Do you know cyberattacks cost more than $2.2 million to small businesses every year? What’s even more unfortunate is that a mere 14% of small businesses are actually ready to mitigate the risks of cyber threats.
While hackers and cyber-attackers target all kinds of businesses in every industry, small businesses have become their major targets today. One of the biggest reasons for this is that most of these businesses don’t have robust cybersecurity plans and resources like large corporations. Not only this, but many SMBs ignore their data security, leaving themselves vulnerable to data breaches and attacks.
To help you protect your business and keep it away from the clutches of cybercriminals, we are going to share our ultimate 10-step cybersecurity plan. Read on!
Step 1: Conduct a thorough risk assessment of your business
One of the first and most vital steps in a cybersecurity plan is to conduct a thorough risk assessment. This will help you identify possible issues and loopholes in your business’s online security.
Risk assessment also helps you analyse different types of company data and what you can do to protect it. There are various online resources that will help you conduct an online security risk assessment.
Step 2: Offer cybersecurity training to your employees
Your employees play a crucial role in maintaining the online security of your business. So, make sure to offer them advanced cybersecurity training, including how to avoid phishing scams, password management, safe data sharing methods, etc.
Step 3: Keep your software updated
A large number of data breaches happen due to outdated company software. Since outdated software lacks the latest security patches, cybercriminals attack these vulnerabilities and steal your data. So, always update your company’s software to the latest version to minimize the chances of data theft.
Step 4: Have strong password policies
The next step to protect your small business from cyber-attacks is implementing strong passwords in all your company devices and accounts. Make sure the passwords contain a unique combination of letters, numbers, and special characters. It should be difficult to guess or crack.
Further, implement policies that require your employees to create strong passwords for their company-related accounts and change them regularly.
Step 5: Make the most of antivirus and anti-malware software
Having top-notch antivirus and anti-malware software can offer another layer of security to your business devices. They help you identify malicious files and codes in your system and remove them effectively.
Step 6: Backup your business’s and client’s data regularly
Backing up your data will help you protect and retain all confidential information if something goes wrong. It also helps you recover from cyber-attacks quickly. Depending upon your business requirements, you can opt for full or partial data backup methods.
Sometimes, even after having robust cybersecurity practices in place, your data can still get stolen. To protect your business and clients from such unforeseen situations and minimise financial losses, consider getting cyber insurance coverage for your business. Click here to learn more about cyber insurance for small businesses.
Step 7: Leverage multi-factor authentication
Multi-factor authentication requires people to provide two or more forms of identification before accessing the system. This can include an answer to a unique question, fingerprints, or more. It makes it hard for cybercriminals to break into your business’s devices illegally.
Step 8: Hide your Wi-Fi network
Securing your Wi-Fi network should be another essential step in your cybersecurity plan. You can protect your network by setting up your router in such a way that it does not reveal your network’s name. Further, use a strong password to prevent any unauthorised person from accessing your network.
Step 9: Limit access to confidential data
Another excellent way to protect your business’s and customers’ sensitive data is by limiting access to it. Make sure only the necessary people can access confidential data, and even then, they should only access what’s required and nothing else.
Limiting access to sensitive data will reduce the likelihood of data theft and breaches significantly.
Step 10: Test your security measures at regular intervals
Along with implementing strong cybersecurity practices, make sure to test them regularly. In this way, you will be able to spot any issues and vulnerabilities and rectify them before it’s too late.
Conclusion
It is estimated that the cost of cybercrime will reach a whopping $10.5 trillion by 2025! This is a major cause for concern for businesses of all sizes, but especially the small ones.
So, to avoid becoming a victim of such cyber-attacks, always stay vigilant and implement the above-mentioned cybersecurity plan in your small business.
