Cyberattacks have always been a risk to businesses. But with an increase in technology, the rate of cybercrimes have also increased over the years. According to a report by the Cabinet Office, United Kingdom has reportedly lost £21 billion this year (a report by the Cabinet Office). Smaller businesses are an easy target for cybercriminals because they tend to have weak or almost no cybersecurity. But the concerning aspect of this whole situation is that the companies still have not realized the importance of a strong cybersecurity system.

Businesses in the world have been the target of cyberattacks, and these attacks have caused them a loss of finances, confidential data, and time. Due to the pandemic, the businesses that still have not developed a strong cybersecurity system are on the verge of being attacked more than ever.

This blog will cover the urgent need for cybersecurity for smaller businesses. It will also provide some precautions that one can take to avoid cyberattacks on their business.

• The smaller businesses do not have the finances to hire fully trained IT professionals to develop their cybersecurity systems. These businesses should opt for the IT companies that provide these services for a cheaper cost. They create a full cybersecurity system for the companies and provide a 24/7 service to them in a cyberattack.
• Another primary reason is that small businesses are not well equipped for defense against cyberattacks. They do not have an IT team or enough devices to combat a cyberattack, making them more vulnerable to cybercrimes.
• These businesses have not developed any system to back up their company’s data. Small businesses should use the cloud to prevent any data loss during these attacks.
• Responding to scam emails and calls has become one of the reasons for attacks. The employees should be aware of these scams to prevent any disaster.
• Smaller-scale businesses are easier targets because of the lack of security measures. 
• They are comparatively easy to attack.

Types of cybersecurity threats the smaller businesses face.

• Scam Emails

Cyberattacks often result just by clicking on a fake-link sent in a scam email or text message. These messages are beautiful for someone who is not aware of these scams. They tend to enter their sensitive personal information in the given web pages without authenticity verification; thus, they get cyber attacked.

• Passwords 

The people involved in cybercrimes are experts in encrypting user’s data through databases, including their passwords. Once they get their hands on the password, they can do unlimited damage. 

• Server attacks

Attacks are of different forms and by various cybercriminals. DOS attacks by overloading the system. As a result, it becomes impossible to respond to any of the service requests.

Another form of attack is on the databases to grab confidential information, and SQL does it.

Some like Drive-by, plant malicious codes in the user’s system to access their personal information.

• Man-in-the-middle attacks

Hackers attack using scam emails and phishing. Fake links open up into fake web pages where their sensitive information is quickly taken.

• Social engineering attacks

Cyber attacks involve some human interaction to get access to their confidential information, including phishing and spear-phishing. Check our social engineering guidelines to get more information.

Cybersecurity tips that you can employ to protect your small business from these attacks.

• Assess risks and vulnerabilities

The first thing you need to do for your small business cybersecurity is to evaluate its security measures by consulting an IT expert.

• Have a plan for devices

Make sure to add every device used for work purposes, including mobile phones in the cybersecurity system that you are developing for your business.

• Educate your staff

It is essential to educate your staff members on the potential cybersecurity threats and cybersecurity policies to do your business as protected as possible. It is also crucial to educate them about the regular advancements taking place in them.

• Use strong passwords

It’s prudent to make all passwords strong and unique. Additionally, use different passwords for different accounts. Make using strong random passwords containing letters, numbers, symbols, and special characters mandatory. 

The two-factor authentication tool provides one of the most critical defense systems. It is essential to use this tool to develop a good cybersecurity system for your small business to protect it against cybercrimes. More and more apps and other web businesses are using this tool for security purposes.

• Update your software and systems regularly.

Make sure that you are updating your device, software, and apps regularly. Every update is advanced in its cybersecurity as well, which protects your device against cyberattacks.

• Backup all your data

Plan your backup before-hand. Keep check of your backups. Always have a plan to recover in case the data is lost.

Summary

Cybersecurity will always be at risk. You need to educate yourself about these threats and take the necessary precautions to protect your small business. Also, you can use our solutions to strengthen your cybersecurity system. You can also follow our tips and guidelines to prevent cyberattacks on your business.

Check our previous blog about New ways cybercriminals using during the COVID-19