Cybersecurity Tips for Small Businesses: Understanding the Basics

Cyber ​​threats are not only a problem for large corporations and governments; small businesses can also be targeted. Research shows that 22% of small businesses have been victims of cyberattacks. According to the latest data, approximately 11% of these occurred in the past year.

It is important to protect your business from cyberattacks, but the fact is that some business leaders do not know how to do this. This article will help small business owners navigate the world of cyber threats.

What is at Risk?

Cybercriminals are interested in your money, your data, and your IT equipment. If a hacker gains access to your corporate network, he can use whatever he finds on it to damage the company, for example:

• Customer Lists
• Customer Credit Card Information
• Bank Details of Your Company
• Your Pricing Policy
• Product Design
• Expansion Plans
• Manufacturing Processes

These attacks aren't just your company at risk. Hackers can use their access to your network as a stepping stone to gain access to the networks of other companies in which you are part of the supply chain.

What Can Happen as a Result of an Attack?

A cyberattack can have a significant impact on your business. This is, of course, the most damaging outcome of an attack, but your business may have other consequences, for example:

• Financial Losses From the Theft of Banking Information
• Financial Losses From a Company Shutdown
• High Costs of Rebuilding Your Network
• Reputational Damage After Notifying Customers That Their Information Has Been Compromised

What Can You Do to Protect Your Business From Cyber Threats?

Small businesses can feel helpless to counter cyber attacks. And yet, you can take steps to protect your company. Here's what you need to do first.

Train Your Employees

Employees can make your business vulnerable to attacks. Research shows that half of the data breaches are caused by employees who intentionally or unintentionally give cybercriminals access to your networks.

There are many scenarios for attacks involving employees. For example, an employee lost his work tablet, leaked his credentials, or opened a fraudulent email that sent a virus onto the network.

To protect yourself from threats from the inside, provide cybersecurity training to your employees. Teach them how they should act if they receive a suspicious email, for example.

Perform a Risk Assessment

Assess the potential risks that could compromise the security of your company's networks, systems, and information. Identifying and analyzing potential threats will help you develop a plan to address security gaps.

As part of your risk assessment activities, examine where and how your data is stored and who has access to it. Determine who might want to access the data and how they might try to do so. Determine the risk levels of possible events and how security breaches could potentially affect the company's operations.

Once you have completed your analysis and identified threats, use the information you gain to develop or improve your security strategy. Review and revise your security strategy at regular intervals, and after making any significant changes to the storage and use of information. This will help you better protect your data.

Deploy Security Software

You need reliable enterprise antivirus software that can protect all of your devices from viruses, spyware, ransomware, and phishing. Make sure that the software you use not only provides protection but also provides technology that, if necessary, cleans computers and returns them to their state before infection.

Update Your Software

The software you use for your company must be up to date. Any program is regularly updated in order to increase protection or add patches that close coding loopholes through which hackers can enter the network.

Back-Up Your Files Regularly

Does your company back up files? In the event of a cyberattack, data can be compromised or deleted. If this happens, will your business work? Given the amount of data that can be stored on laptops and mobile phones, most companies simply won't be able to function.

To prevent this, use a backup program that automatically copies your files to the repository. In the event of an attack, you can restore all your files from backups. Choose a program that allows you to create backups on a schedule or automatically so you don't have to constantly remember this. Also, store your backups on offline media to prevent attackers from encrypting them or making them inaccessible if your system has been attacked by ransomware.