Small business owners and employees might think they’re off the hook when it comes to cyberattacks. Less visibility and having fewer resources at stake can provide a false sense of security. However, small and medium-sized businesses are just as vulnerable as multinational corporations or conglomerates. In fact, cybercriminals often target smaller companies because of their lack of resources. Specifically, fewer IT and cybersecurity resources make small businesses easier marks.
The consequences of successful cyberattacks are also more impactful for a small business. Loss of financial resources, damaged reputations, and disruptions in operations can lead to permanent closures. That makes cybersecurity critical, but a small business owner may not have the means to hire a full-fledged cybersecurity team. Fortunately, there are some measures that can protect company, employee, and customer interests. Let’s discuss ways to improve your business’s protection against cyberattacks.
Use Network Equipment With AI-Driven Security Tools
While small businesses don’t usually install enterprise-grade Wi-Fi equipment, it doesn’t mean enterprise-level network security is out of reach. Network routers and Wi-Fi solutions for smaller companies have become more sophisticated thanks to artificial intelligence.
Some Wi-Fi equipment suppliers provide routers with smart monitoring tools and dashboards. These dashboards give small business owners more control over the security of their Wi-Fi networks. You can divide your network into different access levels for customers, employees, and managers. The built-in monitoring tools also help guard against cyberattacks, log attempted intrusions, and quarantine suspicious activities and devices.
Update All Software Applications and Operating Systems
Anyone who’s owned a computer or smartphone sees system updates come through every now and then. Sometimes your laptop or phone reboots unexpectedly. You see those updates installed while you’re trying to work. Although this can be annoying and disruptive to your routine, software updates are vital for cybersecurity. More often than not, system and software updates are installing security patches and fixing vulnerabilities.
Cybercriminals are constantly looking for security loopholes in programs and operating systems. Recently, a popular web browser developer released updates to fix seven different vulnerabilities. Four of those were identified as high-risk security issues, allowing cybercriminals to take control of a device. Checking for or automating software updates on all applications and devices reduces the chance of your systems becoming a target.
Implement Spam Filters
Turning on spam filters can significantly reduce the number of phishing and scam emails that make it to your inbox. These filters scan for keywords, suspicious email addresses, and questionable content. Spam filters often prevent employees from seeing phishing emails and accidentally clicking on malicious links or attachments.
Your team can also use spam filters to block individual senders or email addresses that might make it through. Some email programs let you flag emails based on whether the sender is internal or external to the organization. This feature helps alert employees to spoofed messages that might appear to be from a co-worker or manager.
Use Single Sign-On Solutions
Single sign-on (SSO) solutions let employees log in to different applications with the same usernames and passwords. With SSO, team members do not need to establish separate login names and passwords for various web-based accounts and apps. As a result, there are fewer passwords to remember and manage — and less temptation to write them down on sticky notes.
SSO helps increase your business’s cybersecurity measures because you can control or revoke access through a single set of credentials. When an employee leaves your organization, there is only one username and password to disable for all systems and applications. You don’t have to set employees’ permission levels for each app. Plus, there are fewer passwords that may become exposed to cybercriminals.
Enable Multifactor Authentication
The Cybersecurity and Infrastructure Security Agency states that multifactor authentication can reduce your chances of being hacked by 99%. Multifactor authentication puts up an additional obstacle for cybercriminals. They not only have to know or guess your password, they also need to supply another means of verification.
As noted, multifactor authentication requires a second step after someone enters a username and password. Team members can receive a unique code through a text message delivered to their phones, or they might have to enter a PIN. They could also scan their face or fingerprint. Multifactor authentication verifies that the person trying to gain access is legitimate. This stops cybercriminals from impersonating someone through a password.
Educate Employees and Implement Cybersecurity Policies
People tend to view technology as the source of cyberattacks and criminal activities. However, it’s often the users of technology who pose the greatest risks. Cybercriminals may exploit security vulnerabilities, but one of those is a lack of employee knowledge and understanding. If your team doesn’t know what phishing or social engineering tactics look like, they’re more likely to fall for them.
Employees may also use technology in ways that increase your business’s vulnerability. Connecting BYOD and personal mobile devices to the network and using personal USB drives on company computers are some examples. Implementing policies for these types of devices and security practices in general helps prevent malware or ransomware attacks. Educating employees about cybersecurity threats and how to respond will also help mitigate them.
Securing Your Business
Cybersecurity isn’t just for the big guys. Small businesses need to put up many of the same barriers larger corporations do. Luckily, you can implement effective cybersecurity practices with a smaller budget and fewer IT resources. These include installing Wi-Fi equipment with AI-driven security tools, implementing multifactor authentication, and educating employees about cyberthreats. Measures like these can help stop cybercriminals before they cause long-lasting damage.