Last year, nearly 42,000 online security incidents occurred globally, and about 43 percent of these targeted small businesses. This makes small businesses more prone to data breaches and cyber attacks compared to other entities. Such incidents can result in financial losses, stolen customer data, or compromised proprietary information. Therefore, it’s crucial to take steps to reduce your chances of being a cyber attack victim and to minimize the impact if one does occur.
Small businesses often lack the resources that large enterprises and government entities have for cybersecurity. You might not be able to afford a full-time cybersecurity specialist or install state-of-the-art software. However, protecting your business’s data doesn’t have to be complicated or expensive. Here are some simple actions you can take today to lower your company’s risk of falling prey to a cyber attack.
Change Your Passwords
Weak or stolen passwords account for about 81 percent of security breaches. A business using ‘Password123’ for every account is more vulnerable than one that uses complex, regularly changed passwords. So, what makes a strong password? The National Institute of Standards and Technology advises choosing a combination of words that are easy for you to remember but unique to you. Though it should be memorable to you, it must be hard for others to guess. It’s also good practice to include a mix of characters and to use different passwords for each account, especially for sensitive accounts like those for banks.
After setting strong passwords, continue to change them regularly. There could be breaches with your vendors or service providers that you’re unaware of, so changing passwords periodically can help keep your accounts secure. Moreover, many platforms offer two-factor authentication or additional security measures, such as security questions, fingerprint reading, or text alerts. Enable these features wherever possible to provide an extra layer of security beyond just passwords.
Update Your Software
All the software used on your business’s computers and devices is susceptible to cyber attacks. However, software providers constantly work on updates and patches to enhance security against hackers, viruses, and malware. Those frequent alerts to update your software are a part of this process.
Although these alerts can seem annoying, don’t ignore them. Follow through with the short process of updating your software and operating systems whenever patches are available. This usually involves just pressing a few buttons and restarting your device. Often, you won’t even notice major changes in functionality, but these updates make it harder for malicious entities to infiltrate your software programs.
Train Your Employees
If your business has employees, it’s essential they understand these cybersecurity practices as well. You can change passwords and update software all you want, but unless your team does the same, your business will remain vulnerable.
To safeguard your business comprehensively, hold a quick meeting or seminar to share these best practices with your staff. Provide clear instructions on how and when to change passwords and how to set up two-factor authentication for the programs and accounts you use. Sending reminders or alerts when it’s time to change passwords or update security procedures can be helpful too.
Explain the importance of regular software updates and establish policies or procedures for maintaining these updates. If you have team members dedicated to IT, they can manage this. If not, ensure the rest of your team knows how to handle updates on their devices and understands why it’s vital.
