Information and communication technologies: a curse or blessing for SMEs?

Abstract This chapter discusses the risk and compliance challenges arising from the growing use of information and communication technologies by firms, in particular small- and medium-sized enterprises. It argues that firms utilize technological advancements to make business transactions quicker and more efficient and enable globalization by relying on the Internet as a strategic tool. It further demonstrates that by so doing, it in turn allows for cyber security threats, which may lead to financial losses and damaged reputations.