Close Menu
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing & Mental Health
  • Marketing
  • HR & Recruitment
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
X (Twitter) LinkedIn YouTube
Trending
  • How to become a High Growth SME
  • Hospitality industry risks collapse
  • Whistleblowing and the Cost of Silence: Why SMEs Must Have Policies in Place
  • Rewiring the UK’s investment landscape with AI
  • What Swedish SME Managers Can Teach UK Businesses About Remote Work
  • The 5 biggest VC negotiation mistakes and how to avoid them
  • Entrepreneurs Circle Makes £5M move with 15,000 sq ft HQ acquisition
  • An Interview with Noreena Hertz
X (Twitter) LinkedIn YouTube
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • News
  • Home
  • In Profile
  • Finance
  • Legal
  • Technology
  • Events
  • Features
  • Wellbeing
  • Marketing
  • HR & Recruitment
SME Today
  • About
  • Advertise
  • Events Calendar
  • Business Wall
  • Subscribe
  • Contact
  • 0843 289 4634
  • Twitter
  • LinkedIn
  • YouTube
  • RSS
You are at:Home»News»Record levels of investment for UK’s £10.1 billion cyber security sector
cyber security

Record levels of investment for UK’s £10.1 billion cyber security sector

0
Posted By sme-admin on February 24, 2022 News, Technology

Britain’s tech sector continues to break records as new government data shows more than 1,800 cyber security firms generated a total of £10.1 billion in revenue in the most recent financial year, a 14 per cent increase from the previous financial year.

The DCMS Annual Cyber Sector Report, which tracks the growth and performance of the UK’s cyber security industry, reveals the sector contributed around £5.3 billion to the UK economy in 2021, rising by a third on the previous year from £4 billion – the largest increase since the report began in 2018.

Employment across the industry rose by 13 per cent, with more than 6,000 new jobs created, opening up new opportunities for people up and down the UK to join the sector and share its wealth. This brings the total number of people working in cyber in the UK to 52,700.

There were 1,838 active cyber security firms in the UK in 2021. More than half are based outside of London and the South East, with cyber security showing growth in the North East and East Midlands. The report highlights this move could be a result of remote working increasing regional opportunities.

UK-registered cyber security firms attracted record levels of external investment, with more than £1 billion secured across 84 deals by companies including Bristol-based Immersive Labs, which raised £53.5 million, and London-headquartered Tessian which secured more than £52 million in funding.

Digital Secretary Nadine Dorries said: “Cyber security firms are major contributors to the UK’s incredible tech success story. Hundreds of British firms from Edinburgh to Bristol are developing and selling cutting-edge cyber tools around the world that make it safer for people to live and work online. We are investing in skills training and business initiatives to help the UK go from strength to strength as a global cyber power and open up the sector to people from all walks of life.”

Over the last decade, the UK has established itself as a leader in areas including network security, threat monitoring and professional services which has contributed to the sector’s double digit growth last year.

Almost 300 UK-headquartered cyber security firms have offices in international markets, with 56 per cent offering their products and services in the United States and 46 per cent exporting to the European Union.

The UK attracted a number of foreign companies, with US-headquartered companies representing one in ten UK-based cyber companies, highlighting the importance of US-UK collaboration in this area to support the UK’s economic growth.

The findings come as Digital Minister Julia Lopez addresses the CyberASAP demo day today. The event gives UK academics the opportunity to showcase innovative new cyber security products to potential buyers.

Vicky Brock CEO and co-founder of Vistalworks said: “Vistalworks was originally founded in response to a Scottish government innovation challenge to find innovative technology solutions to online illicit trade. As we’ve grown, working closely with our government agency and cyber security stakeholders has remained incredibly important.”

Lorna Armitage, co-founder, CAPSLOCK said: “The support of Plexal and government-funded programmes like Cyber Runway has enabled CAPSLOCK to accelerate our growth from a young startup in 2020 to the ‘most innovative cyber security SME of 2021’, as named by DCMS.”

The government’s National Cyber Strategy is supporting UK firms to grow and scale up through a number of schemes including the National Cyber Security Centre Startups and CyberFirst bursary schemes, the London Office for Rapid Cyber security Advancement, and the Cyber Runway programme which helps entrepreneurs and businesses access a range of services to turn their ideas into commercial successes.

The Department for Digital, Culture, Media and Sport has launched a number of skills initiatives including the Cyber Explorers youth programme and skills bootcamps. It is boosting careers in the cyber workforce by supporting new apprenticeship standards and helping to standardise the professional cyber security landscape with the new UK Cyber Security Council.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Whistleblowing and the Cost of Silence: Why SMEs Must Have Policies in Place

Rewiring the UK’s investment landscape with AI

Entrepreneurs Circle Makes £5M move with 15,000 sq ft HQ acquisition

Comments are closed.

Follow SME Today on Linkedin and share all the topics you find interesting
Get £100 of free trades - ii trading account

The Newsletter

Join our mailing list for the best SME stories, handpicked and delivered direct to your inbox every two weeks!

Sign Up
Events Calendar
    • Marketing
    June 5, 2025

    Why marketing budgets are wasted without sales alignment

    June 4, 2025

    Industry Shift at Royal Ascot 2025 Turns Hospitality into Serious Networking Ground

    • Finance
    June 13, 2025

    Rewiring the UK’s investment landscape with AI

    June 12, 2025

    The 5 biggest VC negotiation mistakes and how to avoid them

    • Health & Safety
    January 29, 2025

    UK takeaways guilty of shocking hygiene failures:

    December 18, 2024

    Comment on Covid Corruption Commissioner Investigation

    • Events
    May 27, 2025

    Jose Ucar Confirmed for Leadership Live 2025 Speaker Line-Up

    November 19, 2024

    Seventeenth Global Entrepreneurship Week (GEW)

    • Community
    June 2, 2025

    National Charity Accelerates Children’s Reading Through New Corporate Partnership

    May 14, 2025

    Social care experts launch an online marketplace to disrupt a sector in crisis.

    • Food & Drink
    June 16, 2025

    Hospitality industry risks collapse

    June 4, 2025

    Creative Nature Launches Its First-Ever Kids’ Snack Bar Range in Tesco Nationwide

    • Books
    April 24, 2025

    Values-Driven Professionalism: A Path to Client Loyalty

    December 2, 2024

    Banish the banshee boss: how to lead without fear – addressing the issue of fear-based management and how NOT to be this manager

    About

    SME Today is published by the same team who deliver The Great British Expos’. We have been organising various corporate events for the last 10 years, with a strong track record of producing well managed and attended business events across the UK.

    Join Our Mailing List

    Receive the latest news and updates from SMEToday.
    Read our Latest Newsletter:


    Sign Up
    X (Twitter) YouTube LinkedIn
    Most Recent Posts
    June 16, 2025

    How to become a High Growth SME

    June 16, 2025

    Hospitality industry risks collapse

    June 13, 2025

    Whistleblowing and the Cost of Silence: Why SMEs Must Have Policies in Place

    June 13, 2025

    Rewiring the UK’s investment landscape with AI

    June 12, 2025

    What Swedish SME Managers Can Teach UK Businesses About Remote Work

    Categories
    • Books
    • Community & Charity
    • Education and Training
    • Environment
    • Events
    • Features
    • Finance
    • Food and Drink
    • Health & Safety
    • HR & Recruitment
    • In Profile
    • Legal
    • Marketing
    • News
    • Property & Development
    • Sponsored Content
    • Technology
    • Transport & Tourism
    • Wellbeing & Mental Health

    Copyright © 2020 SME Today.

    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Privacy
    • Contact
    Copyright © 2025 SME Today.
    • ABOUT SME TODAY: THE GO TO RESOURCE FOR UK BUSINESSES
    • Privacy
    • Contact

    Type above and press Enter to search. Press Esc to cancel.