Small businesses rely on technology a lot. Email, online banking, cloud storage and customer relationship management tools are just some of technologies that businesses use regularly, but their use does come with an element of risk.
Cybercriminals don’t just go after big enterprises, they often go after small businesses because they often don’t have the same level of defences, and many don’t take cybersecurity seriously enough. That’s why it’s important to know some cybersecurity basics to ensure your business is adequately protected..
What Do We Mean By Cybersecurity?
Cybersecurity is the process of keeping your computers, networks, mobile devices and private information safe from theft, damage or access, away from people who shouldn’t have access to them. It’s not enough to just install antivirus software and hope for the best; cybercriminals and hackers are smarter than that. You need to have a full plan of action to keep your business, employees and customers safe. Cybersecurity is about keeping the digital elements of your business, the things that keep your business going, safe and secure.
Why Cybersecurity is Important for Small Businesses
A lot of small business owners think that cyberattacks only happen to big companies, but that’s not the case. Small businesses tend to be good targets because they don’t always have as many security resources. This is why cybersecurity is so important, even if your business is relatively small.
Financial Protection – Cyberattacks can steal money, force people to pay ransomware or cost a lot of money to fix. Even a small breach can cost a lot.
Trust from Customers – If a data breach exposes customer information like emails, addresses, or payment information, it can hurt your business’ reputation. This is hard to recover from.
Operational Continuity – Cyberattacks can stop your business from running. For example, you might not be able to access your own systems for many days, pausing operations.
Legal and Compliance – As a small business, you need to protect customers’ personal data. If you don’t and a cyberattack breaches that, you could find yourself in legal trouble.
Cybersecurity isn’t just a problem for your resident IT expert, it’s something that every business needs to take care of.
Common Cyber Threats That Small Businesses Face
Phishing Attacks
Phishing is when you get emails, texts or websites that are meant to trick you into giving up your passwords or financial information. If the email looks real, even smart employees can be fooled. If you click the link, hackers might be able to get to your bank information.
Bad Software
Malware is “bad” software that can get into your systems, steal private information or break your processes. It can come through email attachments, websites that are infected, or downloads that aren’t safe.
Ransomware
Ransomware is a type of malware that locks your files and asks for money to unlock them. Small businesses are often targeted because they don’t always have strong backups.
Weak Passwords
It’s easy for hackers to get into your accounts if your passwords are simple, reused or easy to guess. Hackers can get into multiple systems with just one stolen password.
Unsecure Networks
Wifi networks that are open to the public or not well protected are at risk for small businesses. Hackers can get into your systems through these networks or steal data that is sent over them.
Threats from Within
Not all threats come from outside your business. Employees or contractors can accidentally – or, if you’re really unlucky, purposely – put sensitive data at risk.
Basic Cybersecurity Steps Every Small Business Should Take
You might be a small business, but cybersecurity doesn’t have to be complicated.
Make Sure Your Passwords Are Strong and Unique
Don’t use the same password for more than one account and make them hard to guess by using a mix of uppercase and lowercase letters, numbers and symbols.
Turn on Multi-Factor Authentication (MFA)
When you log in with MFA, you have to do a second check, like entering a code sent to your phone or an app. This makes it much harder for hackers to get in, even if they steal your password.
Update Your SoftwareUpdates to software can often fix gaps in your business’ cybersecurity. This includes updating operating systems, plugins, apps, security software and antivirus software. Turn on automatic updates whenever you can to lower the risk.
Teach Employees About Cyber Safety
Your team can be your best defence or your worst enemy. Make sure you do regular training on finding phishing emails, not downloading things that aren’t safe and taking care of private customer information. Even employees knowing the basics can help keep big problems from happening.
Make Sure to Regularly Back Up Your Data
Be sure to make copies of your files both online and offline, and make sure you can quickly restore data by testing your backups from time to time. If you have the right backup plan, your business can survive ransomware or a hardware failure.
Protect your Wifi Network
Protect your wifi network by using WPA2 or WPA3 for strong encryption. Change the usernames and passwords that come with your router, and keep your business wifi and guest wifi separate.
Limit Who Can See Sensitive Information
Only allow employees who need access to sensitive information have access, the people who can’t do their job without it. Limiting permissions lowers the risk of data being leaked.
Make a Plan for How to Respond to an Incident
Breaches can still happen, even with strong defences in place. But, if you have a plan, you can act quickly. Find out who to call if your business suffers a cyberattack, make sure you know how to stop the breach immediately and create a plan for how to tell affected customers.
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Small businesses rely on technology a lot. Email, online banking, cloud storage and customer relationship management tools are just some of technologies that businesses use regularly, but their use does come with an element of risk.
Cybercriminals don’t just go after big enterprises, they often go after small businesses because they often don’t have the same level of defences, and many don’t take cybersecurity seriously enough. That’s why it’s important to know some cybersecurity basics to ensure your business is adequately protected..
