The ongoing digitization has increased businesses’ dependence on IT systems, thereby increasing their susceptibility to cyberattacks. This problem is particularly significant for Small and Medium Enterprises (SMEs) due to their limited resources and expertise in cybersecurity. Considering their essential role in the economy, protecting SMEs from cyber threats is vital for economic stability and growth. This study presents a survey analysis involving tech-oriented SMEs in Sweden to comprehensively assess their cybersecurity posture. The survey included 369 Swedish SMEs across various regions of Sweden. The quantitative and qualitative analyses indicated a lack of cybersecurity knowledge, challenges in developing secure products, and inadequate compliance with cyber-standards due to constraints related to lack of guidance, budget, time and staff shortage.