Cybersecurity Tips
for Small Businesses
Small businesses now more than ever rely on the internet to connect with clients and complete transactions in this digital age. Online commerce is convenient, but it also increases the chance of cyberattacks and data breaches. According to Accenture Cybercrime Research, nearly 43% of cyberattacks target small businesses, but only 14% of SMEs surveyed are prepared to face this type of attack.
Cyber threats against small businesses are on the rise, especially during and after the pandemic Covid-19. Here are a few cyberattacks that small and medium enterprises might experience:
- Phishing: A type of cyberattack in which criminals send phoney emails or messages to their targets in an effort to coerce them into divulging personal information like usernames, passwords, or financial information. Due to the fact that cybercriminals are aware that small businesses might not have as much money to devote to cybersecurity, they frequently target them in phishing attacks.
- Ransomware: A form of malware that is able to encrypt the data of the victim and demands payment (ransom) in return for the decryption key. Ransomware attacks frequently target small businesses because they might lack the funds to invest in reliable backup and recovery systems.
- SQL Injection: An instance of a cyberattack which targets the databases of websites or web applications. Attackers can steal sensitive data, including customer information, login credentials, and payment card information, by injecting malicious SQL code into a website that is vulnerable.
- DDoS Attack: Distributed Denial of Service (DDoS) is an attack that involves saturating a website or web application with a large volume of traffic, which results in the site or application crashing or going offline. Small businesses may be the target of DDoS attacks in an effort to disrupt their operations or as a means of extortion.
- Malware: A type of software that is intended to harm a computer system by infiltrating it. Malware attacks may target small businesses and steal sensitive data, compromise their networks, or harm their computer systems.
These are just a few examples of the cyber threats that small businesses may face. It’s important for small business owners to take proactive steps to protect their online presence and invest in robust cybersecurity measures to prevent cyberattacks.
How to secure your online business
To protect your online business from cyberattacks that might ruin your company, here are some tips to help you secure your online small business:
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Use Strong Passwords
One of the easiest ways for cybercriminals to access your online accounts is through weak passwords. Make sure you and your staff use secure passwords that are a combination of letters, numbers, and symbols. To generate and store passwords safely, think about using a password manager.
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Keep your software up to date
Hackers frequently access your systems using flaws in out-of-date software. Maintain the most recent security patches on your website and other software.
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Use two-factor authentication
Two-factor authentication (2FA) adds an extra layer of security to your online accounts by requiring users to provide an additional form of authentication, such as a verification code sent to a mobile device or email address.
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Secure your website
If your company has a website, make sure it is safe by using a dependable host and installing an SSL certificate to encrypt sensitive data sent between your website and your customers. Moreover, use website protection such as DNS Filter or URL Filter to get more security and protection
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Educate your employees
Teach your staff the best practices for cybersecurity, including avoiding malicious links and emails, keeping passwords private, and being aware of social engineering techniques employed by cybercriminals.
Studies show that 95% of cybersecurity issues can be traced to human error. Therefore, it is essential for teaching basic skills such as using strong passwords, identifying phishing scams and understanding how data is gathered and how a digital identity is tracked online can dramatically improve the cybersecurity and the safety of a nation’s citizens.
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Backup your data
Backup your important data regularly to minimise the impact of a data breach or cyberattack. The backup should be done online or offline such as hard drive, USB stick, etc.
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Have a plan for dealing with a cyberattack
A cyberattack could still happen despite your best efforts. Make sure you have a plan in place for how you will handle a data breach, including notifying customers and regulatory authorities and regaining lost data.
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Ensure the security of your third-parties
Be aware when allowing other companies access to your systems, such as partners or suppliers (supply chain). Carefully check if their cybersecurity has the same standards as you. Don’t be afraid to double or triple check before granting access.
By implementing these cybersecurity best practices, you can help protect your small business from cyber threats and ensure the safety of your customers’ data.
Also read: What is Supply Chain Attack? Examples and Prevention
If you’re looking to improve your business’s cybersecurity to include third-party and supply chain, consider trying cybersecurity risk assessment from ArmourZero to get a clear understanding of your risks and prioritise your efforts to reduce those risks.
Written by:
Fanny Fajarianti (Performance Marketing). Experienced digital marketer in the information technology and services industry.
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