Tag Archives: SMEs

Climate, News

NatWest launches digital Carbon Planner to help UK businesses manage future fuel and operational costs

NatWest has announced the launch of its Carbon Planner, a free to use digital platform designed to help UK businesses manage their future fuel and operational costs, and reduce their carbon footprint to help them go and grow greener.

The launch follows the bank’s broader commitment to lend £100bn to businesses in Climate and Sustainable Funding and Financing by 2025.

NatWest research revealed that more than 72% of businesses expect their business will face increased difficulty in light of inflationary challenges citing increased costs of energy (56%), increased costs of materials (56%), and increased interest rates (37%) as the most challenging effects of inflation.

Alison Rose, Chief Executive of NatWest Group, said:

“Climate change is one of the biggest global challenges we face today, and small businesses have a critical role to play in helping the UK realise its green ambition.

“NatWest Group is committed to supporting its customers to understand and reduce their emissions. The launch of Carbon Planner is an important example of how we are putting tools in the hands of our customers to use their own data to cut costs and carbon emissions.”

The NatWest Carbon Planner is a tailored solution that provides personalised actions based on customer- data, enabling customers to make decisions as part of their plan when looking to reduce their carbon emissions, while outlining the financial impact of adopting such actions. NatWest’s A Springboard to Sustainability report estimated that 55-70% of business cases to reduce emissions will make financial sense for SMEs by 2030.

The platform also provides content, resources and solutions to help businesses make informed decisions so they can put actions into practice.

NatWest suggests that by businesses better understanding the commercial and carbon impact of their business operations, they will be in a stronger position to navigate the current inflationary challenges and make decisions about reducing their carbon emissions. With an ever-increasing focus on climate, the Carbon Planner can also help businesses with the ongoing management of their carbon reduction strategies.

Solange Chamberlain, Chief Operating Officer, Commercial & Institutional, NatWest Group said:
“Businesses are coming under increasing pressure due to rising costs. Many are fundamentally strong businesses which are experiencing a massive shock to input prices.

“As a bank, we can help businesses invest to save by switching from volatile commodities to renewable sources with predictable prices, and support businesses in taking actions to measure, evaluate and act to reduce their climate impact.

“Every business should consider if cutting carbon could cut costs and it’s important that we support the business community explore their options through access to finance to invest in cost reducing measures like energy efficiency.”

How does it help businesses on their journey to net zero?

The Carbon Planner takes a business through four practical steps to help them take action:

  • Inform – lets businesses know their current emission hotspots and suggests alternatives
  • Diagnose – helps businesses understand what is best for their business
  • Plan – supports businesses in developing a plan of actions
  • Deliver – signposting potential options available to help them to take actions that can help their business and have the potential to reduce impact on the environment

The platform was customer-led in design and developed with the support of more than 1,000 businesses.

Feedback from testing among both NatWest and non-NatWest business customers revealed that more than 72% of businesses expect their business will face increased difficulty in light of inflationary challenges citing increased costs of energy (56%), increased costs of materials (56%), and increased interest rates (37%) as the most challenging effects of inflation.

More than half (58%) of businesses surveyed think they will need financial help in order to reduce their carbon footprint. 77% believed the Carbon Planner will be ‘extremely’ or ‘very’ valuable to their organisation.

The bank’s research also revealed that 87% of UK SMEs are unaware of their business’s total carbon emissions, despite good intentions – with almost half (45%) of UK SMEs recognising it is important to lower their emissions in the next five years.

NatWest engaged with environmental management consultancy, Green Element to develop the questions, actions and model. The bank also worked with other 3rd parties to develop the tool, including consultancies and academic experts.

Will Richardson, CEO, Green Element said: “Working with NatWest on this project has been a phenomenal experience. Being a part of the solution and solving problems is at the core of what Green Element do. Having worked in this space for 20+ years, seeing a large banking group push boundaries and help with the 1.5 degree goal we are all trying to reach is just brilliant to be a part of.”

John Bamford, Head of Advisory, Northern Europe, EcoAct, an Atos company comments:

“Achieving a company-wide transformation plan to reach net-zero requires clear direction from leadership. We are therefore excited to see how NatWest brings customers along in their net-zero journey by facilitating a tailored data-driven tool to support their transition to a low carbon economy.

“From identifying priority areas and actions for reducing emissions and tracking progress, to connecting businesses to the funding needed to deliver their net-zero transition plans, NatWest’s Carbon Planner will help unlock some of the barriers businesses face when determining which low-carbon choices are worth making while building up collective climate action.”

News

Manufacturers looking for long-term measures from the government (Authored by Kunal Sawhney, CEO, Kalkine)

The United Kingdom has a vast and vivid manufacturing sector, including various industries like electricity, water, mining, oil & gas, and many more. As per industry body Make UK, the current annual output of the UK’s manufacturing sector is about £183 billion, and it continues to maintain its position as the ninth-largest manufacturing country globally.

However, the industry has been going through a crisis due to rising inflation, and the businesses within it are facing growing pressures due to the rise of input costs and supply chain disruptions. Manufacturing is severely impacted by high energy and commodity costs. At the same time, finding talent has become a major challenge, with vacancies at record levels, at 4.1 vacancies per 100 jobs. According to ONS data, as on 10 June 2022 number of online job adverts was the weakest in the manufacturing sector when compared with three weeks ago, among all the major industries.

Pandemic and its impact on manufacturing

The COVID-19 pandemic had impacted almost all the sectors and manufacturing was among the severest hit with a significant reduction in the output in 2020. As per ONS data (Office for National Statistics), the total value of the UK’s manufacturing product sales declined by 10.8% to £358.7 billion in 2020 compared to £402.2 billion in the previous year.

While almost all the manufacturing divisions witnessed a decline in sales, the manufacturing of pharmaceuticals and paper and paper products witnessed modest improvement during the period. However, once the restrictions started easing, the output value of the sector began returning to normal despite high prices and supply chain bottlenecks, and it was being expected that things would be back on track by the end of 2022.

All the high hopes to see a turnaround by the year-end were dashed amid a worsening cost-of-living crisis. Producers of consumer goods struggled to raise the demand as households face surging energy bills and there is a continuous decline in consumer confidence.

The latest data revealed that British manufacturing activity expansion was weakest in May 2022 since January 2021 at 54.6. It clearly shows the squeeze on household finances and the risk of recession weighing on the minds of consumers. For yet another month, costs paid by manufacturers and selling prices witnessed a rise in May.

What is the sector asking for?

The Q2 survey report of Make UK/ BDO has revealed that investment has taken a big hit, and companies have been deferring or shelving their plans to maintain their cash flow, amid weakening consumer confidence with growth and orders showing a sharp decline. Exports are still not showing any signs of sustainable recovery.

Rapidly rising input costs may not leave the manufacturers to continue till Autumn, when Chancellor Rishi Sunak had promised help during the Spring Statement. The prevailing situation calls for an immediate and urgent need for help for the manufacturers, keeping in view the grim outlook for the next six months.

As per Make UK, manufacturers are now not looking at any short-term measures and would rather expect the government to focus more on business and foreign investors, which could portray the country in a more serious manner with a long-term vision.

  • Manufacturers have been asking the government to either remove or reduce the business rates for the coming one year.
  • SMEs should be provided with a waiver of VAT, while large businesses can be given some deferrals.
  • There has been a demand for the extension of the super-deduction investment policy, a means that allowed the businesses to claim a much higher tax deduction in the tax year of purchase for qualifying equipment compared to what it could have been normally.
  • The climate change levy should be stopped for the time being, and if the energy cost continues its rising spree, it should be completely abolished.
  • There is also demand from the manufacturers to make the increase in AIA (Annual Investment Allowance) permanent. Late last year, the government had temporarily increased the AIA from £200,000 to £1,000,000 for a qualifying outlay on plant and machinery.
Business Research, News

Cashflow growing concern for business leaders as SMEs face new challenges from rising costs and inflation

  • A new survey by alternative lender Capify finds most SME business owners concerned about cashflow and cash reserves, with over half lacking confidence in existing banking partners to meet future borrowing needs. 
  • But survey also points to resilience and optimism in UK SMEs, with 60% expecting turnover and headcount growth in the next 12 months.

A growing number of business owners are being kept awake at night by worries over cash flow. A Q1 2022 Confidence Survey released today by small business lender Capify, finds 37% citing cash flow as a major concern (up 14pp from 23% in Q4 2021). Whilst a further 13% were concerned specifically about non-payment of invoices.

The survey, in which the majority of respondents reported turnover of between £1m and £10m, also found just under 60% of SME owners worried about the impact of rising costs and inflation on their businesses.

Despite 56% reporting turnover growth in the past 12 months, the survey finds a more challenging conditions for the first quarter of 2022. Reflecting on business performance in Q1 2022, 37% of companies say they are behind on their targets.

These challenges appear to be contributing to a negative trend in the cash position of UK SMEs. Over half of the survey respondents (53%) were concerned about the levels of cash in the bank, whilst 43% report having less than £50,000 in the bank (an increase of 6pp on Q4 2021).

47% of respondents identify these working capital/ cash flow struggles as the primary driver for seeking external finance. But 52% of those surveyed state that they would not be confident of securing that finance from their traditional banking partners.

John Rozenbroek, CFO/CCO at Capify, said: “Cashflow continues to be a real and growing issue for UK SMEs”

“Some businesses have endured a torrid time over the past two years. UK SMEs have had to develop a deep resilience to deal with the impacts of Brexit, the pandemic and global supply chain complexities”.

“Like all of us, UK business owners were hoping that 2022 would see an return to ‘normal’ business operations and growth. Unfortunately, the impact of rising prices and the tragic war in Ukraine is adding further challenges and worries to this vital part of the economy. There is a growing sense that they need help”.

Whilst many SMEs made use of the Government’s support mechanisms during the pandemic, there seems to be a widespread belief that the Treasury is doing little to help businesses deal with the new challenges. 94% of UK SMEs believe that the Chancellor’s Spring Budget will have no positive impact on business stability.

Despite those concerns, the survey found cautious optimism in its SME respondents, with 57% projecting a growth in turnover in the next 12 months.

Exactly half (50%) grew their profits over the past 12 months – with larger SMEs faring better than their smaller counterparts. 39% of larger SMEs (£5m-£10m turnover) grew profits by over 10% compared to 31% of smaller SMEs (Under £500k turnover).

Additionally, 51% of businesses expect to grow their headcount 2022, up 6pp from 45% in Q4, with 14% aiming for growth of 20% or more. Attracting and retaining the right talent is clearly a major enabler for SME growth, with 48% looking to invest in their acquisition and development of personnel.

Mr Rozenbroek added: “It is encouraging to see businesses responding to the challenges of today with pragmatism and cautious optimism for the future. The fact that the majority of our respondents are projecting growth in 2022 is testament to the resilience they have had to develop over the past years.”

“To ease the cash crunch and address the staffing shortages, access to finance will play a critical role over the coming months. It is likely that things will get worse before they get better for the UK SME community, but at Capify we will continue to help small business owners in any way we can.”

The survey received responses from UK SMEs across a wide range of sectors, including construction, manufacturing, professional services, retail and IT services. Almost 60% of respondents had been trading for over 15 years.

News

SMEs see a bright future in 2022 and beyond

Research from leading professional services consultancy, Fusion Consulting Group, has found that small and medium sized enterprises (SMEs) are optimistic about the financial year ahead with 75% of those surveyed estimating that 2022 will see increased growth and revenue.

Other key findings from Fusion’s ‘Challenges and Opportunities affecting Small and Medium Sized Enterprises’ survey that assessed the current financial situation and commercial sentiment of SMEs and entrepreneurs from across the country included:

– Cash flow will have the biggest impact on their business in the next six months (38% of the respondents), closely followed by profitability (31% of those surveyed)

– Generating new business will be a key driver for SMEs – nearly a quarter (23% of respondents) stated that securing new business was the most important challenge that their business would face over the next six months

– Talent acquisition will continue to be crucial in ensuring that SMEs employ and retain high quality workforces with 18% of those surveyed stating it is a key challenge for them.

– 60% of the respondents had been affected by Covid-19 – 49% quoted that they had changed plans and timeframes of growth and extension of business plans over the last 12 months.

Small and medium sized enterprises, who make up 99% of the lifeblood of the UK economy, are keen for the government’s continued support with a call from many of the respondents for on-going government levies on business rates, lower rent and rates, a reduction of corporate tax burden, tax reductions on VAT to help cash flow and the creation of specific loans for SMEs or grants to those that achieve certain goals, like improving productivity or hiring additional personnel.

Adam Maurice, Director of Fusion Consulting Group, comments, “There is no doubt it has been a rollercoaster for many SMEs in the last few years – with the impact of the pandemic, Brexit, supply chain issues and for some the difficulty in retaining or recruiting new talent. Therefore, it is great to hear there is positivity in the air with some many looking towards a prosperous year ahead.

With small to medium sized organisations such an important part of the UK economy it is essential we support them in being able to grow their businesses, in turn helping the overall economy, providing jobs and allowing the UK to be a strong force both within the UK and Europe.”

Fusion Consulting Group offers 360-degree advisory services for fast growth businesses, including, tax, accountancy, digital marketing, legal and financial services.

 

 

News

More than 70% of UK SMEs say they’re bouncing back after the pandemic

More than 70 per cent of UK SMEs are making strong post-pandemic recoveries, according to a new study investigating the impact of Covid-19 on small businesses.

Just weeks on from the relaxation of restrictions on July 19th, 45 per cent of SMEs say they have already hit or surpassed pre-Covid levels of turnover, with another 26 per cent expecting to achieve that within a year.

More than 250 SMEs were involved in the survey by alternative lender Capify, which also highlighted how 48 per cent of UK businesses had adapted their business models in some way to survive during lockdown. Launching online sales (38 per cent) and adopting new services or products (38 per cent) were the two most popular answers.

The findings also made good reading for employment statistics, with over 50 per cent of SMEs making no permanent cuts to their number of staff over the past 12 months, despite 64 per cent using the Coronavirus Job Retention Scheme (CJRS) during the pandemic.

The second most popular Government-backed support used was the Bounce Back Loan Scheme (BBLS), which was taken up by 55 per cent.

The important role of alternative lenders alongside traditional banks through the pandemic was also highlighted, with 46 per cent saying they would look to traditional lenders for future loans and finance, closely followed by alternative finance companies at 39 per cent.

And with the survey finding that one in three businesses expect to need finance during the next 12 months, John Rozenbroek, CFO/CCO at Capify says the need for a range of financial options to support the UK’s economic recovery is clear.

“It’s fantastic to see that the majority of UK businesses are enjoying strong performances following the easing of lockdown restrictions, with many reaping the rewards of adapting their business models during the pandemic,” he said.

“The CJRS and BBLS clearly played important roles in keeping SMEs ticking over, but it’s also important to note that many small businesses went without much government support, having fallen through the gaps of various support schemes.

“Alternative finance has played a huge part in propping up and supporting businesses through the challenges of the last 18 months, and our data show that as an industry, it is now being considered by SMEs just as much as traditional lending options like high street banks.”

Despite the easing of restrictions, Covid-19 continues to impact SMEs with 54 per cent of survey respondents saying uncertainty over the future will be their number one challenge during the next 12 months.

“There is still a long way to go on the road to recovery for SMEs, even following the end of financial support from the Government, which is why alternative lenders like ourselves will need to be working closely with them,” added John.

“SMEs make up an incredible 99 per cent of the UK’s business population, and have companies across so many sectors have proven their resilience repeatedly, so it’s crucial for the economic recovery that SMEs continue to grow and succeed.”

News

How has the logistics industry helped small businesses successfully pivot in the last year?

According to government data, SMEs made up over 99% of the total business population at the start of 2020 — and this is the reason why thriving SMEs remain the backbone of rebuilding our economy. Across the UK, SMEs are getting back on their feet, employing workers and providing important services which fuel our local economies. 

At the start of the pandemic, SMEs were one of the hardest hit groups in UK business, with many businesses losing their custom overnight as the country went into lockdown. Yet it’s these same businesses that are now bouncing back, with many on major recruiting drives. How did they do this, and what can we learn for the future?

The SME small but mighty spirit is something to be proud of — they have been resilient because they have been innovative. News this month reported that 51% of small businesses have changed their operations in some way over the past year, including introducing online stores — that’s millions of businesses who have successfully adapted in order to flourish in the last year.

But it’s not just continual adjustment and sheer grit and determination which have got SMEs through the last year. The logistics industry has played a huge role in helping these businesses with warehousing, inbound and outbound transportation, materials handling, order fulfilment and inventory management, to name just a few areas.

How have logistics services have helped businesses rapidly adapt?

Over the last year, even between lockdowns, there has been a radical change in consumer behaviour. People have changed their shopping habits, preferring to order goods and services from the comfort of their sofa rather than take an unnecessary trip out. The unprecedented demand for online sales now looks to become ‘the new normal’. 

SMEs had to make fast and furious changes and the function of logistics became all the more important, moving towards the centre of SMEs’ relationships with suppliers and customers. Unfortunately, SMEs often don’t have the infrastructure to create and maintain the logistics of delivery efficiently, cost effectively and on time — and some make the mistake of trying to do it themselves. Often with no prior experience, successful SMEs sought assistance from logistics operators to handle the entire process, from packaging to transportation and customs procedures. Without expert logistics help, their rapid change in business would not have been viable.

Freight exchange platform Courier Exchange has received feedback from members noting how crucial strong courier capability and advanced technology was in helping their businesses adapt and thrive after the pandemic hit. They have nearly 300 5-star TrustPilot reviews. At a time when SME owners were feeling uncertain about the future and vulnerable to losses that they couldn’t recover from, logistics companies were coming to their aid behind the scenes. The Transport Exchange Group has been providing expertise, and through that — moral support. One reviewer explains how invaluable this has been:  

“When Covid and lockdown hit in March 2020, we lost all our work overnight, the entire industry shut down, and still a year on it is non-existent, putting my business in a very, very tight spot…thanks to being a CX member, I have managed to not only keep my company afloat by pivoting what we do, but also grow the same-day transport side of the business, which we will now continue to grow alongside our specialist work as that starts to slowly come back this year.”

How can logistics services continue to support small businesses?

Without the resilience, flexibility and agility of SMEs, the future of our economy would look stark. Lyall Cresswell CEO of Transport Exchange Group says:

“Recovery from the global pandemic offers a chance for SMEs to adapt and reset their ways of working for profitable and sustainable growth. Due to increasing demand, high-quality transport and logistics partners will be at the forefront of this as they help businesses to deliver products on time to satisfied customers. The more efficient the logistics, the more profit an SME can make for accelerated growth. At Transport Exchange Group we aim to provide the digital tools and access to a massive pool of loads that a courier or haulage business needs to adapt and to thrive in the future.” 

The benefits of effective logistics services for small businesses

  • Improved customer experience — delivering orders accurately, quickly and on time increases brand trust and encourages repeat sales and sales through recommendations
  • Enables growth — solid management of inventory, transport and delivery practices helps businesses scale up to fulfill a higher quantity of orders
  • Prevents loss — reduced risk of damage to products through optimal transport conditions and tracking 
  • Technology streamlined process — for complete supply chain visibility, real-time tracking, risk assessment, reporting and improved customer communications and service
Business, News

Oxford-AstraZeneca vaccine approval provides optimism for UK and its private sector as we enter the new year

As a turbulent 2020 comes to an end, we can all look forward to some form of normality as we venture into the new year after the approval of the Oxford-AstraZeneca vaccine, which is expected to be rolled out in the UK next week. With almost half of Britain now under tier 4+ restrictions and many small businesses facing closure after a difficult festive period, such news is sure to bring optimism for businesses and investors alike as we enter the new year, providing much needed rest-bite for businesses to help them recover and enable future growth.

Since the onset of the pandemic, the vaccine roll-outs have been the first real news announcement that has viable potential to support society back to “normal” and this is in no small part down to vital biotech innovation that has been able to move forward at record speed when it was crucially needed. Today’s landmark announcement comes as a welcome reminder for the UK’s investor community to support future facing innovation both by way of R&D and scale-up finance; arguably, despite the global benchmark set with today’s announcement, the cumbersome nature of pharmaceutical advancements has definitely been brought into focus with the onset of the pandemic.

Private investment is a vital catalyst for wider economic growth – with the UK’s high net worth community providing essential early indicators for the direction of wealth at a time where the distribution of capital is key. With a 12% increase in new businesses starting up during 2020 compared to 2019, the new year is set to create some exciting investment opportunities for investors throughout the country and some that are sure to boost the wider British economy.

Over and above its financial impact, the vaccine also serves as a significant moral booster for the UK’s workforce in a period where uncertainty is rife and the economy is only as strong as the workforce that underpins it. The wider sentiments of returning the work safely is paramount and with the widespread roll out of the Oxford and vaccine to start next week, many across the UK will now be able to return to their jobs in a safe manner without having to worry about their health, furthermore helping to revitalise the economy from the ground up.

Private capital has proven to be fundamental in helping UK businesses grow and flourish post-pandemic, and will be a welcomed sight for many SMEs throughout the country. The news of the vaccine’s approval is sure to bring investment flowing back into SMEs and start-ups which is key for the resurgence of the UK economy, with the SME community making up 99.9% of private sector businesses.

Luke Davis, CEO of IW Capital says:

“The approval of the new vaccine is a welcomed sight for investors who now see an opportunity for growth, with such great news bringing optimism for both investors and small businesses alike as we enter the new year. Its roll-out will provide a vital boost for small businesses throughout the UK.

“It’s truly positive to see an increase in new businesses compared to last year even with the uncertainty and limitations that the pandemic has produced. With more and more people looking to start their own businesses, private capital is proving to be crucial for the development of these entities, and with the new year bringing hope to investors, we should start to see these new businesses grow and flourish post-pandemic.

“Here at IW, we prioritise BioTech investment as we understand the importance of the industry and its impact during these times. Now, there is a real need for investors to look towards the industry to support such future facing innovations that now play an integral role in our society.

“The SME community make up 99.9% of private sector businesses, and so supporting them to ensure their financial growth, is of the utmost importance to the overall health of the UK economy. Small firms already employ over 16million people in the UK, and pre-pandemic, this sector was growing at a faster rate than the overall job market. A return to this would provide a welcome boost.”

Cybersecurity, News

Guy Lloyd: The ugly truth – the real cost of cyber breaches to SMEs

Cyber security preparedness is more than a nice to have, an SME’s survival can depend on it. Guy Lloyd at CySure explains why.

Small and medium sized enterprises (SMEs) rarely trigger national headlines for breaches in data security and compliance, not because they aren’t a target but because the monetary impact is small compared to the big corporations. However, breaches are all too common and the while the cost of cyber breaches to SMEs, including the impact to business operations, remediation work and resultant fines, may not run into millions, it can do untold damage. SMEs are agile and lean in their business operations, and so unbudgeted costs can severely impact finances.

Such is the concern about the UK economy’s resilience to cyber attacks that the UK Government recently commissioned a study[i] to analyse the cost of cyber breaches. It found that organisations are being hampered from managing and mitigating cyber risks by a lack of transparency, awareness and understanding of the costs. UK businesses tend to overlook indirect and long-term costs when assessing the impact of a cyber breach. This leaves organisations woefully unprepared for the financial impact, which in the most extreme cases, can spell an end to the business. SME’s in particular are most likely to underestimate the costly impact from non-compliance with cyber security breach-related laws and regulations, therefore leaving them unprepared for any potential fines.

Bumper year for cyber crime

The Coronavirus pandemic has provided cyber criminals with a fertile ground to execute scams and reap a bounty of riches. Attacks designed to steal valuable company and customer information have skyrocketed in 2020. Interpol[ii] reported that in a four-month period some 907,000 spam messages, 737 incidents related to malware and 48,000 malicious URLs, all related to COVID-19 were detected. With many of us working/schooling from home, our concentration levels have been tested to the max. When under pressure and distracted it is easy to click on a phishing email or unknowingly visit a scam website. The rush to remote working has opened up opportunities for hackers and any company with lax security measures makes easy pickings.

Work smarter, not harder

In today’s GDPR world no company can afford to be naïve or negligent about regulatory compliance. Cyber Essentials is the UK Government-backed scheme that aims to help organisations protect themselves against common cyber threats. It offers organisations a way to demonstrate to customers and suppliers a commitment towards cyber security and data protection by achieving an accredited and registered certification standard. It lays the foundation to developing policies and procedures to mitigate against threats that can impact business operations.

Getting started can seem daunting but achieving certification doesn’t have to be. Using an online compliance risk management system that incorporates GDPR and Cyber Essentials Plus is a simple and cost-effective way to achieve certification. SMEs should look for a solution that can guide them through a gap analysis to highlight the business areas to focus on.

Cyber security doesn’t need to be complex, costly or confusing. A low cost, simple set of actions as defined in Cyber Essentials can go a long way to protect against common attacks.

Preparedness in uncertain times

Business confidence comes from understanding the risks involved and the knowledge that should the worse happen it is possible to keep calm and carry on. Being certified with a creditable scheme delivers the assurance that SMEs can demonstrate their commitment and attention to bolstering cyber defences.

Uncertain times can hit when we least expect but the benefit of certification through with help from an information security management system (ISMS) is knowing your business is prepared. Now more than ever we should be celebrating business resilience and preparedness.

[i] Analysis of the full cost of cyber security breaches Report
[ii] Interpol report shows alarming rate of cyberattacks during COVID-19