Cybersecurity for small businesses: Reviewing core concerns, best measures, and more!
Many small businesses are having a hard time understanding the relevance of cybersecurity. On the surface, it may seem that only big companies are at risk of being attacked by cybercriminals and hackers, but available data and reports indicate otherwise. Numerous studies, reports, and blogs, including one from SIA in association with Wall Street Journal, outline how small businesses are being targeted. Small businesses, especially new brands and growing startups, are probably at a greater risk. In this post, we are discussing more on cybersecurity and why small companies need to worry more.
Why does cybersecurity matter for small businesses?
Unlike big brands, which have massive budgets for cybersecurity, small businesses are restrained by resources. Many companies are still okay with the idea of just being compliant with cybersecurity requirements. In case a security incident occurs, or there is data theft, the consequences can be severe for small companies in particular. They do not have the resources to chase hackers, and damages extend beyond financial losses. Damage to reputation, cost of being blacklisted on Google, and other concerns loom large on these SMBs. It can take years in recovery, especially after a serious breach.
Hackers know these flaws, which is why they often target companies that are less likely to approach the case aggressively.
Reviewing best cybersecurity measures
- Get your employees trained. This is one of the first and foremost steps in cybersecurity. You want aware and responsible employees, who know about safe browsing practices, how to create strong passwords, how to use a password manager, and when to report an incident.
- Invest in network security. Besides placing all networked devices behind firewalls, it is also important to take other proactive measures. Solutions include network segmentation, using encryption where needed, and ensuring that each network, device and system is monitored 24×7.
- Consider taking backups of everything, especially to prevent damage caused by malware. For instance, in case of a ransomware attack, some data may get encrypted, and if regular backups are taken, systems can be restored sooner.
It is also important to have a cybersecurity plan in place. Ensure that there are predefined protocols on how to report an incident and how these incidents would be managed. What also matters is taking help from outsiders when required. This may mean hiring cybersecurity experts, or engaging the security community by opting for ethical hacking.
Do your homework now and ensure that your company is ready with a proactive cybersecurity policy.