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East Midlands Chamber News

Cyber security boost for UK firms

New measures to help UK businesses face the cyber security challenge and help our companies tap into the US market have been announced today, as the Prime Minister visits the United States with UK cyber security firms.

The Prime Minister is in the US for talks with President Obama and cyber security is high on the agenda as the Government steps up its efforts to combat cyber threats against the industry.

In a bid to win more British business for the growing sector, a group of 12 UK cyber security firms are also travelling to Washington to meet a host of US businesses.

New Government support to keep UK businesses stay safe in cyberspace includes:
:: A new cyber security envoy appointed to help British small businesses and first-time exporters promote their business interests across the US. Andy Williams will be based in the British Embassy in Washington and help boost UK-US cyber security deals.
:: An updated ‘10 Steps to Cyber Security’ guide which shows businesses how to combat cyber threats.
:: New research published today by the Department for Business, Innovation and Skills (BIS) which shows top UK companies are improving their responses to cyber threats. The results of the annual ‘Cyber Governance Health Check’ for FTSE350 companies shows increased awareness and action, along with areas for improvement.
:: Publication of a new report from GCHQ detailing the common cyber-attacks used against industry by cyber criminals and how to stop them.

Prime Minister David Cameron said: “The UK is already leading the way in cyber security and this Government is committed to ensuring it continues to be a leader in this multi-billion dollar industry. That’s why on this trip I’m showcasing some of the leading UK cyber security small businesses, some of whom are already beating off the competition and opening offices and securing contracts in the US. We’re also stepping up the practical support we offer UK cyber security companies to make sure they have the best opportunity to win even more business in the US.

“We need to make sure the UK remains one of the most cyber secure places in the world to do business. It’s great news that even more companies have signed up to our Cyber Essentials Scheme to keep themselves safe and we will continue to invest in supporting companies of all sizes with their cyber security.”

Business Secretary Vince Cable said: “The UK has a world-leading digital economy, growing three times as fast as our overall economy and employing over a million people. Our businesses earn £1 in every £5 from the internet, so it’s vital that we work with them to combat online crime, and make sure large and small firms alike are protected.

“The measures we’re announcing today will boost the UK cyber security industry and ensure UK Plc can continue to stay safe and thrive online.”

The UK cyber security sector has world-leading capabilities and is worth over £6bn, employing 40,000 people. UK cyber security exports increased 22% from £850m to over £1bn during 2013 and are on track to meet a target of £2bn by 2016.

Further cyber security announcements made today include:
:: Improved cyber security information and advice for businesses via the Government’s Business Support Helpline, the Business Growth Service and www.greatbusiness.gov.uk
:: Funding for a new cyber security “Pre-Accelerator” programme to support early stage cyber security start-up firms and fast track them to success
:: Funding for a second US-UK Cyber Security Innovation Summit to showcase UK cyber companies, increase collaboration with US partners and support innovation
:: Companies across all sectors are realising the importance of protecting themselves from cyber threats and taking advantage of the support the UK government already offers to help businesses protect themselves. Five more FTSE100 companies (National Grid, GlaxoSmithKline, Standard Chartered Bank, Aberdeen Asset Management and Babcock International) and data firm EMC have today announced their intention to adopt the UK’s Cyber Essentials Scheme. The Cyber Essentials Scheme was launched in June 2014 and provides a set of basic controls to help all organisations protect themselves against the most common cyber threats. Over 200 companies have now achieved the Cyber Essentials badge with a further 150 in the process.
:: The announcements strengthen the Government’s National Cyber Security Programme (NCSP) which was launched in 2011 and is backed with £860m investment. It furthers the work of the Cyber Growth Partnership, the joint industry and Government group promoting growth and exports in the UK cyber security sector.

A number of commercial cyber announcements have also been made:
:: Washington-based cyber security specialist private equity firm Paladin Capital Group is also helping to grow the UK cyber security market by opening a new European Office in London.
:: And, following a successful pilot programme, Lockheed Martin is investing £250,000 in a cyber security Virtual Technology Cluster, bringing together industry, academia and the investment community, in partnership with London-based Restoration Partners. It will offer 2,500 UK tech innovators the opportunity to become involved in 5 cyber security contracts which could support a further 250 jobs in the UK.

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