Cyber Risk – How to prepare
According to the U.S. Small Business Administration (SBA), approximately 88% of small business owners in the United States feel their businesses are vulnerable to cyber attacks. [Source: U.S. Small Business Administration, “Cybersecurity Statistics,”]
As manufacturers integrate technology into every aspect of their business operations, Massachusetts manufacturers find themselves at the crossroads of innovation and vulnerability. As they continue to embrace digital transformation, the importance of cyber security measures becomes more critical. The stakes are high, with cyber threats posing significant risks to not only sensitive data but also the integrity of production processes and the overall competitiveness of manufacturers.
As we have all seen in the media and experienced various supply chain disruptions, China’s role in the global manufacturing ecosystem has been substantial, with its vast industrial capacity and competitive pricing reshaping supply chains worldwide. For Massachusetts manufacturers, the impact of China extends beyond just economic competition; it also presents challenges in terms of cyber security. Manufacturers in the Commonwealth must remain vigilant and implement robust cyber security measures to protect their valuable intellectual property from unauthorized access.
Small and medium-sized manufacturers in Massachusetts, many of which lack the resources and expertise to implement comprehensive cyber security measures are often targets by cyber criminals due to perceived vulnerabilities. Recognizing the importance of cyber resilience, state authorities and industry associations have been actively promoting awareness and providing support to manufacturers in enhancing their cyber security posture. Initiatives such as workshops, training programs, and grants aim to empower manufactures with the knowledge and tools necessary to mitigate cyber risks effectively.
Several Opportunities Available to Reduce Your Cyber Risk:
1. Center for Advanced Manufacturing at MassTECH Cyber grant – The Manufacturing Cybersecurity Program (MCP), an MMAP program, provides up to $30,000 in capital cost share for cybersecurity infrastructure improvement projects located within the Commonwealth’s borders, as part of the state’s on-going commitment to the manufacturing industry.
This program aims to help Massachusetts-based small- to medium-sized manufacturers enhance cybersecurity infrastructure to meet requirements from customers, strengthen the security of their networks, and allow them to enter additional markets. https://cam.masstech.org/manufacturing-cybersecurity
2. MassMEP Webinar related to Cyber Security – MMAP Cybersecurity Grant Webinar: MassMEP will host an hour-long information webinar with, Cybersecurity Experts, Syngaex, and special guests, Center for Advanced Manufacturing for Manufacturers to gain knowledge and insight on the new MMAP Cybersecurity Grant, the application process and why this is a one-in-a lifetime opportunity!
3. MassMEP Program – Learn to identify where the sensitive information is stored, how it is accessed, and how to develop an access protocols policy. Cybersecurity is crucial and can be applied to any business or industry in that may need compliance with these regulations;
This program includes:
· IT Risk Management
· Digital Risk Management
· Vendor Risk Management
· Compliance Management
· Audit Management
For immediate assistance, please reach out to Ellen Ellsworth, [email protected]