New Bill Would Unlock Cybersecurity Funding for Small Businesses

Sen. Maggie Hassan’s proposed law would help set up funds to protect smaller organizations from malware.

New legislation would provide more federal funding to help small businesses safeguard against cyberattacks as ransomware hacks remain a critical threat for all organizations. 

Introduced on Thursday by Sen. Maggie Hassan, D-N.H., the Small Business Cybersecurity Act would give more federal funding to Small Business Development Centers nationwide.

This comes as experts warn that malicious cyber attackers are liable to target smaller entities as well as large infrastructure organizations. Funding included in the bill would help small businesses install stronger cybersecurity technology into their networks and provide employee and staff training. 

“As small businesses continue to modernize and do more work online, the risk of cyberattacks becomes more serious,” she said. “New Hampshire’s Small Business Development Center is providing crucial support to local businesses, reviewing their cybersecurity and helping them defend against hackers. I encourage my colleagues to pass this bill so that Small Business Development Centers in New Hampshire and across the country can keep working to protect small businesses from cyberattacks and help them thrive.”

Hassan’s office told Nextgov that Small Business Development Centers would apply for grants delegated by the bill. Individual offices would be required to submit a formal plan to the Small Business Administration that details the use of federal funds and how the funds will benefit an organization, especially in rural areas. 

Source: https://www.nextgov.com/cybersecurity/2022/08/new-bill-would-unlock-cybersecurity-funding-small-businesses/375433/