The business development process involves exploring new opportunities, developing and maintaining relationships with customers, creating strategic partnerships, and establishing strategies to increase profits. It impacts virtually every department of a company from human resources to marketing. This is a particularly difficult field https://pebblefuturefest.com/how-to-measure-the-cost-effectiveness-of-a-data-room/ due to the need for constant surveillance against cyberattacks, which can disrupt or even destroy systems and also compromise the data of businesses and organisations.

The last decade has seen a steady rise in the sophistication of cyberattacks, as hackers target more and more digital assets. Particularly, the frequency of attacks increased because bad actors were focused on profit and monetization. In the end, cybersecurity has risen to the top of the priority list of many businesses. The threat of losing customer loyalty, lawsuits, and fines imposed by regulators has made the adoption of effective security technology crucial to the success of a company.

The cost of adopting cybersecurity technology can be prohibitive to SMEs who are operating with tight financial restrictions. This study is designed to pinpoint the external and internal factors that affect SMEs using cybersecurity technologies. To find relevant articles 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 find relevant studies, key terms such as cybersecurity and data breaches were searched for.

This study suggests that technological characteristics and perceived value are the primary factors that influence the adoption of cybersecurity technology within SMEs. Further, IT modularity and observability are positively correlated with the adoption of cybersecurity technology within SMEs.