Small business benefits with cyber security grants

Small businesses can apply for grants of up to $2100 to help fund their cyber security costs.

Industry Minister Karen Andrews. Picture: Jerad Williams

Small businesses can apply for grants of up to $2100 to help fund their cyber security costs under a $10 million program to be launched by the Morrison ­government.

Industry Minister Karen Andrews said small businesses would have half the cost of their cyber sec­urity testing covered by the government under the Cyber Sec­urity Small Business Program.

The service providers would have to be approved by the Council of Registered Ethical Security Testers Australia New Zealand (CREST ANZ).

“The Coalition 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,” Ms Andrews said.

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

There will also be a $2m grant to CREST ANZ to enhance its cap­acity to help small businesses protect themselves from hacks.

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

Cyber crime is estimated to cost the nation’s economy $1 billion a year.

Ms Andrews last week launched the Cyber Security Industry Roadmap as a guide for how Australia can become a ­“global leader” in the cyber security sector, which is expected to be worth $US250bn nationally by 2026.

“The road map investigates how cyber security can enable our technology growth industries to seize business opportunities, and what actions and research priorities we will need to better take advantage of this burgeoning industry and the jobs it will generate for many Australians,” Ms ­Andrews said last week.