Many small to medium businesses overlook cyber security measures as they don’t feel like they’re likely to be targets compared to larger businesses. But it’s important to know this is not the case. As businesses digitise their operations, the risk of falling victim to cybercrime becomes a pressing concern regardless of how large or small your business is.
To help ensure your business stays safe online, we’ve put together some practical steps you can take to safeguard your SME from cyber threats.
Understanding cybersecurity risks
Before you can begin to give your defences a boost, it’s important that you understand the threats you face. Cybercriminals constantly adapt their tactics, making it imperative for SMEs to stay informed about the latest threats.
Take some time to familiarise yourself with common attacks, such as phishing, ransomware, and malware, to better anticipate and counter potential threats.
Educate your employees
One of the weakest links in any cybersecurity strategy is often people, so make sure that you train your employees to recognise and respond to potential threats. Conduct regular workshops on cybersecurity best practices, emphasising the importance of strong passwords, recognising phishing attempts, and understanding the potential consequences of downloading suspicious files.
Remember that cybersecurity training isn’t a one-time thing, you should host regular training as well as provide reactive training to new threats. It’s also a good idea to look at any cybersecurity threats that are of particular concern within your industry. This will of course vary depending on what you do.
Implement password policies
Passwords are the frontline defence against unauthorised access, so it’s very important to make sure they’re impossible to crack. Enforce strong password policies across your organisation and make it compulsory that they contain a mixture of letters, numbers, and symbols.
Regularly update passwords and consider implementing multi-factor authentication (MFA) to add an extra layer of security. It goes without saying (hopefully!) that you shouldn’t write passwords down and they shouldn’t be shared, ideally not even within the company.
Secure your network
A secure network is one of the basics to protecting your SME from cyber threats. Use firewalls and encryption protocols to safeguard your business data. Regularly update and patch all software and firmware to address vulnerabilities that could be exploited by cybercriminals.
If you don’t know how to do this, consider bringing in experts who can help you; we have more information about this further down the blog. Additionally, you may want to implement a Virtual Private Network (VPN) to secure data transmission over the internet.
Backup your data
Data loss due to cyber-attacks can be catastrophic for SMEs, this is why you need to ensure that you have a backup strategy to regularly store critical data in secure, offsite locations. This ensures that even if your systems are compromised, you can restore essential information and minimise downtime.
Invest in cybersecurity software
Using dedicated cybersecurity software is an integral part of protecting your SME. Invest in reputable antivirus and anti-malware solutions to detect and neutralise potential threats that may be lurking in the background. Make sure that you regularly update these tools too as updates will help you to stay ahead of evolving cyber threats.
Restrict access and permissions
This is a common sense one but worth a mention. Only grant access to sensitive information to employees who require it for their roles, and regularly review and update permissions as necessary. This minimises the risk of unauthorised access and reduces the potential impact of a security breach.
Monitor and respond
Implementing preventive measures is obviously important, but that doesn’t mean you can then forget about cybersecurity altogether. A solid cybersecurity strategy involves constant monitoring. You can use specialised tools to help you monitor network activity, detect anomalies, and respond promptly to potential security incidents.
It’s also important to develop an incident response plan to guide your team in the event of a cybersecurity breach. No one wants to think about the worst-case scenario, but making sure you have a plan in place will help you respond faster and more effectively.
Regularly update security policies
As cyber threats evolve, so should your cybersecurity policies. Regularly review and update your security policies to address emerging threats and include lessons learned from any past incidents. Keep your employees informed about these updates and ensure ongoing compliance with the latest security protocols.
Bring in cybersecurity experts
Cybersecurity can be a bit overwhelming so if you’re not totally sure whether you’re protected, it’s definitely worth talking to/partnering with cybersecurity experts. They’ll be able to assess your SME’s vulnerabilities and develop a tailored cybersecurity strategy. These professionals can provide valuable insights, conduct penetration testing, and offer guidance on enhancing your overall cybersecurity.
If you have questions about any aspect of your finances, please get in touch with the Trinity team. We’d love to help!