Intelligent SME.tech Issue 27 - Page 7

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Cloudflare ’ s funding programme reaches US $ 2 billion
Cloudflare , a security , performance and reliability company helping to build a better Internet , has announced the Workers Launchpad Funding Programme has grown to US $ 2 billion for potential investment in start-ups building on Cloudflare Workers , an increase of 14 partners and US $ 750 million in less than two months .
Cloudflare is also introducing the first cohort of start-ups participating in the programme , featuring 25 companies from 10 countries .
“ When we set out to debut the Workers Launchpad , we were aiming for US $ 250 million and surpassed that goal by a mile when we hit US $ 1.25 billion . To reach US $ 2 billion is a big deal and one that proves the industry trusts in the potential of our global network ,” said Matthew Prince , Co-founder and CEO , Cloudflare .
“ As we hit one million developers building and maintaining applications with Cloudflare , there ’ s no better time to continue investing in the developers using Cloudflare .”
IT admins report rising alarm around security budget cuts and recession
JumpCloud has announced the findings from its Q4 2022 SME IT Trends Report , Managing IT Amidst Rising Security Threats and Global Turbulence for Small to Medium-Sized Enterprises .
JumpCloud commissioned this biannual survey of SME IT admins to gain insights into the day-to-day experiences of IT professionals who power and secure operations without enterpriselevel budget and staff .
The latest survey results highlight that a plurality of IT pros worry that cybersecurity-specific funding might be at risk : 44 % agree their organisation will cut spending on cybersecurity in the next year compared with 41 % who disagree .
With the accelerated rate of attacks on SMEs and the sophisticated evolution of external threats , IT admins are concerned that such cuts will make organisations more vulnerable , with 75 % reporting cuts to their organisation ’ s security budget will increase organisational risk .
Small businesses are feeling less confident about the future
Recent research commissioned by UMi has revealed that more than two-thirds of UK ’ s SMEs are feeling less confident about the future of their business than they did 12 months ago , during the pandemic .
The survey of over 1,000 business participants also found that 40 % of SME business owners are having to explore increasing costs to the consumer to combat inflation , which is sweeping the nation and a further 36 % are still looking to reduce their energy consumption in a bid to mitigate costly bills .
Despite short-term relief on energy bills , wider business costs continue to soar , with a quarter of small businesses surveyed sourcing alternative suppliers and a fifth planning to scale back plans for growth .
The news comes as UMi launches its # CostofTradingCrisis campaign to help SMEs navigate the on-going uncertainty through a programme of webinars , partnership collaborations , expert advice and resources .
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