Cyber Security, TV Exposure and R&D Grants: The Facts!

by Jul 15, 2020Business for Good, COVID-19, Financial Management, Marketing, Risk Management, Scott Amberley, Tim Allen

An interesting set of conversations on important issues and opportunities small business owners are dealing with.  We received some great information from Tim Allan from Insurance Advisernet about how and what to do to protect yourself from the possibility of a disabling cyber crime event!   Jules Brooke from Handle Your Own PR gave some amazing tips on getting your message out to the world for little to no expenditure and Scott Amberley from Granted R&D shares how your business may be able to benefit from the Research and Development Tax Incentive by the Australian Government! 

If you haven’t got time to watch the 30 minute episode on, then here is my summary!

Tim Allan –  Insurance Advisernet

Cyber Crime and Cyber Insurance

What are the different types of Cyber Crime that can happen?
  • Cyber stalking
  • Industrial espionage
  • Information theft
  • Fraud
  • Extorsion
  • Web attacks
  • Fisching scams
  • Cyber terrorism
How do they do it?
Use Malware and virus’ to get into the systems – hacks computers and network
Also fraudulent online scams
As Australian small business owners, we are pretty slack, inadequately protected – they look for the vulnerable businesses
Cyber Crime is very broad and is on the increase
30% of crime is via hacking
20% of crime is through human error
Need more education for staff
Ensure decent security
What will the insurance company ask you for?
There is significant implications for insurance:
They will ask what sort of anti virus you have and  are your processes up to date
Also must remember to renew the annual subscription
What can Cyber Insurance cover for small business
  • 1st party losses – covers the business – cost incurred to respond to incidents (IT forensic / credit monitoring cost / PR expenses / Ransom payments / business interruption loss – from a breach Notification costs and regulatory fines and penalties – set for all business by the government
  • 3rd party costs – liability to third parties – customers / failing to keep their data secure / compensation – investigation and defence cost  / fines and penalties for breaching the privacy act
  • Most Importantly – Usually an extension: Social Engineering – Where hackers will come into your system -might sleep there for 12 months – learn how you draft emails – then when time is right – will send an email for example; from managing direct to the chief accountant “Don’t forget to pay xxxxx with bank account details xxxx”  That’s where all the claims are coming from at the moment
Are all Cyber insurance policies the same?
No not at all:
Start from $300 for minimal cover – Average business – probably pay $750 – what ever you want to be covered for
Chubb is one of the better companies – Cover most larger corporate companies
Been operating in excess of 10 years in US
How do you decide what level of insurance you need?
Like most insurance, it’s about the level of comfort
Businesses out there who have $ 2million worth of coverage – assessed case by case – you’ve got to be comfortable at the end of the day.
Most brokers will do that – explain the policy, exclusions and limits
The better your defence, the more it costs for the attack to occur and therefore your business becomes less of a target.  Spend the money on the defence.  Insurance is there to clean up the cost that you’e incurred after the attack
Look at it like the fire, burglary and motor insurance – every small business needs to be covered.
It’s a separate policy at this stage.

The better your defence, the more it costs for the attack to occur and therefore your business becomes less of a target.

Tim Allen

Insurance Broker, Insurance Advisernet

Jules Brooke – Handle Your Own PR

Why would you want to get a TV Interview?
  • Enormous credibility when on tv and what you can do with it afterwards.
  • TV Clip – explain your business – the algorithms go crazy on FB / Linked In – so much further than just a normal post
  • Applies to all TV – but needs to look like proper TV – with a bit of a name
Are there particular types of business that benefit more or less?

Products business slightly harder – need to demonstrate it – or send it through gift guides

Service Based Business – must have a point of difference  = a news worthy angle – then you can go to all different types of media


What’s the process to go through to get an Interview:

Choose the TV Program (What is the message you’re trying to get out there and what is the most appropriate show/segment.  Where are your audience likely to see it.  Or is it a Hero/Villain story
For Example: Morning day time (Women)  Breakfast before 7.30pm for business owners.  Ticker TV looks for 20 people per day to interview.  Morning Breakfast also looking for a lot of people to interview
Two ways to get your message out there – Handle your own PR has a platform or Google is your friend – google journalists that are talking on the topic/ google the show – call the station,  say “can I speak to the producer for that show please?”

Why Now is the perfect time
A lot of PR companies have closed their doors at the moment and a lot of bigger companies don’t want to go out  for fear of saying the wrong thing – Media has the same or greater need for stories because more people are watching and less people supplying them with stories
What do you need to have ready?
Need to have angle ready –
  • Come up with story
  • 3 bullet points to get the point across
  • Ask them if it’s a good time to talk
  • Pitch it:  “I have this great idea for a segment.”  If its an interview – try and think of ways you can interact with presenters – is there something you can show them / set them a challenge / bring a guest with you – expert or model for clothing – opens it up.
What are the opportunities right now?

Go to Ticker TV – audience has grown from 300k – 4.5 million every month- over the last 4 months.
New segment on the hour every hour – 2 hours in the morning and an hour at lunch time
You’ve got a 90% chance of being picked up!

Send your pitch:
Once completed you can buy the clip for $300 and then you can chop it up

They are a start up – only have 4 staff at the moment (that’s how they make their money)


Reiterate that it’s really good timing – TV is very credible

PR is weird – if they read about you and then see you somewhere and then someone is interviewing you on TV they think you are the best at what you do.  It really does give you that immediate trust and third party endorsement. Makes it work like word of mouth.

If you want to learn how to do it, Jules can teach you!

A point of different – if you don’t have one then you’re missing something significant!

Jules Brooke

PR Consultant, Handle Your Own PR

Scott Amberley – Granted R&D

 What are R&D Grants?

R&D are not a grant, they are a tax offset  available from Aus Industry and Federal government in a means to encourage business’ to take more risk – it’s  available for business creating new knowledge – spending money to overcome a problem or fix an issue within the business that creates innovation.


What is the eligibility criteria?
  1. Must be a Public Company (PTY LTD) Registered within Australia.
  2. Have to create new knowledge – Innovation – something new (Many doing it just to overcome a problem).
  3. Must have spent a minimum of $20,000 (Can be made up from anything rent / time / wages.


Do you have to succeed – is there a time frame?

 R&D Tax Offset you can keep doing it for ever but a single project has a maximum time limit of 5 years.

Success: Problems come with experimentation – you didn’t know the end from the beginning.
If you knew exactly what to do and how to it fix it and didn’t have to spend any time in experimentation then that’s not R&D.
If you had a complete fail – tried to do it but couldn’t get it to work – that is still a success within R&D.
You have to show that there was a fail – you didn’t know the end when you started.
Identify the problem:  Try different things – experiment (that’s when you are doing R&D) – developing new knowledge.


What are the things that are deemed ’new knowledge’?

Easy to identify in Manufacturing for example:
Building a whole new machine to do a new product line that we really have to try some experimentation on.
Food / Beverage – want to create something new – never been done in Australia – we have to work out ‘How’ to do it.
New Knowledge: creating of a new piece of software – is it a new language / algorithms etc.


What kind of records do you need to keep?

If you are claiming on time, materials or consultants – you have to keep records – for a 7 year time frame.
If you have the records then you can back up the claim.
Must be able to substantiate the records the ATO may well ask for.


Does the business owner need to be paying themselves wages, given they are doing the research?

Yes, your wages, salary, superannuation –
If you’re not paying yourself then you can’t claim it.


How far back can you go…. if you’re discovering this now?

You can only go back to the previous financial year – you must get good accountant and tax advise.


Can you do all this yourself?

Yes you can. You would need an accountant anyway – It would take you 40 hours spending time acquiring the knowledge.  Much easier to pay a consultant.

R&D Grants are a tax offset when spending money to overcome a problem or fix an issue with in the business that creates innovation.

Scott Amberley

R&D Grant Specialist, Granted R&D

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This week’s resources are brilliant!!

All the ins and outs in getting ahead of Cyber Crime

PR Tips for How To Get On TV

A Guide to Australian Government Research and Development Tax Incentive

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