Rising cyber-attacks to Small and Medium Businesses( SMB or SME) and cyber security requirements

SMEs contribute to more than one third of GDP in emerging and developing economies and account for 34% and 52% of formal employment respectively. SMEs and young firms that experience rapid growth can have a considerable impact on employment creation and productivity growth, including through innovation, heavy investments in human capital, new demand for advanced products and services, knowledge spill-overs that other enterprises can harness, and impact on local entrepreneurial ecosystems, according to OECD report. Established medium-sized enterprises that innovate and scale up are the driving force behind growth in many OECD economies, often ensuring the coordination, upgrading and participation in supply chains of smaller suppliers.