Small and medium size businesses have particular challenges when it comes to cybersecurity solutions. Size doesn’t always equate to vulnerability but the fact that SMEs have lower budgets can be a major issue when it comes to protection.
Making the right choices when managing your cybersecurity needs, therefore, is important and the most recent statistic back this up.
In a 2018 survey by Ipsos Mori, two out of five small businesses identified a cybersecurity breach in the previous year. In 17% of these cases, the breach prevented the company from operating properly for at least a day. The more troubling statistic, however, is that only 58% of small businesses are likely to have sought out information or advice about cybersecurity.
Cybersecurity and GDPR
One major change your small business needs to understand is the General Data Protection Regulation. This was brought in last year and basically means that any business that holds data (which means the majority of companies or organisations) has a duty of care to protect it. That includes having the appropriate cybersecurity solutions in place, including what to do if there is a breach.
The problem is that hackers and malware developers generally unleash their nefarious activities indiscriminately and smaller, less protected businesses are a target. It’s not unusual for a hacker to specifically target a certain corporation or larger organisation but it’s rarer than the millions of attack attempts that take place on small and medium size businesses as a whole around the world.
How to Manage Your Cybersecurity Solutions
A data breach or cyberattack can happen to any business and the consequences is not just loss of customer information but damage to reputation. It can take a long time to recover. That’s why your business needs to have certain building blocks in place to help combat any potential online attack.
Here are the vital components that you need to have for your business to mitigate the risk of cyber-attack.
- Patch management: While they might be slightly annoying on older devices, patches are there to make sure your operating system is up to date and properly protected. You’d be amazed at the number of businesses that turn automatic updating off and leave their systems open to hacking and virus attacks.
- Regular back-ups: Another mistake that SMEs make is not backing up their data regularly. This is relatively easy to do nowadays and there’s really no excuse for not doing it. If your system crashes or your data is stolen or infected with malware, back-up allows you to recover everything and get back up and running.
- Data encryption: This should be standard for any business, whatever it’s size. It ensures that any information in transit is kept protected, particularly when it comes to financial data.
- Firewalls, anti-malware and anti-phishing tools: The tools that we use for our home computers are not necessarily the same that we should be using for a business that has a lot of data. Working with your IT supplier is vital to ensure that you have the appropriate software to suit your industry.
- Mobile device management: With so many of us using our own smartphones and tablets nowadays, your business needs to understand the risks that this involves. You should have a clear, set policy for staff who use BYOD and regularly make checks to ensure this is being complied with.
- Two factor authentication: This is where an additional authentication such as an SMS text is used above and beyond the standard password to ensure the identity of the individual looking to gain access to your data. It’s now the industry standard when it comes to logging in to accounts.
- Secure collaboration tools: Many SMEs make use of a range of collaborative tools including Office 365, Google Docs, Dropbox and the like. Mitigating the risks of using these tools is vital in maintaining the security of your company.
- Incident response: How you respond to an incident such as a data breach is almost as important as having the processes in place to prevent it happening. Especially since the introduction of GDPR, small businesses have a duty of a care and obligation to have the appropriate steps in place.
How to Review Your Cybersecurity Solutions
It can be pretty easy to pay less attention than you should to your IT and cybersecurity. As a small business, you probably have a lot more to worry about. Failure to spot issues or make sure your security is up to date can, however, have catastrophic consequences.
If you would like to review your current cybersecurity practices, contact the team at Cyan Solutions today to see how we can help.