The business development process involves exploring new opportunities, developing and maintaining relationships with customers, forming strategic partnerships, and establishing strategies that boost profits. It impacts every department within a company from human resources to marketing. This field is particularly difficult because it requires vigilance to protect against cyberattacks, which can disrupt or even destroy systems and compromise the data of companies and organizations.
The past decade has seen a steady increase in the sophistication of cyberattacks, as hackers target more and more digital assets. The severity of attacks increased as criminals sought to make money and monetize. In response, cybersecurity has been elevated to the top of many companies’ priority lists. The threat of losing customers’ trust, lawsuits, and regulatory fines has made the adoption of security systems that are effective essential to corporate success.
However, the cost of adopting cybersecurity technology could be prohibitive for SMEs operating under tight financial restrictions. This study aims at identifying the external and internal factors that affect SMEs adopting cybersecurity technologies. To identify relevant studies and research, a systematic review of the literature was conducted using Google Scholar, databases such as EBSCO, ProQuest and EBSCO, and databases like EBSCO. To locate relevant studies, key terms like cybersecurity and data breaches were searched for.
This study suggests that technological attributes and perceived utility are the most important factors driving the adoption of cybersecurity technology in SMEs. Furthermore, IT modularity and observability are positively associated with the adoption of cybersecurity technology within SMEs.