Microsoft, National Australia Bank (NAB), and Communications and Information Technology Training (CITT), a not-for-profit industry-based organisation, have jointly launched a program that will help improve the resilience of Victoria’s small-business sector while providing cybersecurity students with practical industry experience.
The Student and Small Business Cyber Risk Project, supported by the Victorian Government, partners Victorian TAFE students who are enrolled in a cybersecurity qualification with an industry mentor and small business in Victoria to conduct cybersecurity risk assessments wherein the small business will receive a report with steps they could take to improve cybersecurity in their business.
“A lot of smaller companies struggle with a lack of skills or understanding of where to start when it comes to cybersecurity,” said Mark Anderson, National Security Officer at Microsoft Australia and New Zealand. “In many cases, taking a few simple steps can be enough to protect against 99 per cent of cyber threats. It’s been great to be involved in this unique and highly scalable program, which is contributing to strengthening our nation’s cybersecurity defences.”
The Australian Signals Directorate’s recent Annual Cyber Threat Report noted that the average cost per cybercrime reported for a small business has risen by 15 per cent year on year, to $46,000 in 2023. Further, research from NAB shows that only 15 per cent of SMEs in Australia conduct extensive training around scams and other cyber risks, while only four in 10 felt that they were vigilant around their cybersecurity.
“As Australia’s largest business bank, we feel a deep responsibility to support the small-business sector,” Sandro Bucchianeri, Chief Security Officer at NAB, said. “They are a huge driver of economic growth, employing two in every three Australian workers. Yet, they remain one of the most vulnerable communities to cyber attack, as they continue to face increasing costs of goods, ongoing labour shortages and rising rates of cybercrime. Initiatives like these will help the small business sector respond if they are caught up in a hack.”
The Victorian Government has invested approximately $400,000 in the program, with in-kind contributions from other stakeholders taking the program’s value to nearly $1 million.
“The Allan Labor Government is proud to invest in exciting projects that enhance Victoria’s high reputation as a leading digital economy,” Minister for Skills and TAFE, Gayle Tierney, said. “The Student and Small Business Cyber Risk Project is a great example of government and industry working together to ensure Victoria has the skilled workers needed for in-demand industries like cybersecurity.”
Dominic Schipano, National Executive Officer at CITT, pointed out that the scheme is industry-driven, industry-based and built in conjunction with organisations who know cybersecurity and Australia’s small business sector.
“The program empowers TAFE students in Victoria on their journey to build a rewarding career in cybersecurity with not only a qualification but also valuable on-the-job experience,” Schipano said. “At the same time, it gives Victorian small businesses access to skilled and employable talent who will help them better understand cybersecurity within their business.”
CITT is managing the program and is closely supported by Microsoft and NAB, alongside the Victorian TAFE Network, The Victorian Small Business Commission and Victorian Skills Authority, while Microsoft developed the program’s learning resources, and alongside NAB, has provided mentors and facilitators who supervise the students during their placement with the participating small businesses.
“Cybersecurity is a team sport and we all have a role to play,” Anderson stressed. “This program is a great example of the impact that public-private partnerships can have in fortifying our nation’s cyber defences, and paving the way for a safer digital landscape.”
