Small business owners and solopreneurs mistakenly assume that hackers and cybercriminals only target large businesses and international enterprises.

According to a report, small businesses are more vulnerable to cybersecurity breaches because many of them don’t invest in the kind of systems needed in the digital age. And when these companies fall victim to ransomware or malware attacks, many have no choice but to pay thousands to cybercriminals because they don’t have any recourse.

How can small businesses protect their company, employees, and information? These are some best practices to follow:
 

1. Train Employees

The most important step isn’t purchasing sophisticated and expensive cybersecurity systems. It’s making sure that employees know the basic tenets of data privacy and protection. Human error accounts for 80% of all cybersecurity cases, according to a Harvard Business Review report. With damages resulting from cybersecurity amounting up to $10 trillion, that’s a potential $8 trillion on the line.

Phishing scams are the most common methods for cybercriminals to get their foot in the door of business security systems. Many people fall victim to fake emails or text messages that can lead to myriad security issues in the workplace.

Cybersecurity awareness training for employees should focus on the following:

• Strong passwords and multi-factor authentication
• Phishing attacks
• Secure mobile devices and work equipment, especially for those working from  home
• Social engineering attacks
• Immediate incident reporting

 

2. Employ & Update Antivirus Soware on All Devices and Cloud Storage

In 2022, malware attacks were pegged to have cost around $5.5 billion. Malware attacks are designed to target all devices and programs connected to the internet, which is why antivirus soware is more important than ever.

Companies with work-from-home or hybrid work arrangements are especially vulnerable because various devices are being connected to internal systems. Outside the office, employees may check their work emails on their phones, rendering their data vulnerable. In some cases, employees work in coffee shops or airports where hackers could intercept connection points through public WiFi.

Small businesses must provide all devices with the right soware to ensure security. What are the criteria for the best antivirus soware?

• Protection from all major threats (malware, scams, ransomware, etc.)
• Real-time detection and prevention
• Rapid infection removal
• Ability to secure devices and systems without compromising speed
• Easy to use
• Affordable

Regularly update your antivirus soware to ensure long-term protection for all work devices.
 

3. Back Up Files Regularly

Backing up work files is crucial for many reasons:

• In the event of cybersecurity issues, you can quickly recover files
• Lost files are easier to recover aer a hack
• Reduces risk of soware or hardware failure
• Maintain good device hygiene as protection against various cyber threats

Depending on how much data or files you maintain for our business, regularly backing up files may mean doing it daily, bi-weekly, weekly, or monthly. Don’t go more than a month without backing up files.

This may seem difficult for small businesses with limited time and resources to manage their documentation. However, it is a critical element of cybersecurity and should be a priority no matter the size and nature of your company. It is better to invest in a robust backup system and make it a habit to use it today than regret it later.
 

4. Limit Access to Hypersensitive Data

Limit access to certain business information depending on an employee’s position or department. By doing so, you can easily ensure accountability for emerging cybersecurity issues.

Furthermore, the fewer people with access to sensitive data, the lower the probability of human error leading to vulnerabilities and potential attacks.
 

5. Use Firewalls

A firewall is a network device that monitors the traffic that goes in and out of a certain system. It is the first line of defense for any device and is just as important as the other security structures outlined here. A robust firewall system can block unwanted internet traffic and various types of malware.

Moreover, firewalls can detect business policy violations and login intrusion attempts. Organizations can easily deal with these suspicious activities without spending a lot of money.

It is important to ensure that your business firewall is updated regularly. Look into firmware and soware updates to maintain its efficacy in the long run.
 

Bottom Line

Small businesses need to have powerful cybersecurity and data protection systems complemented with knowledgeable employees to ensure safe and secure daily  operations. A secure business can ensure trustworthy interactions with customers and clients.

For business security and more knowledge about entrepreneurship, MWVBEs (Minority, Woman, and Veteran Business Enterprises) in the Fayetteville-Cumberland area can rely on the Fayetteville-Cumberland Regional Entrepreneur & Business Hub to improve their organization. It offers financial assistance, marketing support, specialized certifications, technology access, and many more.

Register here so you can be updated on our offered services and training courses.