Minister Lloyd: Why cyber security matters for every business

23rd October, 2025

By Minister Lloyd

Every firm now runs on digital systems, from payroll and payment readers to logistics. That dependence brings everyday exposure to cyber threats, and when those systems are hit, business stops.

Malicious actors are exploiting vulnerabilities to disrupt operations and damage profitability. The National Cyber Security Centre (NCSC) has warned that hostile cyber activity is becoming more frequent and sophisticated, with 600,000 businesses estimated to have suffered a breach or attack in the last year. Recent incidents in retail and manufacturing underscore the severity of the threats we face, and the impact attacks can have.

Managing cyber security risk effectively is now essential to business continuity and competitiveness. Done well, it builds trust, supports innovation, and drives growth. That’s why I welcome the addition of cyber security to the Good Business Charter. It recognises that strong cyber governance is a core port of responsible business behaviour.

Resilience starts with preparation. Business leaders should ensure they have a robust incident response plan in place, which has been tested within the last year. Being prepared for the worst will help companies when they have to respond to a cyber incident and will increase their chances of being able to maintain operations when an attack happens.

We need to ensure businesses across the economy are prepared for cyber incidents and I encourage all GBC accredited organisations to:

  • Use the Cyber Governance Code of Practice: this resource sets out the fundamental actions to govern cyber risk effectively, including developing and testing incident response plans and creating a cyber security culture.
  • Sign up to the NCSC’s early warning service: this free service informs your organisation of potential cyber attacks on your network
  • Adopt Cyber Essentials and require it in your supply chain: Cyber Essentials is the minimum cyber security standard that businesses should have and prevents the majority of common attacks.

Taking these steps affirms your commitment to the updated Good Business Charter, strengthens your organisation and supports a more resilient UK economy.