- $15 million investment to deliver a free cyber security solution for small to medium enterprises.
- With cyber threats and cyber security an increasing key cost of doing business, this funding will support cost of living at the boardroom table.
- The 2024-25 State Budget allocates a record investment of $1.5 billion to further support skills, training, employment, and small business development across Queensland.
The new Miles Labor Government will invest $15 million of its $250 million war chest of industry support towards providing a free cyber security solution for Queensland small and medium businesses.
As part of the new Queensland Small Business Strategy 2024-27, a total of $15 million has been committed to help protect Queensland small businesses against cybercrime.
A tender for a provider to deliver a fit-for-purpose solution to support small businesses has today been released by the Department of Employment, Small Business and Training.
The types of cyber security infrastructure measures likely to be considered include cloud-based solutions and assistance with securing networks, implementing software, data encryptions, multi-factor authentication, operational controls, and compliance.
Strengthening local infrastructure and support networks in regional Queensland, while supporting more local resources, jobs, and effectiveness in delivery will be key.
The tender will be subject to our Buy Queensland approach that continues to leverage procurement power to back local businesses and support jobs growth, skills development, and innovation.
In Australia, the average cost per cybercrime is currently $46,000 for small businesses, and $97,200 for medium businesses with business email compromise and online banking fraud among the top issues.
As stated by Minister for Employment and Small Business Lance McCallum:
"Queensland's small businesses should be focussed on serving their customers – not defending their operations from international cyberterrorists – so this Labor Budget is delivering on what matters for them.
"Cybercrime is a multibillion-dollar global industry that threatens the wellbeing of our small businesses so we're taking real action by investing $15 million to provide a free cybercrime solution for Queensland's small business community.
"A tailored solution will be developed to protect small businesses – and importantly, this solution will be free for the sector."
"As part of our new Small Business Strategy: Powering small business, we will help small businesses to cope with the complexities of cyber security by implementing a free tailored approach to meet the needs of the sector.
"This Budget is about keeping our vital small business sector safe, open, and providing the platform to continue grow revenue, jobs, and innovation in Queensland.
"It helps to lower costs and fight inflation for small businesses, including with direct grant support, a $650 energy rebate for over 200,000 small businesses, a 20% discount on vehicle registration–including light commercial vehicles and trailers, freezing fee increases, as well as initiatives to boost productivity, and more funding for free financial counsellors."
