A Review of Cybersecurity Challenges in Small Business: The Imperative for a Future Governance Framework

Abstract

Technological shifts — coupled with infrastructure, techniques, and applications for big data — have created many new opportunities, business models, and industry expansion that benefit entrepreneurs. At the same time, however, entrepreneurs are often unprepared for cybersecurity needs — and the policymakers, industry, and nonprofit groups that support them also face technological and knowledge constraints in keeping up with their needs. To improve the ability of entrepreneurship research to understand, identify, and ultimately help address cybersecurity challenges, we conduct a literature review on the state of cybersecurity. The research highlights the necessity for additional investigation to aid small businesses in securing their confidential data and client information from cyber threats, thereby preventing the potential shutdown of the business.