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Showing posts from November, 2023

Big Cyber Challenge to Small Businesses

  The number of startups and micro, small and medium enterprises (MSMEs) are growing in India. They contribute considerably to the Indian GDP. They will play a crucial role in making Bharat a $5 trillion economy in the near future. They face many challenges to making their businesses sustainable and profitable. Cyber threats have emerged as one of the significant threats for big corporations as well as MSEMs. Cyber threats remain similar for big corporations as well as MSMEs. This is because both kinds of organizations use technology to capture, process and store sensitive data and information. This data includes financial data, customer data, intellectual property (IP), transactional data, and business emails. Major cyber threats to MSMEs and startups are spam and phishing attacks, ransomware attacks, distributed denial of service (DDoS) attacks, identity theft, data theft, and IP theft. A recent report by the Cyber Peace Foundation revealed that 43% of cyberattacks target MSMEs and