Earlier this year, records from the ministry of micro, small and medium enterprises (MSMEs) pegged the number of businesses in this category at over 7.9 million. Given the sheer size of the SME segment, it is evident that small businesses play a crucial role in India’s race to become a $5-trillion economy. Nearly 8 million SMEs dot India’s landscape today.   

That said, they have their fair share of hurdles to tackle, with cybersecurity (or the lack of it) being one of the most threatening.  Around 43 per cent of cyberattacks in the country target small business startups, and most SMEs are ill-equipped to handle such cyber risks. And even more alarmingly, over half of the SMEs, that fall victim to cyberattacks close down within six months.