Edinburgh’s businesses are a vibrant blend of tradition and innovation. From the historic streets of the Old Town to the bustling business parks of the city’s outskirts, businesses in Edinburgh are thriving and embracing digital transformation. However, this digital progress brings risk: the ever-present and growing threat of cyberattacks.
Why Cyber Resilience Matters
Edinburgh’s diverse economy, from tech startups to established financial services, is increasingly interconnected and reliant on digital platforms. Adopting the cloud, Internet of Things (IoT) devices, and remote working brings significant benefits in efficiency, innovation, and competitiveness. However, it also leads to a broader attack surface, exposing businesses to new and evolving cyber threats. Add in the growing danger of AI-enhanced threats, and it’s easier than ever for hackers to create sophisticated attacks, trick businesses, and turn a profit.
Every day, more than 500,000 new cyber threats are discovered. 81% of UK businesses that fall prey to cyber-attacks are small to medium-sized. Moreover, 97% of these attacks could have been prevented if companies had modern and comprehensive cyber resilience.
Cyber resilience matters because it encompasses the ability to defend against cyberattacks, continue operating during an attack, and recover quickly afterwards. Building a robust framework ensures your business will continue to thrive, innovate, and compete internationally, regardless of the cyber threat.
A Strategic Approach to Cyber Resilience
Building a cyber-resilient business might seem complicated, but it doesn’t have to be. Here are a few factors to consider when refreshing your cyber security strategy:
Risk Assessment
A strategic approach begins with risk assessment and management. It is crucial to identify and understand the specific cybersecurity risks you face. This involves identifying critical assets, assessing vulnerabilities, and prioritising risks based on their potential impact. By taking this step, you can better prepare for and mitigate potential cyber threats.
Staff Training and Awareness
People are often the weakest link in cybersecurity. Regular training on recognising phishing attempts, safe internet practices, and the importance of cybersecurity can significantly reduce the risk of insider threats. By making employees aware of the risks and how to avoid them, you can create a culture of cyber resilience within your organisation.
Implement Strong Cyber Practices
Basic cyber hygiene practices are essential for preventing attacks. These practices include regular software updates, strong passwords, multi-factor authentication, and securing access to your building. By implementing strong cyber practices, you reduce the likelihood of an attack and limit its potential impact.
Incident Response
No matter how strong your defences are, it is still possible for a cyber-attack to occur. A well-prepared incident response plan ensures that your company can quickly respond to and recover from cyber incidents. Have a clear strategy, set designated roles and responsibilities, and implement regular testing to ensure everyone is prepared.
Invest in Advanced Security Technologies
Advanced cybersecurity technologies such as encryption and network monitoring tools are becoming essential for detecting and mitigating threats. These technologies can enhance cyber resilience and protect your business against more sophisticated attacks.
Collaboration and Information Sharing
Collaborating with industry peers, government agencies, and cybersecurity experts can provide valuable insights into emerging threats and best practices. By sharing information and learning from others, you can stay ahead of the threats and better protect your business.
Remember that building cyber resilience is an investment that secures the promise of digital transformation while protecting your business’s innovation and growth potential.
Rebooting Your Cyber Resilience Strategy
Edinburgh Chamber members are invited to SoConnect’s Cyber Scotland Week event. CEO Gordon Sayers and CTO Euan Stewart will explore how the cyber threat landscape has transformed in recent years and what that means for your current resilience strategies.
Whether you want to update your security strategy or build one from scratch, this session will provide valuable insights and practical steps to enhance your cyber resilience.
Title: Rebooting Your Cyber Resilience Strategy
When: 29th February 2024, 11 am to 12 pm
Where: Microsoft Teams
Speakers: Gordon Sayers, Chief Executive Officer, SoConnect. Euan Stewart, Chief Technology Officer, SoConnect.
Registration Link: https://events.teams.microsoft.com/event/db663a5f-c274-4243-bc99-4340c6569b50@5e3862dd-108d-40b6-820f-f210102d38a1
Green Guarantee Company aims to mobilise $1 billion in climate financing to tackle global climate crisis
Leading global law firm Dentons is advising the United Kingdom’s Foreign Commonwealth & Development Office (FCDO) on its anchor investment in The Green Guarantee Company (GGC), the world’s first climate-focused guarantee company. GCC is set to unlock billions in climate finance for developing countries by providing guarantees for institutional investors buying green bonds issued and listed on the London Stock Exchange (LSE) and green loans issued in the private credit market.
The FCDO is investing in GGC through its flagship MOBILIST programme, which supports investment solutions that help deliver the global goals for sustainable development and the climate transition. MOBILIST competitively sources and selects dedicated emerging and frontier market investment products.
GGC is also receiving capital from the Green Climate Fund, the Nigeria Sovereign Investment Authority, the United States Agency for International Development with Prosper Africa, and Norfund, and will leverage an initial $100 million from investors to provide up to $1 billion of guarantees. The company will prioritise green infrastructure, renewable resources, alternative energy, and clean transportation.
Owen McLennan, Dentons partner in the firm’s Asset Management and Investment Funds team, based in Edinburgh, who led the team advising the FCDO said, ” We are honoured to have been trusted by longstanding client FCDO as their legal advisors on this anchor investment in GGC, which will help the MOBILIST programme to continue its aim of boosting growth in developing countries, while helping to tackle the global climate crisis.”
Owen was assisted in advising the FCDO by Paul Flynn, a counsel in the Corporate practice in Edinburgh. Sam Smart, an associate specialising in Investment Funds and Asset Management, and associate Viktoria Tsvetanova from the firm’s Competition team, were also a key part of the Dentons’ team.
Shepherd and Wedderburn proudly announces its tenth consecutive year as Headline Sponsor for All-Energy, the largest annual renewable and low-carbon energy exhibition and conference in the United Kingdom.
Shepherd and Wedderburn also returns as sponsor of both the Offshore Wind and Sustainable Cities conference streams.
All-Energy 2024, taking place alongside Dcarbonise, on 15 and 16 May in Glasgow, promises to deliver unparalleled opportunities for networking, knowledge-sharing, and collaboration among industry pioneers, policymakers, and thought leaders.
Featuring a dynamic lineup of keynote speakers and panel discussions, the conference, which is free to attend, remains a cornerstone event in advancing the clean energy agenda and accelerating the transition towards a low-carbon economy.
Clare Foster, Partner and Head of Clean Energy explained: “Our Shepherd and Wedderburn clean energy team has worked tirelessly for decades to help drive the energy transition in the UK. We are therefore delighted and proud to reaffirm our longstanding partnership with All-Energy and continue as headline sponsor for the 10th consecutive year.”
“Over the years, we have seen remarkable growth and innovation in the clean energy and decarbonisation arenas. The All-Energy conference continues to challenge us, and all those working in this sector, to innovate, to try harder and do better. We are thrilled to continue our support to the UK’s largest low-carbon energy and decarbonisation event and look forward to celebrating our 10th anniversary at the conference in May!”
Jonathan Heastie, Portfolio Director, Energy & Marine at RX who own and organise the All-Energy and Dcarbonise events said: “We are delighted to celebrate 10 years of sponsorship by Shepherd and Wedderburn and look forward to working with them once again as Headline Sponsor particularly on plans for the offshore wind, and decarbonisation of cities/places conference streams where they ensure topicality and with stellar line-ups, attract large audiences.”
“The Shepherd and Wedderburn Clean Energy Team, headed by Clare Foster, brings its immense knowledge to the show in general and to the conference in particular. They are also enthusiastic and proactive exhibitors – we thoroughly enjoy working with them.”
With over 9,000 attendees in 2023, and even more expected in 2024, the event continues to drive meaningful change and foster a sustainable future for generations to come.
Shepherd and Wedderburn’s Clean Energy Team will be on hand to provide legal and commercial updates, meet clients and contacts and share their market-leading expertise throughout All-Energy.
Chemists at Heriot-Watt have trialled a new technique that takes a chemical fingerprint of gin in just seconds.
Dr Ruaraidh McIntosh, Dr Dave Ellis and PhD student Kacper Krakowiak from Heriot-Watt worked with Professor Dušan Uhrín from the University of Edinburgh on the project.
The team says their technique could help producers futureproof their gins and conduct quality control, while regulators could use it to detect fraudulent products.
Dr Ruaraidh McIntosh said: “Gin production has exploded in Scotland and the UK over the past 20 years, but compared to Scotch whisky it’s very loosely defined and regulated, and not well-researched.
“Producers need to know more so that they can ensure they have years of sustainable, flavoursome gin ahead of them.
“And consumers and importers need to know that gin is genuine and the quality they’re expecting.”
Alcohol, water, botanicals
Gin is quite loosely defined, but the EU states that it must contain a minimum of 37% alcohol and the spirit is traditionally associated with flavourings provided by juniper berries.
Dr Dave Ellis said: “We know from whisky research that chemical compounds have a huge impact on the flavour and sensory properties of a dram, even though they are in very low concentrations.
“Understanding which compounds are in a gin, and have an impact on flavour and mouth feel, could help distillers improve their gin, or guarantee uniformity of flavour.”
The Heriot-Watt researchers used nuclear magnetic resonance (NMR) spectroscopy to examine the gin. It’s a technique more commonly used in the structural determination of molecules.
Ellis said: “At the moment, most gin analysis is carried out using mass spectrometry. It’s effective and highly sensitive but does not provide a complete picture of the composition in a single experiment in the way that NMR can.
“NMR basically fingerprints the gin’s chemical compounds. It does this by detecting the signals given by the hydrogen atoms in each compound. These act as markers and enable identification.”
“In under five minutes, we end up with an overlay of all these fingerprints, providing a snapshot of the compounds present.”
Molecules affect gin’s flavour and scent
The team put 16 different gins to the test, some they bought from the supermarket and some samples were provided by colleagues at Heriot-Watt’s International Centre for Brewing and Distilling (ICBD).
Dr Dave Ellis said: “We determined which compounds were present in each gin, and in which quantities.
“NMR can distinguish between different structural forms of individual molecules, and there are many of these cases in gin.
“For example, the flavour compounds pinene and limonene have the same atomic makeup but have different structures and, critically, flavours.
“We tested some fruit gins and gin liqueurs. The NMR identified the different varieties of sugar present in the gin, which are introduced through flavour additives, and their quantity. This is important information for consumers.
“UK distillers rely on imported juniper berries for their gin, and climate change could affect their quality and availability. If their traditional supply dries up, will sourcing juniper berries from elsewhere change the flavour? That’s what we could determine with this technique.
“NMR has huge potential for the gin industry.”
“It’s like the wild west”
Dr Ellis points out the contrast between gin and whisky.
“The whisky market is very well-regulated, but there’s no equivalent for gin. The EU imposes some requirements, but essentially, you can make anything, call it a gin and nobody will give you any trouble. It’s a bit like the wild west.
“Colleagues at the Heriot-Watt International Centre for Brewing and Distilling have created a database of botanicals and this could be used as a basis of standardisation in the future, but we shouldn’t discourage innovation in gin production.
“We just need to try and find a way of reassuring consumers that the ‘gin’ that they are drinking really is gin.”
The researchers are expanding their studies to embrace many more types of so-called gin and other alcoholic beverages.
The findings are reported in the Journal of Brewing and Distilling.
Full-service legal firm Gilson Gray has strengthened its marketing and business development team with two new hires.
Kelly Jones and Rachael Etheridge have been appointed as marketing manager and business development manager, respectively.
Kelly joins the firm from communications agency The Lane, where she worked across a range of corporate sectors, including legal and professional services, as a senior account manager. In her new role, Kelly will help drive the firm’s marketing strategy to unlock new opportunities and maintain its position as a market leader.
Rachael brings a wealth of experience to the business, having spent over ten years in business development and marketing positions at various legal firms. In the newly created role, Rachael will focus on building Gilson Gray’s regional offering by overseeing the delivery of its strategic growth plans.
The announcement follows the promotion of Vanessa Kennedy to director of marketing and business development in September 2023.
Kelly said: “It’s an exciting time to be joining Gilson Gray. The firm already has an excellent reputation, and I am eager to build on this by continuing to raise awareness of the brand across the UK through a range of campaigns that will further elevate its position.”
Rachael said: “I’m looking forward to being part of the next chapter of Gilson Gray’s growth. As the Firm approaches its tenth anniversary, it is an ideal time to capitalise upon and develop further the strong identity and market position of the Group.”
Vanessa Kennedy, Director of Marketing and Business Development, added: “Kelly and Rachael are valuable additions to the team. We have ambitious growth plans, and their experience will enable us to seize new opportunities and propel the firm forward with fully aligned strategic marketing and business development goals. We have a very exciting year ahead.”
The Connecting Scotland Helpline provides digital support to anyone in Scotland. It is free to call and is open from Monday to Friday, 10am to 4pm.
Anyone can call this freephone number and receive support and advice on topics including:
- Using devices like smartphones, tablets, laptops or desktop computers
- Connecting to the internet
- Navigating the web and social media
- Completing everyday tasks online
- Connecting with the community, family and friends
- Managing finances, paying bills and saving money online
- Reducing costs (energy, data plans, shopping, etc.)
- Finding opportunities for education and employment
- Feeling less isolated and having someone to talk to
The helpline is run by charity People Know How, in partnership with the Scottish Government and the Scottish Council for Voluntary Organisations (SCVO). It forms part of the charity’s Reconnect service, which aims to improve digital inclusion across Scotland.
Part of the wider Connecting Scotland scheme set up during the pandemic, the helpline was set up to support those who received devices as part of that programme. It has since been expanded to help anyone in Scotland who needs digital support, regardless of whether they interacted with the original scheme.
“Thank goodness for Connecting Scotland…We felt we were living in the 19th century; now we’ve joined the 21st century, and we’re enjoying every moment of it!”
– Greta & Heidi, helpline callers
The charity has supported thousands of people through the helpline.
Sisters Greta and Heidi received iPads that made their life in a rural part of Scotland much easier, with continual support from the helpline that allowed them do things like order food and essentials to their home instead of making the 60-mile round trip to the nearest shop.
David was able to solve connectivity issues after recently moving to Scotland, allowing him to apply for local college courses and build his skills as he supports his family.
Mary still calls in regularly for advice after the team supported her to regain access to her iPad, which is vital in her life to access medicine and food and to communicate with friends and family.
Rachel eased her worries online and improved her knowledge of online safety, learning about spotting spam emails and identifying trustworthy websites.
The helpline is available to anyone who needs it, whether you’re an individual in need of advice, or a support worker or community organisation looking for a helpful resource to refer those you support to. Call the helpline today for free digital support and advice.
0800 0 590 690
Find out more at: https://peopleknowhow.org/reconnect/#connecting-scotland
Shevaun Haviland, Director General of the British Chambers of Commerce said:
“It is a very tough time for businesses at the moment and they urgently need stability and long-term certainty.
“We welcome today’s announcement from the Shadow Chancellor that she will publish a tax roadmap for business, if Labour wins power. It would help ensure simplicity, proportionality and certainty for future business planning. Any roadmap would also need to highlight how the tax burden for UK firms could be streamlined and be as fair as possible.
“The best way to grow the UK economy is by giving companies the space and financial capacity to grow. Firms also need the capacity to reinvest in their businesses, workforce, local communities and the wider economy.
“Businesses will also welcome a cap of 25% corporation tax over the life of the next parliament. This commitment will give both UK firms and global companies looking to invest here – the confidence to help the economy get back to sustainable growth.
“The Government was absolutely right to introduce full expensing and it is very reassuring to see labour commit to keeping it, alongside the annual investment allowance. We continue to call for full expensing to be extended to cover leased assets.”
Reacting to the latest Bank of England interest rate decision, David Bharier, Head of Research at the British Chambers of Commerce, said:
“Today’s decision to hold the interest rate at 5.25%, the same level since August last year, will give some respite for businesses. However, the current level is still a source of concern for SMEs.
“Our surveys have showed that around four in ten SMEs say they are directly negatively impacted by the current rate, mainly through higher borrowing costs. Smaller firms and those in sectors such as hospitality and retail are disproportionately impacted.
“The Bank has outlined that inflation is likely to remain volatile for the foreseeable future. Alongside this, UK firms face significant uncertainties with geopolitical conflicts, new trade barriers with the EU, and ongoing skills shortages. The Red Sea crisis has already seen spikes in shipping container and insurance costs which could feed into a renewed wave of inflation.
“With a General Election fast approaching, political parties will need to set out a clear plan for the economy. The BCC is setting out it’s priorities for the next Government across a series of reports, starting with ‘Green Innovation Challenge’ report, released this week. “
We examine the integration of emerging technologies in the manufacturing industry, looking at both the advantages and drawbacks. From heightened efficiency and innovation to potential challenges and risk.
Will the manufacturing sectorexperience a digital revolution with the introduction of advanced technologies like, AI, data analytics and machine learning?
Are manufacturers poised to enhance efficiency by leveraging data analytics for deeper insights and automating tasks?
It seems at first sight appealing. Businesses being able to make more informed decisions, operations becoming more efficient along with quality and customer service improvements.
A recent survey published by Make UK1 showed more than half of companies (55%) have already implemented or, are planning to implement, AI and machine learning to automate decision- making processes and improve operational efficiency. Some 76% of respondents to the survey reported investment in automation, and 59% had plans to increase automation expenditure this year compared with last. 30% of companies reported plans to automate up to half of processes in the next two years.
But are there disadvantages?
It would seem the question is not if but when, manufacturing companies will adopt more automation in their processes. What are the impacts of this?
Automation comes with a range of advantages, including continuous speed, yet this very attribute can also pose as a significant risk. It can minimise error rate but if an automated system makes a mistake, this will continue until someone detects and corrects it.
In addition, the upfront cost of automating a business often deters businesses when brought into consideration. Is the outlay viable against the future savings and increased productivity?
How do you know if automation is right for your business?
Some Key Considerations:
- Do you have the funds?
- Do you have a rule based, high volume process?
- Could the introduction of automation take your already successful business and transform your processes for the better?
- Do you have relative certainty around customer contracts to meet production targets?
- Do the automation costs provide a reasonable return period?
- Can you afford not to? If competitors are taking this route.
- What if external factors change? Energy costs, political risks, availability of engineering expertise etc.
With AI and machine learning being a rapid developing area when is the right time to invest? What is the best technology to utilise? Making incorrect choices can lead to expensive mistakes which could ultimately effect the viability of the business.
At PIB, we work with our corporate clients in the manufacturing industry to help build an understanding of both the benefits and the risks faced with automating processes and go beyond simply finding risk transfer solutions.With an experienced team we have the capability to provide guidance and support to your business on all aspects of enterprise risk management.
To find out how PIB can support your manufacturing organisation please contact Amy Knox to speak with one of our team.
Amy Knox, Business Development Executive e. amy.knox@pib-insurance.com t. 07522 229701
Gigabit broadband rollout remains the top priority for local authority digital leaders, but 5G continues to divide opinion and there’s not enough focus on net zero.
These are just some of the key findings from the second annual survey of digital leaders at councils across England, Scotland and Wales, carried out by Edinburgh-based connectivity consultancy, FarrPoint.
When the research was conducted in December 2023, respondents were asked about their priorities when it came to fixed and mobile connectivity, as well as the barriers preventing progress. Responding councils were spread across a variety of geographical locations, from ‘dense urban’ to ‘rural’ areas.
The survey covered a range of topics from councils’ views on 5G and gigabit-capable broadband to smart places and net zero.
Key findings uncovered during the research were:
- Getting more areas covered by gigabit broadband remains the top connectivity priority for council digital leaders for the second year running. 47% of respondents chose it as their number one priority, with another 30% as second. Getting 100% of their area covered by at least super-fast connectivity featured as the second highest priority for councils.
- 51% of councils who responded have an up-to-date digital connectivity strategy (up from 43% in Jan 2023), but around 11% still have no digital connectivity strategy at all and almost 1 in 3 (30%) don’t have a digital champion.
- The importance of 5G continues to divide opinion. Even though respondents said 5G was important to them, none picked 5G as their top priority for 2024. Ensuring more areas covered by 4G was also ranked as a higher priority than 5G on average, suggesting that the business case and additional benefits that 5G could potentially deliver have not yet been widely demonstrated.
- There has been a notable increase in awareness and preparedness for the various forthcoming connectivity service switch-offs. For example, only 2% of respondents had not started planning for the migration from copper to fibre broadband, compared to 27% last year. However, 21% were still to put plans in place for the 2G and 3G switch offs – which are already under way.
- Despite the importance of climate action, for the second year running, aligning digital connectivity to net zero targets was ranked as the lowest priority by respondents. There was even a slight increase (from 2% to 6%) in respondents who said net zero was ‘not important’ to the digital department.
- Local infrastructure deployment challenges – such as issues around street works, permits and inconsistent planning processes – overtook a lack of central government funding as the biggest perceived barrier to improved digital connectivity.
- There has been a small decrease (from 72% to 70%) in the percentage of councils who are either already deploying or considering smart places projects as they look to maximise the benefits of improved connectivity. The majority of respondents (64%) believe social care is the area where smart technology can have the greatest impact.
- Affordability is seen by councils as the biggest barrier to residential take-up of digital connectivity services, reflecting the ongoing cost-of-living crisis.
Dr Andrew Muir, Chief Executive at FarrPoint, said: “This is the second year of our connectivity research with local authority digital leaders, and it was interesting to see what’s changed – and what hasn’t – since our last report a year ago.
“Some great progress has been made on digital connectivity within councils, but there are still areas for improvement. For example, it was clear from the responses that many local authorities are under significant financial pressure, which is, at times, leading to a reduced focus on supporting the digital connectivity rollout and take-up of services.
“It was disappointing to see that local issues, such as the planning process and permits, were seen as this year’s biggest barrier to improving digital connectivity. I’d encourage councils to work together with other public bodies, central government and telecoms operators to tackle these challenges, because they are definitely surmountable.
“During the ongoing cost-of-living crisis, councils could also be doing more to encourage take-up of improved connectivity services among their residents. There’s a widely held perception that these are unaffordable, but we’ve seen many cases where improved services are just as cheap, or even cheaper, than existing services.
“I also hope to see a change in approach to net zero, to reflect the pivotal role that better connectivity can play in achieving the country’s environmental targets. Net zero isn’t someone else’s problem – digital departments can make a significant contribution.”
Dija Oliver, digital project manager at Swansea Bay City Deal, who contributed to the report on the survey, added: “Digital infrastructure affects all of the Swansea Bay City Deal projects and programmes. It is essential to the delivery of our partners’ digital transformation strategies, the economic growth of our region and improving social inclusion. We can only achieve the objectives of our programme by working collaboratively with industry, government, and our partners, using data to make decisions and being agile in our approach.
“I welcome this report by FarrPoint and believe that sharing these findings across authorities and encouraging debate can only help us reach our collective ambitions.”
