Cybersecurity is crucial for businesses of all sizes, but it’s especially important for small and medium-sized businesses (SMBs). Why? First, contrary to popular belief, cybercriminals often see small businesses as easier targets due to their perceived lack of security measures. Second, their size and limited resources make it much harder to bounce back from cyberattacks. In fact, 60% of small businesses fail to survive more than six months after a cyberattack (Galvin, 2018). That’s because a single breach can result in financial losses, legal implications, and a damaged brand reputation. But we say this not to instill fear but rather to highlight the importance of cybersecurity.
Whether you’re a small or medium-sized business, here are some steps you can take to safeguard your company’s security.
Understanding Common Threats
Let’s start with a good comprehension of the most common threats your business might face. These include phishing attacks, malware, and ransomware.
- Phishing attempts often come through emails that appear legitimate but aim to steal sensitive information.
- Malware can infiltrate your systems through suspicious downloads.
- Ransomware can lock you out of your data until you pay a hefty fee.
Now that we’ve recognized the threats, let’s look at ways you can combat them effectively.
1. Use Strong, Unique Passwords
Passwords are your first line of defense because one of the easiest ways hackers gain access to your systems is through weak or reused passwords. It’s tempting to use a password you’ll remember across multiple platforms, but this can leave your entire network vulnerable if one account gets compromised. Instead, use strong, complex passwords for all your business accounts, and don’t forget to encourage your employees to do the same. Avoid predictable choices like “password123” or “admin”. Consider using passwords featuring a mix of letters, numbers, and special characters. Luckily, there are numerous password management tools available to help you manage your passwords without needing to memorize them. Tools like 1Password can generate and store strong passwords securely for everyone in your company. Also, remember to regularly update your passwords to enhance your security against cyber intrusions.
2. Enable Multi-Factor Authentication (MFA)
Unfortunately, even with strong passwords, unauthorized access can still happen. That’s where multi-factor authentication, like two-factor authentication (2FA), comes in. 2FA adds an extra layer of protection by requiring users to verify their identity in two or more ways—usually a combination of something they know (password) and something they have (a mobile device or authentication app). With 2FA in place, even if a hacker steals a password, they still can’t log in without the second form of verification.
3. Keep Software Up-to-Date
Another way cybercriminals exploit systems is through software vulnerabilities. You can prevent this by making it a habit to regularly update software so that security patches are applied in a timely manner. Set automatic updates where possible, and schedule regular checks for critical software like operating systems, antivirus programs, and any business-specific tools you use. Automated updates can help ensure you don’t miss important patches that could leave your systems exposed.
4. Use Firewalls and Antivirus Software
A firewall acts as a barrier between your internal network and the outside world, blocking malicious traffic before it reaches your systems. Firewalls are available as software or dedicated hardware devices. Notable device brands include Cisco, Fortinet, and Watchguard. While Windows and Mac computers generally have built-in firewalls, if you’re looking for separate software, Sophos or SonicWall are popular options. You can combine your firewall with up-to-date antivirus software to detect and remove harmful malware. The most common options include Norton, McAfee, and Avast, though there are many others to choose from. Together, these tools provide essential layers of protection for your business.
5. Limit Access to Sensitive Information
Hear us out–not every employee needs access to all your company’s data. Implement role-based access controls (RBAC) to limit who can view or edit sensitive information. This not only reduces the risk of internal threats but also minimizes damage if a cybercriminal gains access to one employee’s account.
6. Backup Your Data Regularly
In the unfortunate event of a ransomware attack or system failure, having backups of your important business data can save you from a complete loss. That’s why it’s critical to ensure your data is backed up regularly–both locally and in the cloud. This way, if your network is compromised, you can restore essential files and minimize downtime.
7. Train Employees on Cybersecurity
General awareness and knowledge go a long way in helping you prevent cyberattacks. Human error is one of the leading causes of data breaches, so educating your team on cybersecurity is crucial. All it takes is one click on a malicious link for your security to be compromised. Conduct regular training sessions to help employees recognize phishing attempts, avoid suspicious downloads, practice safe browsing, and, most importantly, report suspicious activity. It’s also a good idea to implement policies around using personal devices for work and handling sensitive data to reduce the risk of accidental exposure. Remember, your employees can potentially be your weakest security link without proper knowledge, so don’t be afraid to invest in adequate training.
8. Lastly, Create a Response Plan
Despite best efforts, breaches can still occur. Having a well-thought-out incident response plan ensures your team knows what to do in case of a cybersecurity attack. This plan should outline steps to take if a breach happens, who to notify, and how to contain and recover from the attack quickly.
Up Your Security Today
Tightening your cybersecurity is an ongoing process. Staying proactive and keeping your employees informed will go a long way in protecting your company’s valuable data.
If you’re looking for expert help in securing your business, AD Solutions offers comprehensive IT solutions to keep your systems safe. Contact us today to learn more about how we can support your business.
Reference
Galvin, J. (2018, May 7). 60 percent of small businesses fold within 6 months of a cyber attack. Inc. https://www.inc.com/joe-galvin/60-percent-of-small-businesses-fold-within-6-months-of-a-cyber-attack-heres-how-to-protect-yourself.html
