Small and medium enterprises (SMEs) are crucial to national and regional
development and are significant drivers of job creation and income generation. To
remain competitive, SMEs are increasingly adopting Digital Transformation (DT) and
Business Model Innovation (BMI) to take advantage of modern digital technologies.
However, these transformations can also pose serious cybersecurity risks if
organisations do not prioritise cybersecurity threats associated with these modern
technologies. Therefore, this conceptual desktop study examines the cybersecurity risks
of information and communication technologies (ICT) utilised in DT and BMI
processes and recommends fostering an appropriate cybersecurity culture to protect
SMEs during and after these transformations.
Keywords: Business model innovation (BMI), Cybersecurity culture, Digital transformation (DT), Small and medium enterprises (SMEs).
