Following on from the previous post, this post considers 5 more security tips that all small businesses should know. Before getting into these here are some statistics (source Cyber security breaches survey 2023):
- 32% of business recall breaches or attacks in 2022
- 59% of medium sized businesses
- 69% of larger businesses
- 24% of charities recall breaches or attacks in 2022
- 56% of charities with greater than £500000 income
- Estimated average of £1100 cost to business per breach
- Larger business this is around £4690
- The proportion of micro businesses saying cyber security is a high priority has decreased from 80% to 68% between the 2022 and 2023 surveys
- Qualitative evidence suggests that cyber security has dropped down the priority lists for these smaller organisations, relative to wider economic concerns like inflation and uncertainty.
These figures are based on the voluntary responses carried out in a survey of 2263 businesses. Regardless of how these may be interpreted, Cyber security is still an issue to be dealt with by businesses.
In the ever evolving landscape of cybersecurity threats, small businesses remain prime targets for cybercriminals seeking to exploit vulnerabilities and access sensitive data. To protect your business from potential threats, it’s crucial to implement robust cybersecurity measures. Here are five more essential cybersecurity tips every small business needs to know:
Enable Multi-Factor Authentication (MFA)
Multi-factor authentication adds an extra layer of security by requiring users to provide multiple forms of verification before accessing accounts or systems. Enable MFA for all critical accounts and applications, including email, cloud services, and financial accounts. This additional authentication step can significantly reduce the risk of unauthorised access, even if passwords are compromised.
Conduct Regular Security Audits and Assessments
Regular security audits and assessments are essential for identifying potential vulnerabilities and weaknesses in your cybersecurity defences. Schedule periodic assessments of your network, systems, and applications to identify security gaps and areas for improvement. Conduct penetration testing to simulate cyber attacks and evaluate the effectiveness of your security controls.
Establish a Cybersecurity Incident Response Plan
Despite your best efforts to prevent cyber attacks, it’s essential to have a plan in place to respond effectively in the event of a security breach. Establish a cybersecurity incident response plan that outlines roles and responsibilities, escalation procedures, and steps for containing and mitigating security incidents. Ensure that all employees are trained on their roles and responsibilities in the event of a security incident.
Encrypt Sensitive Data
Encrypting sensitive data adds an extra layer of protection by converting it into an unreadable format that can only be decrypted with the appropriate encryption key. Implement encryption for sensitive data at rest and in transit, including customer information, financial data, and intellectual property. Encrypt data stored on servers, databases, laptops, and removable storage devices to prevent unauthorized access in the event of a data breach.
Stay Informed and Educated
Cyber threats are constantly evolving, so it’s essential to stay informed and educated about the latest cybersecurity trends and best practices. Regularly monitor industry news, subscribe to cybersecurity blogs and newsletters, and participate in training and awareness programs to keep abreast of emerging threats and security technologies. Educate employees about common cyber threats, phishing scams, and social engineering tactics to empower them to recognise and respond to potential security risks.
By implementing these five additional cybersecurity tips, small businesses can strengthen their defences against cyber threats and protect their valuable assets and sensitive data. Remember, cybersecurity is an ongoing process, so stay vigilant, adapt to emerging threats, and prioritize the security of your business operations.
Protect your small business from cyber threats today! Implement these essential cybersecurity tips and take proactive steps to safeguard your sensitive data. For personalized cybersecurity solutions and expert guidance, contact AHB Training and Consultancy to schedule a consultation. Don’t wait until it’s too late – secure your business’s future with robust cybersecurity measures.
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