Does my business need Cybersecurity?
The Cambridge Dictionary defines Cybersecurity as:
“things that are done to protect a person, organization, or country and their computer information against crime or attacks carried out using the internet:
Ineffective cybersecurity and attacks on our informational infrastructure put our nation at risk"
- There is a need to bolster cybersecurity as government agencies transition to cloud services.
- Nobody wants to skimp on cybersecurity at a time when hackers have invaded the computers of major corporations and even the Pentagon.”1
In our current times, with unsettling meetings between world leaders, “wars and rumours of wars”, international security is increasingly critical and increasingly uncertain. It is important for businesses of all sizes, organisations and charities to take stock of their cybersecurity.
Every business in Wales, both big and small, in Wales needs to research and invest in cybersecurity. A recent survey4 suggested that 72% of UK small businesses had experienced cyber crime during the previous two years and reports the average cost of a single breach is around £1,100 – rising to £4,690 for medium and large businesses.
What do cyber attacks do?
In addition to costs in terms of finance and business down time, cyber attacks can:
- disrupt critical data and assets
- impact continuity
- cause reputational damage.
Businesses also face statutory penalties if they fail to take adequate security measures to protect data held on behalf of third parties, such as customers or suppliers.
Phishing (90% of incidents) – is using scam emails, messages or phone calls to steal sensitive information.
Achieving a basic level of protection need not be costly or complex, and a wealth of expertise to help you achieve this is available in Wales.
Action for Business in Wales
Wales has a flourishing tech ecosystem – according to government figures worth an estimated £8.5bn to the Welsh economy. Almost 45,000 people are actively employed in the Digital Economy in Wales, underpinning the vital role of cybersecurity in protecting this thriving digital ecosystem.
Wales is leading a robust ecosystem is founded on a threefold foundation: investments from Government, interaction with businesses and dedicated educational institutions committed to cybersecurity. This enables Security companies, academia and the Tech sector to thrive in an era of Digital Transformation.
Government Cyber Action Plan
The Welsh Government Cyber Action Plan sets out a vision for Welsh business to prosper through cyber resilience, talent and innovation.
The Plan outlines four priorities:
- growing Wales’ cyber security ecosystem,
- building a pipeline of cyber talent,
- strengthening cyber resilience
- protecting public services.5
Together we’re stronger
The Welsh Government works closely with cyber security bodies within the country – such as the Cyber Resilience Centre for Wales – and outside its borders, sharing information and best practice. It maintains links with organisations including the UK Government, the UK National Cyber Security Centre, and law enforcement bodies throughout Britain and beyond.5
Business at Parc Felindre will gain from this outstanding basis in Wales for digital economies and cybersecurity. Have peace of mind within the tri-fold foundation and secure your business land available now.
Contact our agent direct for accessible, serviced Business Land available NOW!
References
1 https://dictionary.cambridge.org/
2 https://cyberinnovationhub.wales/
3 https://tradeandinvest.wales
4 https://www.gov.uk/government/statistics/cyber-security-breaches-survey-2023/cyber-security-breaches-survey-2023
5 https://www.gov.wales/cyber-action-plan-wales-html
