Intelligent Issue 01 | Page 6


Cybersecurity becomes fastest growing start-up sector in UK during COVID-19 pandemic
Funding has increased by a staggering 940 % for UK cybersecurity start-ups since the beginning of lockdown – with £ 496m being raised in the first half of 2020 , almost outstripping the 2019 total of £ 521m .
Investors have been quick to put their money towards start-ups specialising in cyber-risk management , as the pandemic forced CEOs to look beyond just financial or regulatory risk .
The findings come from a new report by global recruiter Robert Walters and data provider VacancySoft – Cybersecurity : Building Business Resilience – which claims that business spending on cybersecurity will double to £ 136bn this year .
According to the government ’ s Cyber Security Sectoral Analysis 2020 there are 1,221 firms active within the UK providing cybersecurity products and services – a 44 % increase in the last two years – indicating that a new cybersecurity business is registered every week within the UK .
Of this , 90 % of the sector consists of SMEs – with an associated estimated turnover of £ 2bn ( 24 % of the sector ’ s revenues ).
Entrepreneurs are hopeful for a stronger 2021 according to the report
Veem report captures snapshot of small business sentiment ahead of holiday season
Veem , a global payment network for small-to-midsize businesses , has announced the release of its quarterly report , State of Small Business : Q3 Edition : Pre-Holiday Snapshot . The report , which surveyed more than 900 small business owners , focused on a wide range of topics , including 2021 economic confidence , supply chain strategy and plans for the future ahead of the holiday season . Some key findings :
• Over 53 % of small business owners said they ’ re expecting increased economic activity next year compared to 2020
• A total of 60 % of small business respondents report their international partners to be important for their business
• The top three actions that small businesses report taking were decreasing operational costs ( 50 %), protecting cash flow ( 41 %) and applying for loans ( 27 %)
Facebook launches campaign to support SMBs in MENA region
Facebook has announced the launch of # LoveLocal – a new initiative to support local small and medium businesses ( SMBs ) in the Middle East and North Africa region which have been among the hardest hit during the COVID-19 pandemic . # LoveLocal campaign aims to support SMBs to enable them to regionally pivot to digital and grow by highlighting several resources made available for their economic recovery . The campaign will amplify the voice of SMBs and shed light on their stories and their challenges to help generate consumer demand for local SMBs across the region . Through # LoveLocal , Facebook will provide business owners access to the Middle East and North Africa SMB Training Hub – a platform with up to 40 online webinars available for free that businesses can use to master a range of digital tools covering digital marketing and e-commerce , and develop and grow their business presence online . Courses have been developed in partnership with popular e-commerce platforms and Facebook partners such as ecomz , Expand Cart and Zid .
Facebook ’ s # LoveLocal initiative aims to support regional SMBs
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