The second event in our techBREK network & learn series, in partnership with Mastercard, took place Tuesday 1st October at the Mastercard Dublin Tech Hub. The session, titled “Cyber Resilience for SMEs – Supporting the Skills Demands of Small Business” gathered technology and innovation professionals to discuss critical cybersecurity challenges faced by small businesses in Ireland.
The session emphasised that cybercrime is the leading financial threat in Ireland, with small and medium enterprises (SMEs) being especially vulnerable. Over 43% of cyber-attacks target SMEs, as these businesses are perceived as easier targets due to their limited resources and cybersecurity infrastructure.
Key Speakers
Olivia Leonard, EVP at Mastercard, served as the moderator, guiding the discussion and sharing her insights on the broader cybersecurity landscape.
Jacky Fox, Managing Director and Security Lead EMEA at Accenture, provided her expertise on the cybersecurity challenges for SMEs and how Ireland is working to support businesses through technology innovation. She gave practical advise on supply chain risks, along with her view on how we can do more and what SMEs should do.
Ria Shetty, Mastercard’s European lead for cyber resilience products, contributed by discussing the pressing need for cybersecurity skills in small businesses, especially as digitalisation accelerates post-pandemic and signposted a number of key free supports. Ria also outlined some of the things that Mastercard is seeing and doing in this space at a European level.
Insights discussed
The session provided practical insights into how SMEs can enhance their cybersecurity posture, such as adopting affordable protection tools and improving staff awareness through training. In addition to practical tips, the broader cybersecurity challenges facing the Irish small business community were explored, with the event stressing the need for greater support in terms of skills development and awareness.
Some of the key insights discussed included
- The shift to online trading during the pandemic has increased the exposure of small businesses to cyber threats, making it crucial for them to adopt basic cybersecurity measures.
- According to a 2023 survey by iReach Insights, although 75% of Irish SMEs agree that a secure online presence is vital, only 20% understand the necessary steps for cyber resilience.
- Significant barriers preventing SMEs from implementing cybersecurity plans include lack of funding (47%), skills shortages (50%), and low awareness of potential risks (36%).
This series will continue monthly through November & December, providing ongoing opportunities for learning and collaboration among tech and business leaders in Ireland.
The Technology Ireland ICT Skillnet techBREK events are free to attend, but registration is required. Click here to learn more and register your place.