Cybersecurity awareness month and your small business

Since 2004, October has been recognized as Cybersecurity Awareness Month in the U.S. However, simply being aware isn’t enough; true cybersecurity means actively safeguarding your business’s critical data, devices, and identity.

There’s no one-size-fits-all solution for small business security, but there’s certainly a wrong approach: inaction. This common mistake includes believing your small business isn’t a target or deliberately overlooking known cyber risks and necessary safeguards. Such passivity inevitably leads to future problems.

Use strong passwords

Protecting your business online starts with strong account security, primarily through robust passwords and a clear password policy. Passwords should be at least 16 characters long, ideally longer, and include a mix of uppercase and lowercase letters, numbers, and special characters. It’s crucial to use unique passwords for each account, avoiding any reuse or slight variations, and to steer clear of easily searchable personal information like school names, children’s names, or favorite sports teams.

Managing these complex passwords can be challenging, which is where password managers become invaluable. They can generate unique, random, and strong passwords for every account and store them securely, significantly increasing your defense against cybercriminals.

Turn on multifactor authentication

Strong passwords are a good start, but they aren’t always enough to protect your online accounts. To enhance security, enable multi-factor authentication (MFA). MFA combines something you know (like your username and password) with something you have (such as a smartphone, USB key, or authenticator app) and something you are (like biometrics).

MFA adds an extra layer of protection, typically through a text message with a temporary passcode, a push notification, a USB key, a password authenticator app, or biometrics. For the strongest security, it’s highly recommended to use a USB key or another physical device as your second authentication step, as text message MFA is more susceptible to cyberattacks than other methods. You should enable MFA on every account whenever possible. At a minimum, prioritize enabling MFA for your email, password manager, financial, social media, and other business-critical accounts.

Recognize and report scams

Everyone in the workplace shares responsibility for cybersecurity. A crucial aspect of this is reporting phishing emails. It’s important to empower employees to report cybersecurity incidents, even if they have fallen victim to a scam. This proactive approach safeguards the business, as increased awareness reduces the likelihood of successful phishing attacks.

Update your software

Many devices that connect to the internet, including computers, smartphones, software, apps, modems, routers, IoT devices, and printers, can receive updates. These updates are crucial for bug fixes and addressing security vulnerabilities. It is vital for small businesses to ensure that updates are consistently applied to all their devices.

The importance of these updates is underscored by data from the Cybersecurity and Infrastructure Security Agency (CISA). In 2023, three of the top fifteen most commonly exploited vulnerabilities were identified in 2022 or earlier. Furthermore, sixteen of the next thirty-two commonly exploited vulnerabilities were also identified in 2022 or before, with one dating back to 2017. This highlights the critical role updates play in maintaining security.

Use logging on your systems

Small businesses may not prioritize logging devices and network activity when considering cybersecurity. However, these logs offer crucial information for identifying cyberattacks or data breaches. They can trigger alerts during an attack, assist investigators in understanding and mitigating the incident, and ultimately help determine if business data has been compromised.

Back up business data

Data backups are a cornerstone of cybersecurity for any small business. In the event of a data breach, system failure, or natural disaster, having data backups can mean the difference between a minor setback or catastrophic business interruption. It is important to not only have backups but to implement a comprehensive backup strategy that ensures data integrity and rapid recovery. The strategy should include: regular backup schedule, offsite or cloud storage, regular backup testing, and version control.

By meticulously implementing these practices, small businesses can significantly reduce their risk of data loss, minimize downtime following an incident, and ensure business continuity. Investing in a proper backup solution is not merely a technical requirement; it is a fundamental safeguard for the future of your business.

Encrypting your data

Data encryption is a crucial safeguard for small businesses, playing a pivotal role in preventing data exposure. It directly protects individual files on devices and data transmitted across your business network. Essentially, encryption encases data in a secure, protective “envelope,” making it unreadable to cybercriminals unless they can solve the complex puzzle of opening it. Whether the data is stored on a stolen or lost device or you’re signing into an online account accessing business critical files, encryption can help ensure that data cannot be read by others.

No one solution rules them all

This Cybersecurity Awareness Month, it’s vital for your small business to recognize that a singular solution isn’t enough to prevent, mitigate, or erase the impact of cyberattacks or data breaches. A multi-faceted approach is essential for robust protection, combining cybersecurity tools, policies, training and awareness, and the implementation of best practices.

Securing your small business is within your reach and more importantly your budget. You can start your cybersecurity journey for right around $500, Cybersecurity for Your Small Business – Starting at $500.