Cyber security best practices for small businesses

Posted 3 years ago

Given that we are living in a technological revolution, it’s easy to assume that our digital tools are immune to cyber threats. However, as our reliance on technology grows, so does the opportunity for cyber criminals to launch an attack.

In fact, our sister company Citation ISO conducted a recent survey and found that a staggering 75.7% of businesses feel increasingly vulnerable to cyber attacks.

With that said, cyber security has rightly risen up the agenda of employers and with the transition of numerous working practices to online platforms, understanding cyber security best practices has become essential for businesses.

Are you a small business owner? This blog will provide insight on how to best protect your business from a cyber attack. Read our latest article ‘What is Cyber Security?’ for more information.

What is a cyber attack?

A cyber attack is an unauthorised intrusion into a computer system, network, or device with the intention of causing harm or stealing valuable information. Essentially, it’s like someone breaking into your business’s digital infrastructure, which could lead to disruption, data loss, or financial damage.

Which industries are most at threat of a cyber attack?

According to a report by Hiscox, one small business in the UK is successfully hacked every 19 seconds. Any organisation that uses digital devices is at risk of a cyber attack, but the more technology an organisation uses, the greater the threat.

CDNetworks look at some of the most vulnerable industries to cyber-attacks and focus on healthcare, government agencies, energy, and higher education. However, the first area of concern they identify is small and medium-sized businesses.

What are the top cyber security threats faced by small businesses?

Here are some of the top cyber security threats faced by small businesses:

Phishing

These attacks occur when a cyber criminal impersonates a trusted contact and entices a user to download a malicious file or click a malicious link, or give them access to sensitive information or other credentials.

Malware

A term for malicious code, hackers use malware to gain access to networks, steal data, or delete data from a computer. Malware usually infects computers after being downloaded from an unsecure website or a spam email.

Ransomware

This malicious software is designed to encrypt company data, meaning that it cannot be accessed. Typically, cyber criminals will ask the victimised company to pay a ransom to decrypt the data.

Weak passwords

Using easily guessed passwords, or using the same passwords for multiple accounts, can cause a person’s accounts or data to become compromised.

Want to learn more? Read our article on the most common cyber security threats to look out for.

What is the impact of cyber attacks on small businesses?

The UK Cybercrime Statistics 2024 report by TwentyFour IT reveals that over 500,000 new cyber threats are discovered daily, with 81% of all UK businesses that suffer from a cyber security attack being small to medium-sized.

A security breach can do untold damage to any organisation. However, this concerning trend highlights the vulnerability faced by many SMBs, which typically lack the same level of security infrastructure as large businesses.

Some major consequences of a security breach include:

Revenue loss
Reputational damage
Loss of intellectual property
Data breaches/leaks
Legal fees & fines

To avoid these consequences, SMBs must ensure that all of their staff are aware of the major cyber security threats and equipped with the knowledge of how to mitigate them using cyber security best practices.

Cyber security best practices for small businesses

All organisations and their employees who use digital devices must have a fundamental understanding of cyber security best practices. Here are some of the best practices for cyber security that all small businesses should consider…

Have written cyber security policies

All employees must be on the same page when it comes to cyber security. By having all cyber security protocols documented in an accessible document, employees have no reason to be unfamiliar with your organisation’s plan to combat cyber threats.

Carry out risk assessments

When it comes to best practices for cyber security, conducting regular risk assessments is crucial. These assessments involve evaluating potential vulnerabilities and threats to identify areas where security measures can be strengthened, helping organisations proactively defend against cyber attacks.

Use password managers

With password managers, individuals can enhance security by creating, storing, and managing strong, unique passwords for various online accounts that are challenging for cyber criminals to compromise. These tools mitigate the risk of password reuse across multiple accounts, thereby reducing the potential impact of a data breach.

Use multi-factor identification

As an additional measure, multi-factor identification is a setting that can be used on several digital systems that require the user to provide credentials given from a separate device to the one being used to gain access. Using the multi-factor identification settings on most major network and email products is simple to do and provides an extra layer of protection.

Install anti-malware software

Ransomware and malware both require software to be installed on a person’s computer. Implementing anti-malware software is a vital component of cyber security best practices for most small businesses, as it serves to prevent the download of malicious software altogether.

Regular software updates

As part of best practices for cyber security, regularly updating software is key. These updates often include patches and fixes that address known vulnerabilities in the software or application, making it less susceptible to cyber-attacks. It’s also important to bear in mind that some software, such as a Wi-Fi router’s firmware, may need to be manually updated.

Backup your files

Regularly creating copies of important data and storing them in secure locations is another cyber security best practice to ensure that you can recover all of your files in case of data loss or a cyber attack. Choose a program that gives you the ability to schedule or automate the backup process so you don’t have to remember to do it for a reliable and seamless approach.

Secure Your Wi-Fi Networks

Incorporating robust security measures for your Wi-Fi networks is one of the most vital cyber security best practices for small businesses. By implementing strong encryption, regularly updating passwords, and enabling network firewalls, you can effectively safeguard your Wi-Fi networks against unauthorised access and potential cyber threats.

Train employees

Most cyber attacks are a result of human error, which highlights the importance of staff training. All members of staff who use a digital device must be given adequate training in cyber security best practices to ensure they understand their responsibilities and work towards legislative compliance.

Don’t forget to check out our Cyber Security Checklist too!

Online cyber security awareness training

We offer a range of online Cyber Security & GDPR Training courses that are designed to help organisations of any size work towards compliance, improve cyber security awareness, and protect their business from cyber threats or data breaches.

Some of our most popular courses in this bundle include:

You can claim a free, no-obligation trial for any of the courses today! Alternatively, request a bespoke quote for your organisation and a member of our team will get in touch to discuss your cyber security training needs.