In today’s digital age, cybersecurity is not merely an option; it’s a necessity. Cyberattacks, costing billions of dollars annually, pose a significant threat to individuals and organizations alike. Small businesses, in particular, are attractive targets for cybercriminals due to their valuable data and often limited security infrastructure.

In this article, we will explore why cybersecurity is an important consideration for every business, and we’ll share several practical steps to protect your organization.

The Vulnerability of Small Businesses

Small businesses often operate with limited resources. Unlike larger corporations with robust IT infrastructures and dedicated cybersecurity teams, most small businesses lack the financial means to invest in high-end security solutions. Consequently, they become easy picking for hackers seeking valuable data.

For example, small businesses often rely on their own knowledge or generic, off-the-shelf security solutions. Many are unable to stay abreast of evolving cyber threats and the latest protective measures. Consequently, they might not recognize the signs of a phishing attempt, understand the importance of regular software updates, or implement strong password policies.

Additionally, time constraints pose another challenge. Small business owners wear multiple hats, leaving little room for them to focus on complex cybersecurity protocols. This shortage of attention to digital security, coupled with the absence of comprehensive training, creates an environment where bad actors can easily infiltrate and wreak havoc.

What are some of the most prevalent risks that businesses, small and large alike, are facing in today’s digital landscape?

Common Cybersecurity Threats

Understanding common threats is essential to bolster your cybersecurity strategy. Here are some prevalent cyber threats to watch out for:

1. Malware

Malware, an umbrella term for malicious software, includes viruses and ransomware.

  • Viruses: These spread like diseases, gaining access to systems and causing significant damage. They can be found in malicious downloads, and on physical devices like USB flash drives.
  • Ransomware: This form of malware encrypts data and demands a ransom for decryption. It is often delivered through phishing emails.

2. Spyware

Spyware gathers information from a target and sends it to another entity without consent. While some spyware is legal and is used for targeted advertising, often spyware is created for malicious purposes, such as keyloggers used to steal passwords.

3. Phishing

Phishing relies on deceptive emails, instant messages, or websites to infect systems with malware or to fool the user into divulging sensitive information.

How can small businesses protect themselves without breaking the bank? Let’s dive into some essential practices to safeguard your organization.

Best Practices for Preventing Cyberattacks

1. Train Your Employees

Employees and their communication channels are prime targets for cyberattacks. At the same time, staff members who are security-savvy can be one of your best defenses against intrusion. Here are some crucial training topics:

  • Spotting Phishing Emails: Teach your employees to recognize and avoid suspicious emails, to check the destination before clicking a link, and other safe practices.
  • Good Internet Browsing Practices: Encourage safe online behavior, like avoiding risky websites.
  • Avoiding Suspicious Downloads: Stress the importance of downloading files only from trusted sources. You may even consider disallowing unauthorized application installs.
  • Enabling Authentication Tools: Promote the use of strong passwords and Multi-Factor Authentication (MFA).
  • Protecting Sensitive Information: Educate employees on safeguarding sensitive data related to vendors and customers.

2. Secure Your Networks

  • Encrypt Information: Safeguard your internet connection by encrypting data and using a firewall.
  • Hide Wi-Fi Networks: Ensure your Wi-Fi network is secure and the SSID is hidden from public view.
  • Use a VPN: If employees work remotely, establish a Virtual Private Network (VPN) for secure connections.

3. Use Antivirus Software and Keep Software Updated

  • Use Antivirus Software. Install antivirus software on all business computers and keep it regularly updated.
  • Keep all Software Updated: Ensure that all software, including operating systems and web browsers, receive automatic updates to patch security vulnerabilities.

4. Enable Multi-Factor Authentication

Multi-factor authentication (MFA) enhances security by requiring multiple forms of verification such as a password and a confirmation code sent to your personal device, or an electronic or physical token. Check if your vendors offer MFA for your accounts, especially financial and payroll services.

5. Use a Cloud-Based Collaboration Solution

Consider using a modern work solution, such as Microsoft 365, to host your organization’s data and applications, especially in hybrid work setups. It can help secure your data while providing accessibility both inside and outside the office. Such solutions offer greatly enhanced security with granular control and are very affordable.

6. Secure, Protect, and Back Up Sensitive Data

  • Secure Payment Processing: Work with trusted banks and use validated anti-fraud tools. Use a dedicated payment processing device, or alternatively, do not allow casual internet use on the computer that handles financial transactions.
  • Control Device Access: Since company-issued laptops and other mobile devices can potentially be stolen, be sure they are secured when unattended. You can also enable remote-wipe technology to ensure that, if stolen, those devices won’t leak sensitive company data. What is more, using strong passwords for user accounts, and only allowing administrative access to IT staff will further protect your data.
  • Regular Data Backups: Back up critical data to cloud storage on a regular basis.
  • Control Data Access: Monitor and regularly review access permissions in cloud storage repositories. Be sure users only have access to the resources needed to fulfill their responsibilities, and to remove access for departing employees.

Protect Your Organization with Experts You Can Trust

Cybersecurity is not an area to neglect. Implementing these best practices and staying informed about common threats will help protect your organization from potentially devastating cyberattacks.

However, many businesses find it challenging to fully implement even these suggestions. Deploying a modern work solution such as Microsoft 365, while user-friendly, can be an involved undertaking, especially if you have a number of employees and varying access restrictions.

Gryphon Consulting specializes in helping small businesses, including nonprofits, to bolster their security defenses and implement a safe hybrid work strategy without the large investment in IT staff and infrastructure.

Remember, investing in cybersecurity is an investment in the future of your business. Contact us today to learn how that investment will help your business continue to thrive.