Australian Government Announces $18M For SMB Cyber Security Support 

According to a joint announcement by Minister for Cyber Security Clare O’Neil and Minister for Small Business Julie Collins, the Australian government is pledging an $18.2 million investment to help SMBs improve their cybersecurity resilience and response as part of the 2023-2030 Australian Cyber Security Strategy.
$7.2 million will be put towards establishing a voluntary cyber health-check program for SMBs to check their cyber security maturity and gain access to educational tools and materials they need to upskill. Also, high risk SMBs will have access to “a more sophisticated, third-party assessment to provide additional security across national supply chains.”
The remaining $11 million will go towards the Small Business Cyber Resilience Service which will provide one-on-one assistance to help small businesses navigate their cyber challenges, including walking them through the steps to recover from a cyber-attack.  

“Uplifting the cyber security of our small businesses is integral to a cyber secure and resilient nation, and this dedicated support will make a huge difference in their preparedness and resilience,” O’Neil said in a statement.

According to the Australian Small Business and Family Enterprise Ombudsman, there are more than 2.5 million small businesses in Australia, making it 97% of all businesses.

George McGregor, VP, Approov Mobile Security:

   “This is an important initiative – small businesses are especially vulnerable to cyber-attacks and don’t have the resources to invest heavily in skills and technology to defend their business. They also depend heavily on services and APIs offered by larger companies and without adequate protections can inadvertently provide a path for attackers to target those services too. We need to see more of these initiatives by governments to make implementing best in class security practices easy for SMBs.”

Anything that helps SMBs to protect themselves from cyberattacks is a good thing. SMB’s get the fact that they need to be protected, but they might need some help to get them across the finish line so to speak.

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