Grants for Businesses to Improve Cyber Security in Ireland: A Critical Need for SMEs
In today’s rapidly evolving digital landscape, the importance of robust cyber security measures cannot be overstated. With cyberattacks becoming more sophisticated, it is critical that businesses, particularly small and medium-sized enterprises (SMEs), invest in protecting their digital infrastructure. In Ireland, where SMEs represent 68.4% of all employment in the business economy, addressing this need has become a national priority.
Why Cyber Security Support Is Crucial for SMEs
The SME sector is the backbone of the Irish economy, employing over two-thirds of the country’s workforce . However, many SMEs lack the resources to invest in the necessary cyber security measures to protect themselves from increasingly common threats. While larger corporations often have dedicated IT security teams, SMEs frequently operate with limited budgets and IT expertise, making them more vulnerable to cyberattacks.
Cyberattacks can have devastating consequences for SMEs. A successful breach could result in financial loss, damaged reputation, and even closure. As the digital economy continues to grow, these businesses must be equipped with the tools and knowledge to defend themselves against cyber threats. Government support, in the form of grants and funding, is therefore essential.
New Funding Opportunities for SMEs
The Irish government has recognised the pressing need for cyber security support, particularly within the SME sector. In response, several initiatives have been introduced to help these businesses improve their cyber defences.
A significant development is the creation of the National Cybersecurity Coordination and Development Centre (NCC-IE) project, launched in May 2023. This €4.2 million project will provide critical funding for SMEs to enhance their cyber security resilience through research, innovation, and the adoption of cutting-edge solutions.
The NCC-IE project will distribute EU and national funds to SMEs over the next two years. It is jointly funded with €2 million from the EU and €2.2 million from Ireland’s Department of the Environment, Climate and Communications (DECC). This initiative aims to boost the uptake of advanced cyber security solutions by coordinating with industry experts, academia, and research bodies.
Enterprise Ireland’s Cyber Security Review
A key initiative for SMEs looking to enhance their cybersecurity measures is the recently announced Cyber Security Review, launched by Enterprise Ireland (EI) in collaboration with the National Cyber Security Centre (NCSC). This initiative offers Enterprise Ireland client companies access to cybersecurity experts who will conduct an independent review of their cybersecurity status. The review will identify vulnerabilities and provide a clear, actionable roadmap for improving security measures.
The Cyber Security Review is designed to meet the specific needs of Irish businesses, offering tailored advice in line with the NCSC’s framework. This initiative is particularly relevant for SMEs that are at the beginning of their cybersecurity journey or looking to take the next step.
Key areas covered in the review include:
- Software Updates
- Data Backups
- Access Management
- Antivirus
- Network Security
- Device Management
- Cloud Risk
- Data Security
- Website and Social Media Security
- Remote Working
- Third-Party Risk
- Cyber Awareness Training and Culture
- Cyber Incident Response and Business Continuity Planning
- Cyber Governance
The review prioritises key issues, providing specific, measurable actions with named owners within the company. This ensures that businesses have clear steps to follow, with an expected timeframe of six to twelve months for implementation.
Financial Support for the Cyber Security Review
To help ease the financial burden on SMEs, Enterprise Ireland is offering funding for 80% of the fixed project cost of €3,000, covering consultant time, travel, and other project expenses. This provides an affordable way for businesses to gain expert insights and improve their cybersecurity posture.
The initiative also includes a thorough investigation of current company practices, including interviews with key personnel and a review of both on-site and cloud-based software. The outcome is a detailed report, structured according to best practices from the NCSC, that outlines practical steps for improving cybersecurity.
In addition to addressing immediate vulnerabilities, the report will signpost other industry supports and training that can help companies continue their cybersecurity journey. While no project can guarantee complete protection against attacks, the goal of the Cyber Security Review is to reduce risks, improve incident response capabilities, and embed a culture of continuous improvement in light of evolving threats.
Cyber Remediation Grant from NCSC
The Cyber Remediation Grant from the National Cyber Security Centre (NCSC-IE) is available to companies that complete the Cyber Security Review. It offers 80% funding for projects up to €60,000, helping businesses implement the recommendations and address the vulnerabilities identified in the review. This grant is specifically designed to assist companies in fixing security weaknesses and strengthening their overall cybersecurity posture based on the expert findings of the review.
Why These Grants Matter
These grants are more than just financial aid; they are a lifeline for SMEs striving to protect their businesses in an increasingly digital world. With the backing of these initiatives, SMEs can access state-of-the-art cyber security solutions and expertise that would otherwise be out of reach due to cost barriers.
By strengthening their cyber security infrastructure, Irish SMEs can not only safeguard their operations but also enhance their competitive edge in a global market where cyber security standards are becoming increasingly stringent. These investments will not only protect individual businesses but also contribute to the overall stability of Ireland’s economy.
A Step in the Right Direction
Ireland’s commitment to supporting its SME sector in improving cyber security is a step in the right direction. The grants offered by the NCC-IE, Enterprise Ireland, and the NCSC provide much-needed financial assistance, helping SMEs safeguard their operations and ensuring the long-term resilience of the country’s business economy.
With cyber security threats on the rise, now is the time for Irish SMEs to seize these funding opportunities and invest in robust cyber security measures. It is essential not only for their survival but for the continued growth of Ireland’s digital economy.
Visit the Enterprise Ireland website for more information.
Vist the Cyber Ireland Grants Information webpage.
Contact CommSec on to arrange a cyber security review for your organisation.