JUNEASIA BUSINESS OUTLOOK9Potential Solutions Cybersecurity Guidance for SMBsCybersecurity is a profoundly difficult problem, one that is exacerbated by SMBs' limited resources. Nonetheless, the issues raised above points to specific steps that could be taken to assist SMBs in better dealing with this persistent threat. A strong public-private partnership is likely to be critical in assisting SMBs in overcoming resource constraints. The government can play an important role in the development and dissemination of such educational programs. In fact, the National Institute of Standards and Technology's Framework for Improving Critical Infrastructure Cybersecurity has already taken a significant step in this direction. This Framework, as one panelist put it, can serve as a `foundational educational tool for SMBs'.Identify Ways of Fostering Economies of Scale for Cybersecurity SolutionsToday, responsibility for cybersecurity rests with the SMBs, not the government. Nonetheless, policymakers could look into ways to encourage the development of economies of scale for cybersecurity solutions to help alleviate the resource constraints faced by SMBs. There are numerous options in this regard, but one is to create tax credits for vendors to encourage them to develop cost-effective cybersecurity solutions tailored to the specific needs of SMBs. Similarly, policymakers could consider measures to assist the nascent cyber-insurance market in reaching a level of maturity that will reduce costs and provide solutions tailored to SMBs. Some options include establishing a program similar to the National Flood Insurance Program to help buttress the private market in the event of catastrophic, widespread attacks, or having the government act as a reinsurer for the cybersecurity insurance market during its infancy.Final NotesUtilizing innovative technologies is critical for SMBs to succeed in the modern economy, but SMBs must be aware of the risks that new technologies pose. SMBs bear primary responsibility for cybersecurity, and data suggests that they can do a better job of implementing basic cyber defences. Nonetheless, cybercriminals today have significant advantages over SMBs. A vibrant and dynamic collaboration between the public and private sectors could help to level the playing field significantly. There are undoubtedly many more that should be carefully considered. Let us hope that policymakers and SMBs can collaborate to find the most cost-effective and effective solutions for SMBs. In case it fails, it might get more riskier, as the cybercrimes are increasing day by day. CYBERSECURITY IS A PROFOUNDLY DIFFICULT PROBLEM, ONE THAT IS EXACERBATED BY SMBS' LIMITED RESOURCES
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