The UK has been experiencing steady growth in various sectors for the past couple of years. Since the advent of the coronavirus, certain areas shut down whereas the others gained traction. That too, against all odds.
This provided considerable insight into how the government could launch incentive programs that would propel various sectors to full fruition. In 2021, it seems that officials took note of the growing emphasis placed on the cyber sector and launched a cyber accelerator program to help pick things up.
The news was officially announced to the public by The Department for Digital, Culture, Media, and Sport. The initiative, dubbed as the ‘Cyber Runway’ would go on to assist small business owners across the country through expert-guided mentorship programs, incentives, networking opportunities, and much more.
The department claimed that it is targeting a whopping 160 ventures for the following half of the year. Ultimately, the goal is to support these businesses to overcome typical challenges and hone their capabilities through various ways that would help them bring more revenue and tax money to the country.
While the performance of this incentive is yet to be correlated to projected success, the cybersecurity industry exhibits an exemplary growth background. According to statistics, the total revenue grew by 7% just in 2020. This surge can be rightfully owed to the debilitating pandemic, recurrent lockdowns, and constant sanctions.
As remote work assumed a position of normalcy, the internet saw a massive influx of people resorting to it. From the educational sector to engineering, the UK shut down as many on-site places as it could to flatten the curve.
This prompted an evident increase in cyber companies eager to jump on the growth bandwagon. The determination is precisely why Cyber Runway is expected to yield exceptional results this time.
While this specific program may sound new, it’s not the first of its kind. The UK has introduced various similar programs in the past and they have successfully reported favorable results. In fact, concerned authorities report that such incentives lead to considerable expansion of the bottom line for the companies involved.
That said, the UK’s current landscape for the cyber sector is not ideal. There are significant impediments, one of which is investor preference. Even though cybersecurity is undeniably an even bigger part of the future, traditional investors find themselves hesitant to put their money in these ventures.
Why? Because the average layman doesn’t know much about cybersecurity, to begin with. While the cyber accelerator program is far different than your run-of-the-mill subsidy, it offers other types of indispensable support that are equal to, if not more beneficial than, mere investor interest.
However, this isn’t the only reason Cyber Runway is as interesting as it is made out to be.
The program has been carefully targeted to focus on much bigger issues of racial economics as well. Representatives of the Department for Digital, Culture, Media and Sport have said that they’ll make sure people of color and all genders are catered to.
Such that, the government is actively working toward reaching an equitable number of unrepresented business owners to offer a platform to minorities.
To top it off, this program is expected to give a much-needed boost to the country’s economy. As the UK continues to shift a large portion of its businesses to the internet, the need for online security is ever-expanding.
Companies are increasingly investing in cybersecurity plans to keep intruders at bay. Needless to say, when more companies are offering similar services, cybercrime attempts will be much less likely to succeed.
Don’t qualify for Cyber Runway? Scale-up your business in other ways!
While the cyber accelerator program is definitely a step in the right direction, it won’t be catering to the mass variety of businesses in the UK.
Yet, the country is home to thousands of successful ventures, many of which have sprung up recently due to the new normal created by the pandemic.
It cannot be denied that a government incentive is probably the best thing to happen to any business. But is it the only hope out there? The short answer is no.
As the aspiring owner of a new start-up or small business, you can overcome barriers to entry by being smart about strategy. If funding is the problem, then there are plenty of alternate ways to make the most of what you have. After all, some of the biggest brands today started from a basement.
But you don’t have to settle for a basement. At least, not when you’re in the UK.
Every business has some inventory. Whether it’s in the form of technology or tangible sellable products, you’ll need physical space. With STORED, the latter is never a problem.
As the leading storage company in the country, STORED caters to thousands of local customers including start-ups like yours. You can rent its storage facility for business and wipe all your worries associated with a lack of space right away.
Rest assured, it’s even simpler than it sounds. You want to keep your inventory safe and secure. Hence, there’s no better place for it than at a STORED outlet.
Their storage facility for business is incredibly convenient with a treasure trove of amazing service features you certainly don’t want to miss out on. Not only do you get hassle-free pick-ups at the specified location but the booking process is also highly streamlined.
All you have to do is schedule a free collection online and STORED will send their two-men team right to your doorstep. Whereby, your inventory will be professionally packed and transported to the unit.
Moreover, when you rent a storage facility for business at STORED, expect to be blown away by their rock-solid security measures. Your unit will be safeguarded with alarms, CCTV cameras, a professional team of guards, and dual locks on the doors.
Customers will also be able to keep track of what’s inside their unit in real-time through the convenience of their phones. This is complemented with easy returns, affordable pricing, and customer support by online consultants who never leave you hanging.