Cybersecurity for Small Businesses: 6 Staple Tips for Online Safety
In the present times, where the world has transferred most things to cyberspace, cybersecurity has become an essential priority. For businesses, the challenge is daunting. The reason is the limitation of resources and the lack of dedicated IT experts and technology.
This makes small business owners prone to cybersecurity attacks and an easy target for cybercriminals who thrive on companies with weak protection and security infrastructure.
Thus, cybersecurity isn’t a tool for just big corporations but also vital for small business owners to learn about the risks and implement it. This ensures data protection for both the company and its customers, ensuring customer trust and business continuity.
This blog aims to provide essential tips for small businesses to stay safe online while mitigating the risks of security breaches.
Some Facts to Inform of Threat to Small Businesses
In recent years, the growing threat to small businesses has grown significantly. According to research by Verizon in 2023 for the Data Breach Investigation Report, small businesses accounted for 28% of all data breaches. This is a large portion considering small businesses being less than large businesses and big corporations.
Moreover, according to another report from the National Cyber Security Alliance, 43% of cyberattacks target small businesses, and 60% of businesses that face an attack close down within six months due to the pressure, and loss of operational efficiency, costs, and trust of customers.
These alarming statistics highlight the importance of cybersecurity and the need to create a robust structure from the starting point.
6 Key Cybersecurity Tips for Small Businesses
The cybersecurity landscape can be complex for small businesses and is constantly evolving. However, with small actionable steps, small businesses can protect and mitigate the damages occurring due to security breaches.
The following are some essential tips when it comes to protecting your business from cybersecurity threats:
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Implement Firewalls and Network Security
When it comes to cybersecurity and staying safe online, the first key to protection would be installing firewalls and having strong network security, i.e., for your internet and wireless fidelity (Wi-Fi).
It is important for a small business to choose secure and encrypted internet and Wi-Fi networks since they are the first line of exposure to cyberattacks. They should make sure that strong passwords are used, encryption with WPA2 or WPA3 is enabled, and ensure a VPN for public Wi-Fi, if needed. It should also be ensured that your router has a firewall enabled.
For instance, small businesses based on solopreneurs, small home startups, or partnerships can invest in widely available home internet providers such as Spectrum. They have reasonably priced plans for such businesses that won’t have to go in with a big investment. Plus, Spectrum routers come as Advanced WiFi, have built-in firewalls, which adds the layer of protection a business requires with their internet. For more on this, exact protection acquired and plan, you can contact Spectrum customer service.
Bonus: Other Tips to Secure the Wi-Fi Network:
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2. Educate Your Employees on Cybersecurity
One of the essential steps while implementing infrastructure changes is educating your employees. They need to understand how to stay safe and keep the business safe.
Human error is a leading cause of data breaches. For example, a click on the wrong link may lead to a virus entering the company’s devices. The precise statistics vary from country and industry, but data breaches happen because of careless, untrained employees. The other case may be an insider who purposely gives access to cybercriminals.
To prevent this from happening, employees need to be trained in creating a cyber-secure work environment. This also includes identifying the threat and reporting it before it occurs.
3. Assess Potential Risks & Mitigate
Since the digital space is immeasurable, it is better to assess potential risks that “might” compromise security and mitigate them. It is a systematic process to locate the vulnerabilities and threats lying deep in the company’s IT, networks, systems, and data.
The assessment will allow us to know about these threats and work on building strategies to mitigate disruptive incidents. This further allows for improved visibility of IT assets and weaknesses across applications and systems – exactly what needs to be improved and removed.
4. Regularly Back Up Files
This is an important element of saving data from cyberattacks. Data makes up a large chunk of the company’s information, systems, and daily activities. Thus, it is important to train employees and IT to secure data regularly on cloud storage or other types.
It is also better to automate these backups, so no one forgets to back up. In case of an attack, this is the most helpful method that helps restore your data and activities, allowing for no break in business and less damage.
Moreover, multiple backups may be required, some offline to secure your data from a ransomware attack (this prevents access to devices and data, so offline security is an added layer of protection).
5. Create Strong Passwords & Authenticate
This is an important step in creating secure devices and activities, so nothing can be hacked. You can create a strict password pattern that is followed by all employees.
Passwords must also be changed frequently to secure all data. Additionally, you can create multi-factor authentication processes, especially if you are handling financial information.
6. Encrypt Key Data
It is better to have encrypted data with sensitive information, such as when a business deals with bank accounts, cards, personal data, and such. The end-to-end encryption for all sensitive data secures the systems plus data.
With end-to-end encryption, no third party can break into your systems. In decrypting, the data isn’t as easy as it alters information into unreadable codes. However, this may be an expensive addition for a small business against cybercrime.
Bonus Points: Additional Security Measures
- Limit access to sensitive data
- Use a Virtual Private Network (VPN)
- Guard against Physical theft of data
- Have indicators for hiring the right people
- Don’t overlook mobile device protection
- Ensure protection measures by third parties
