

Gov announces $10m funding to help small businesses with cyber security

A new $10 million cyber security initiative announced by the federal government today will help small businesses secure their own and their customers’ data. 

Over the next two years, eligible small businesses can apply for individual grants of up to $2,100, covering half the cost of having their cyber security tested by service providers approved by the Council of Registered Ethical Security Testers Australia New Zealand (CREST ANZ).

Minister for Industry, Science and Technology, Karen Andrews said the grants initiative forms part of the government’s Cyber Security Small Business Program.

 “The Liberal-National Government recognises that confidence in the security of data is vital both to businesses and their customers, and thousands of Australian small businesses stand to benefit from this funding, helping them secure their digital assets,” Minister Andrews said.

 “Small businesses are the backbone of Australia’s economy and this funding from the Liberal-National Government underlines our determination to help provide a healthy digital environment so they can prosper.”

The second component of the Cyber Security Small Business Program is a $2 million grant to CREST ANZ, enhancing its capacity to help small businesses with cyber security.

 “Support from CREST ANZ will provide pathways for small businesses to take advantage of the economic opportunities that connected technologies provide.”

 “The Coalition Government is committed to keeping Australians safe and our businesses competitive, while protecting our interests online – that’s why we are focused on developing Australia’s cyber security industry and growing jobs within this sector.”

 Today’s launch of the Cyber Security Small Business Program is the final step in delivering a measure announced under the Liberal-National Government’s 2016 Australian Cyber Security Strategy.

 The cost of cyber-crime to the Australian economy is estimated at about $1 billion annually and this initiative, along with the comprehensive suite of measures under the Cyber Security Strategy, is designed to ensure all players in our economy, large and small, remain resilient and competitive in the face of growing and constantly evolving online threats.

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