Cyber Security for Small Businesses
Cybersecurity is a major concern not only for large companies. You need to be concerned about cybersecurity if you are a small-business owner who uses digital tools and works online. Due to budget or resource constraints, small businesses often overlook cybersecurity. However, this makes them even more vulnerable.
Why Small Business Cybersecurity is Important
In 2023, 83% of small companies with 11-50 workers were victims of cybercrime. Financially, the consequences are also severe. The average cost of a small business cyber-breach is £45k.
A worrying number of small businesses continue to underestimate their risk because they assume that they will not be targeted. Cyber-attacks are on the increase, so it’s not a question of if, but when your business will be targeted. Work with accountants who understand the importance of secure financial transactions. For Accountants Bristol, visit https://www.chippendaleandclark.com/accountants-near-me/bristol
A proactive approach towards cybersecurity in small businesses will help reduce these risks. Here are five steps that your business must take.
- You can educate your team
Your first line of defense is awareness. Cyber threats are often introduced through seemingly innocent actions such as clicking a phishing link or using a password that is easy to guess.
Regularly train your employees on the importance of cyber-security. Make sure your employees understand the importance of strong passwords and how to recognise phishing attacks.
Weak passwords are a potential gateway for cyber-attackers. Encourage your employees to use unique, strong passwords to access each service.
Add an extra layer to security by implementing Multi-factor Authentication (MFA). MFA does not just require a username and password, but something only the user possesses. A code sent via email or phone number, a fingerprint, or the answer to a question.
- Updating your systems is essential
Software developers update their programs regularly to fix security vulnerabilities. To improve your small business’s cybersecurity, ensure that all software is updated, including operating systems and applications.
- Secure your networks
Cybercriminals are attracted to unprotected networks. Use a firewall to protect your internet connection and encrypt information.
Make sure your Wi-Fi network is encrypted, secure and hidden. Set up your router to not broadcast your Wi-Fi network’s name (also known as SSID) in order to hide it.
If you or any of your employees need to access your network from a remote location, use a Virtual Private Network (VPN).
- Backup your data regularly
It is important to regularly backup your data. You can still access your data in the event of a hardware failure or a natural disaster. Automate backups so they are done regularly. Test them frequently to ensure that they’re still working.
Even for smaller businesses, implementing effective cyber security is not overwhelming. You can reduce your vulnerability to attacks by taking proactive measures. This will protect your business, your clients, and your partners.
