The threat of cybercrime is growing steadily, with hackers striking at a rate of every 39 seconds, according to a Clark School study at the University of Maryland. The problem is predicted to get worse in the years ahead, with global cybercrime costs forecast to increase by 15% annually until 2025, when they are expected to total a staggering $10.5 trillion per year. Small businesses, which frequently lack the high levels of cybersecurity infrastructure used by larger enterprises, are particularly vulnerable to cyberattacks. To safeguard against digital threats, it’s essential for small businesses to invest in cybersecurity infrastructure and adhere to best practices.
Here are some practical measures that small businesses can take to protect their systems and data from cyber threats:
1. Train employees on cybersecurity best practices: Ensuring that all staff members understand the importance of cybersecurity is vital, as it only takes one data leak to put the entire business at risk. Regular cybersecurity training sessions can help employees identify phishing scams, avoid opening or downloading files from unknown senders, and always log out of accounts and devices when finished with work.
2. Use strong passwords: Strong passwords are an essential element of any cybersecurity strategy. A password considered to be robust should be at least eight characters long, and consist of upper and lower case letters, numbers, and symbols. Each account should have a unique password, and a password manager like LastPass or 1Password can help users keep track of them. Periodically changing passwords can also make them harder to crack.
3. Enable multi-factor authentication (MFA): To make it even harder for hackers to access sensitive information, consider enabling multi-factor authentication (MFA), which requires a second form of identification beyond a password to log into an account. This could be a temporary code sent to a user’s phone, a fingerprint, an eye scan, or a voice prompt.
4. Limit user access: Most systems and software allow user access to be limited, providing control over the amount of sensitive data each employee can view. Authorizing only a minimal amount of access to business data and providing it only to those who require it for their roles is preferable.
5. Back up data to the cloud: Another way to increase cybersecurity is to back up data to the cloud. This means that if data is lost, damaged, or stolen, it can be recovered. Scheduling regular backups and storing them in multiple locations can maximize the protection provided.
6. Secure networks: Networks are particularly vulnerable to cyber threats. Ensuring that virtual private networks (VPNs) are used, particularly for remote workers, and that end-to-end encryption is employed when sharing files or sending messages is advisable. Password-protecting access to Wi-Fi routers and avoiding working on unprotected public Wi-Fi networks are also good practices. Installing a firewall helps monitor and control data movement in and out of a network.
7. Invest in antivirus and anti-malware software: Investing in antivirus and anti-malware software can enhance a company’s cybersecurity posture. Antivirus software protects against harmful programs aiming to spread and gain access to computers and networks like a disease. Anti-malware software helps protect against a broader set of cyber threats, including ransomware.
By following these tips, small businesses can minimize the risk of cyberattacks, detect them sooner, react to them faster, and contain their impact, ensuring the continuity of their operations.
