Small and medium enterprises account for over 99 percent of all enterprises in Singapore and employ roughly two-thirds of the workforce. Yet many SMEs operate with minimal cyber security measures, mistakenly believing they are too small to be targeted. The reality is that SMEs are disproportionately targeted precisely because attackers know their defences are typically weaker.
Why SMEs Are Targeted
Cyber criminals view SMEs as attractive targets for several reasons:
- Weaker defences: Limited budgets mean fewer security tools, less monitoring and often no dedicated security staff
- Valuable data: SMEs still hold customer personal data, financial records and intellectual property that has real value on the dark web
- Supply chain access: Many SMEs serve as vendors to larger organisations, making them a stepping stone for attackers targeting bigger prizes
- Ransomware vulnerability: SMEs often lack proper backups and incident response plans, making them more likely to pay ransoms
CSA Cyber Essentials and Cyber Trust
Singapore's Cyber Security Agency (CSA) has developed two certification marks specifically designed to help organisations demonstrate cyber security readiness:
Cyber Essentials
Cyber Essentials is aimed at SMEs and covers fundamental security practices. It focuses on five key areas: asset management, secure configuration, access control, software updates and malware protection. Achieving this mark demonstrates a baseline level of cyber hygiene and can be a differentiator when bidding for contracts.
Cyber Trust
Cyber Trust is designed for larger or more digitally dependent organisations and covers a broader set of security domains including risk management, incident response and third-party security. For SMEs aspiring to grow, working towards Cyber Trust standards positions them for future requirements.
Government Grants and Support
Singapore offers several support schemes that SMEs can leverage for cyber security:
- CSA Chief Information Security Officer as a Service (CISOaaS): Provides SMEs with access to cyber security advisory services at subsidised rates
- IMDA SMEs Go Digital programme: Offers pre-approved digital solutions including security tools at subsidised costs
- Productivity Solutions Grant (PSG): Supports adoption of IT solutions including cyber security tools with up to 50 percent co-funding
- Enterprise Development Grant (EDG): Supports business transformation projects including cyber security capability building
Practical Security Measures on a Budget
Start with the Basics
- Enable multi-factor authentication (MFA): This single step prevents the majority of account compromise attacks and costs nothing for most cloud services
- Keep software updated: Enable automatic updates wherever possible. Unpatched software is the most common attack vector
- Use strong, unique passwords: Deploy a password manager for the organisation. Most offer affordable business plans
- Implement regular backups: Follow the 3-2-1 rule: three copies, two different media types, one offsite. Test restoration regularly
- Secure your email: Enable spam filtering, DMARC/DKIM/SPF records and train staff to recognise phishing
Data Protection Essentials
Under the PDPA, every SME must appoint a DPO and implement reasonable security measures. Cost-effective approaches include:
- Engaging an outsourced DPO rather than hiring a full-time specialist
- Using a data protection management platform to systematise compliance without manual overhead
- Deploying online awareness training rather than conducting expensive in-person sessions
- Creating essential security policies using templates and frameworks rather than starting from scratch
Affordable Security Tools
- Endpoint protection: Modern cloud-based antivirus solutions offer enterprise-grade protection at SME-friendly pricing
- Firewall: Most business routers include basic firewall capabilities. Configure them properly
- VPN: Essential for remote work. Cloud-based VPN services are affordable and easy to deploy
- Email security: Cloud email providers like Microsoft 365 and Google Workspace include built-in security features that should be fully enabled
Building an Incident Response Capability
SMEs cannot afford a dedicated SOC, but they must be prepared to respond to incidents. At minimum:
- Document a simple incident response plan covering detection, containment, notification and recovery
- Identify who will lead the response and ensure they understand the PDPA's three-day notification requirement
- Maintain current contact details for your DPO, IT support provider and legal adviser
- Consider retaining a DPO support service that includes incident response assistance
Employee Training is Non-Negotiable
The most expensive security technology is rendered useless if employees click on phishing links or share passwords. Regular security awareness training is the most cost-effective security investment an SME can make. Focus on practical scenarios relevant to your business, including phishing recognition, data handling procedures and incident reporting.
Conclusion
Cyber security for Singapore SMEs is not about matching the spending of large enterprises. It is about implementing the right basics consistently, leveraging available government support and building a culture of security awareness. Start with the CSA Cyber Essentials framework, address your PDPA obligations through an outsourced DPO and compliance platform, train your people and build from there.