Factors Affect Cyber Security Readiness and Performance of SMEs: A Case Study of Mogadishu, Somalia

Abstract

The incorporation of new digital technologies into the small business environment has led to the emergence of new potential threats and risks. The impact of cybercrime on the operational effectiveness and performance of business entities is a major challenge. Each year, billions of dollars are lost to cybercrime. In order to address this issue, SMEs have invested heavily in cyber-security protocols. In this study, we aimed to analyze the various factors that influence cyber security readiness among SMEs in the greater Mogadishu area. Specifically, we looked at how management support and resource factors, as well as regulatory factors, affect cyber security readiness among small and medium enterprises in Somalia. The methodology of the study was based on a positivistic approach with descriptive research. The sample size was all operational SMEs in the city of Mogadishu. The respondents were either ICT managers or IT security or other IT professional. A structured research questionnaire was employed to facilitate the collection of data. This was supplemented by the use of Google forms and, where feasible, actual data collection. The analysis of the data was conducted through the utilization of descriptive metrics, correlations and regression, which were presented in the form of tables. The findings of the study revealed a positive relationship between the level of management support, resource and regulatory factors in relation to cyber Security readiness and performance in the city of Mogadishu, indicating a positive correlation. The overall regression showed that the above-mentioned factors play a significant role in the cyber Security status of the SMEs in Mogadishu. In order for SMEs to become more cyber security prepared, the findings of the study indicate that organizations must be adequately prepared to allocate significant financial and technological resources to cover the considerable expenses associated with the pursuit of cyber security status. The study also advises managers to coordinate security choices with organizational objectives and capabilities to lessen imbalances that might prevent the effective application of cyber security measures. Finally, the study recommends that SME policy makers should assess the readiness of the industry and create a set of norms and standards that all firms can meet, as this would support cyber security preparedness and performance.