Impact of Ransomware Attacks on Small and Medium Enterprises (SMEs)

Ransomware is a serious cybersecurity threat for small and medium enterprises (SMEs). These businesses may have limited cybersecurity budgets, fewer technical specialists, and less developed recovery procedures than larger organizations. An incident can cause financial loss, operational disruption, reputational damage, and difficult decisions about ransom payment. This literature-based paper examines research on ransom-payment decisions among Dutch SMEs, ransomware economics, and the effects of broader cybersecurity threats on SMEs in Kajiado County, Kenya. The reviewed studies highlight the importance of recoverable backups and preparedness, while also showing that findings must be interpreted in their research context. The paper recommends practical measures, including protected backups, multifactor authentication, timely software updates, employee awareness, and incident-response planning. It does not report new experimental results. Keywords: ransomware; small and medium enterprises; SMEs; cybersecurity; financial loss; backup systems; business continuity