Administrator Isabel Casillas Guzman, head of the U.S. Small Business Administration (SBA) and a member of President Biden’s Cabinet, announced today that three new recipients will receive $3 million in funding through the SBA’s Cybersecurity for Small Business Pilot Program. The grantees for fiscal years 2024 through 2026 are Dakota State University, Eastern Washington University, and the University of Texas at San Antonio. These institutions will assist small businesses in enhancing their cybersecurity infrastructure and mitigating cyber threats.

“The Biden-Harris Administration understands that cybersecurity is essential to our small businesses’ success and the strength of our nation’s economy. With the growing threat of cyberattacks, businesses need greater resources, services, and tools to protect themselves and their customers,” said Administrator Guzman. “The Cybersecurity Pilot Program Grant is an important preventative measure that enables states to help their small businesses get cyber ready and fortify our nation’s digital economy.”

Aditi Dussault, Acting Associate Administrator for SBA’s Office of Entrepreneurial Development, added: “As the cyber landscape changes daily with attacks across the globe, small business owners require an awareness that cyber threats are real and they need to know what to do if a cyber-attack happens. Cyber threats can be devastating to small businesses because of the disruption to operations and cost of mitigation. Cybersecurity education and training contribute to small businesses’ ability to identify, mitigate, and avert attacks on their IT systems.”

This marks SBA’s third cohort of cybersecurity pilot grantees aimed at helping America’s small businesses avoid costly disruptions caused by cyberattacks. The program leverages state governments, territories, and higher learning institutions to provide timely solutions.

Cyberattacks pose a growing threat to small businesses and the U.S. economy. According to the FBI’s Internet Crime Report, cybercrimes against small businesses amounted to $2.4 billion in 2021. An SBA survey found that 88% of small business owners felt vulnerable to a cyberattack but often lacked resources or knowledge on how to address such threats.

The federal budget for the SBA’s Cybersecurity for Small Business Pilot Program for 2024-2026 is set at $3 million with a two-year performance period beginning September 2024.

Additionally, the SBA will hold its Third Annual Cybersecurity Summit on October 16 and 23 featuring experts from both public and private sectors who will offer practical information on protecting small business owners from cyberattacks.

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