Minister for Defence Industry, Melissa Price. Source: The Canberra Times
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • The Federal Government has launched a new initiative to help small businesses operating in the defence sector secure more military work
  • The Working Securely with Defence guide will help small businesses improve their security practices so they are eligible for defence work
  • As it stands, around 40 per cent of businesses that apply for defence contracts miss out because they don’t have sufficient cybersecurity measures to meet the Defence Force’s tough standards
  • The new program is part of the government’s $270 billion investment into upscaling Australia’s defence capabilities, announced in July 2020
  • Defence Industry Minister Melissa Price says the guide was developed by drawing on expertise from Government, Defence, and defence industry associations
  • The government’s $270 billion military investment is designed to help Australia compete with growing military power across the Indo-Pacific region.

The Federal Government has launched a new initiative to help small businesses operating in the defence sector secure more military work.

Defence Industry Minister Melissa Price today revealed the Working Securely with Defence guide, which is designed to help small businesses improve their security practices so they are eligible for defence work.

The program is part of the government’s $270 billion investment into upscaling Australia’s defence capabilities, announced in July 2020.

“The development of this guide has been a genuine team effort, drawing on deep expertise and connections across Government, Defence, Australian defence industry and industry associations,” Minister Price said.

“It has been developed by industry for industry and will help businesses understand what they need to do to improve their security practices,” she said.

According to the Department of Defence, around 40 per cent of businesses that apply for defence contracts miss out because they don’t have sufficient cybersecurity measures to meet the Defence Force’s tough standards.

It seems it’s not an issue of incapability, however, but more a lack of understanding of exactly what’s required to work with Australia’s Defence Force.

The new guide — which has been put together by the Defence Industry, The Australian Industry Group, the Australian Signals Directorate, the Australian Security Intelligence Organisation and the Australian Cyber Security Centre — is designed to remedy this issue.

“The guide also provides direction and support to current and prospective defence industry and supply chain providers on how to understand their security obligations and improve their security practices when delivering Defence capability,” Minister Price said.

The Defence department has already helped over 600 businesses improve their security through the Defence Industry Security Program over the past year. There are currently over 230 other companies in the program.

Australian Industry Group National President Chris Jenkins said the guide brings together a “wealth of relevant information” from several sectors to help build the security culture and compliance of small defence contractors.

“This is so important to the strategic priorities of Australia, ensuring that both industry and Defence are working on the same page,” Chris said.

The Federal Government’s $270 billion military investment is designed to help Australia compete with increasing military power across the Indo-Pacific region.

More From The Market Online
AI concept

The great AI scare sell-off is still permeating Wall Street; a speculative blog from the not-so-distant future stands as the latest culprit

The ongoing tech sell-off in the United States, ironically driven by the larger AI thematic itself, continues to define
US and Aus flag

The XJO benefitted from geopolitical calm last week. New tariff fears perhaps feel more familiar

Last week, I wrote that the ASX200 was having a good week, where Australian investors were reacting to Australian earnings reports and how

Okay, so just where is gold heading? Experts say its nowhere near finishline yet

Leading industry, government and investment groups are still confident that the gold’s bull run is nowhere…
Koala share trading AI

The ASX 200 is up over 4% YTD. What EOY targets are floating around?

It’s been a pretty good year for the ASX200 so far, helped greatly by the ‘commodity supercycle’ narrative – which isn’t really a