Cybersecurity strategy: future proof cybersecurity for small to medium enterprises in South Africa

Abstract

Technological development has witnessed tremendous and an increase in business interactions as they execute their daily business. Information technology and broadband are significant drivers of productivity and efficiency growth for small firms as they expand their market. This development has raised growing concerns as it relates to data and information security, infrastructure, and related resources  due to an increase in cybersecurity hazards faced  by Small to Medium Enterprises globally. In South Africa, although, during the first four months of 2022, cyber-attacks decreased by 13% to account for 419506 internet attacks, this statistic remains high enough for concern. To counter escalating cybersecurity risks, organizations must have a cybersecurity strategy to safeguard their operations, clients, data, and infrastructure. The threat landscape is changing over time, and despite ongoing attempts to strengthen security, they don't appear to be enough to prevent evolving cyberattacks. The study aims to identify cybersecurity threats facing Small to Medium Enterprises in South Africa by reviewing the literature and identifying key Cybersecurity challenges. It also examines the strategies, resources, and techniques used in South Africa to reduce cybersecurity threats. Lastly, the paper recommends adopting a comprehensive Cybersecurity strategy to build future-proof cybersecurity for Small to Medium Enterprises in South Africa.

Keywords: {'name': 'Cybersecurity, Cybersecurity risks, Cybersecurity threats, Cybersecurity Strategy, Future-proof Cybersecurity'}

Authors & affiliations

Audecious Mugwagwa
Affiliation not supplied

Ernest Bhero
Affiliation not supplied

Colin Chibaya
Affiliation not supplied

Deposited references

Supplied references, not a list of publications citing this article.

DOI: 10.13052/jcsm2245-1439.414

Awasthi, S. (2022). Half of SMEs admit they do not provide cyber security training, despite nearly two thirds reporting an increase in cyber security threats over the last 2 years. Retrieved from https://www.fenews.co.uk/edtech/62-of-executive-managers-in-smes-have-experienced-an-increase-in-cyber-security-threats-in-the-last-2-years/.

DOI: 10.1080/23738871.2018.1520271

Bada, M., Sasse, A., & Nurse, J. (2019). Cyber security awareness campaigns: why do they fail to change behaviour? arXiv:190102672 Cs.

DOI: 10.1016/j.giq.2017.02.007

DOI: 10.1016/j.cose.2021.102258

Comerford, L. (2022). Why small businesses are vulnerable to cyberattacks. Security. Retrieved from https://www.securitymagazine.com/blogs/14-security-blog/post/97694-why-small-businesses-are-vulnerable-to-cyberattacks.

Davis, J. (2019). 71% of Ransomware Attacks Targeted Small Businesses in 2018. Health Security. Retrieved from https://healthitsecurity.com/news/71-of-ransomware-attacks-targeted-small-businesses-in-2018.

Dziergwa, M. (2021). Why cyber security and regulatory compliance are one and the same. Business Continuity. Retrieved from https://www.continuitycentral.com/index.php/news/erm-news/6759-why-cyber-security-and-regulatory-compliance-are-one-and-the-same.

DOI: 10.1007/978-3-030-85799-8_16

Horn-Botha, B. (7 September 2021). Small and vulnerable: SMEs on ransomware collision course. ITWeb. Retrieved from https://www.itweb.co.za/content/5yONPvEgOl1MXWrb.

Kavanagh, C. (2019). New Tech, New Threats, and New Governance Challenges: An Opportunity to Craft Smarter Responses?. Carnegie endowment for international peace.

Malumo, M., & Mzekandaba, S. (2022). Why SMEs in South Africa Need Cyber Security: Fear of ‘cyber capture’ amid rising cyber attacks. Ikhokha. Retrieved from https://www.ikhokha.com/blog/why-smes-in-south-africa-need-cyber-security.

Mcanyana, W., Brindley, C., & Seedat, Y. (2020). Insight into the cyberthreat landscape in South Africa. Accenture.

Moyo, A. (2021). Justice department battles to contain ransomware attack. ITWeb. Retrieved from https://www.itweb.co.za/content/DZQ58vVPOB1MzXy2.

Moyo, A. (2019). City of Joburg hit by cyber attack. ITWeb. Retrieved from https://www.itweb.co.za/content/dgp45qaG8gZ7X9l8.

Niekerk, B. v. (2017). An Analysis of Cyber-Incidents in South Africa. The African Journal of Information and Communication (AJIC), Volume 20, pp. 113-132.

Peralta, P. (2022). Small businesses are leaving themselves vulnerable to cyber attacks. EBN. Retrieved from https://www.benefitnews.com/news/small-businesses-arent-investing-in-cybersecurity.

DOI: 10.23962/10539/32213

Ramberg, B. (2021). How to Protect Your Small Business From Insider Threats. Altitude integrations. Retrieved from https://altitudeintegrations.com/how-to-protect-your-small-business-from-insider-threats/.

Robertson, B. (2020). Top 5 Cybersecurity Threats to Small Businesses plus Tips for How to Protect Yourself. Retrieved from https://www.candsins.com/blog/top-small-business-cyber-security-threats/.

Segal, E. (2022). Small Businesses Are More Frequent Targets Of Cyberattacks Than Larger Companies: New Report. Forbes. Retrieved from https://www.forbes.com/sites/edwardsegal/2022/03/30/cyber-criminals/?sh=23bb252b52ae.

Shabalala, Z., & Heiberg, T. (2021). Cyber attack disrupts major South African port operations. Reuters. Retrieved from https://www.reuters.com/world/africa/exclusive-south-africas-transnet-hit-by-cyber-attack-sources-2021-07-22/.

DOI: 10.1109/ISTAFRICA.2015.7190538

DOI: 10.23962/10539/23574

Sylvester, C. (2018). Your Small Business’s Greatest Cybersecurity Threat Comes from Inside. Network Depot. Retrieved from https://www.networkdepot.com/small-business-insider-threats/.

DOI: 10.1155/2020/5267564

Thabit, T. H. (2021). The Impact of Implementing COBIT 2019 Framework on Reducing the Risks of e-Audit. ResearchGate.

Winchester, A. M. (2020). Cybersecurity Regulatory Challenges: Making the Case for Unifying Cybersecurity and Regulatory Compliance Initiatives. CyMetric.

Witts, J. (2022). The biggest cyber security threats that small businesses face, and how you can protect yourself against them. Expert Insights. Retrieved from https://expertinsights.com/insights/the-top-5-biggest-cyber-security-threats-that-small-businesses-face-and-how-to-stop-them/.

Wyatt, M. (2021). Responding to the Microsoft Exchange Hack. Wall Street Journal Pro Cybersecurity Research.