Other Industry Research
SMEs towards Cyber Security (Q4 2020)
A research report that looks at uncovering SME management/owners' thinking and mindsets towards cyber security.
As an aggregate group, SMEs are a vital economic driving force in Singapore's economy. Not just an economic driver, SMEs have a critical role to play in the cyber security arena. Any cyber vulnerability within SMEs can become a weak link in terms of cyber security. If this leads to a cyber incident, it is unacceptable. Hence there is an urgency to catalyse SMEs towards a stance of progressive cyber security posture and in so doing, increase their quotient of cyber resilience.
Unlike for listed companies, the typical governance framework and practice for cyber security risk management will not work for SMEs. For most SMEs, the tension between many competing priorities fighting for attention from SME owners, and a more far-sighted view of cyber defence, means that SMEs tend to view cyber security as a back-of mind issue.
Together with the rapidly evolving cyber threat landscape, this tension means that SME owners have latent inertia to make decisions on cyber security.
In this study, we have interviewed a diverse selection of SMEs in Singapore from the micro, small, and medium categories to uncover SME management/owners' thinking and mindsets towards cyber security.
View the findings from the study.