The Importance of Cybersecurity for Small Businesses
- October 30, 2023
- 7:35 am
The Internet has opened doors of opportunities for many. It has proved immensely useful for new and small businesses in the same series. People are reaching new and larger audiences all across the globe in a fraction of a second. With computer-based tools and applications, the workload is reduced, and a smooth process cycle is maintained. Cybersecurity should be a part of any business plan, whether they want to use the cloud or email to keep up with their website. Digital information theft surpasses physical theft as the most common type of scam. Every business using the Internet is responsible for building an environment that promotes safety and enhances business and consumer confidence.
A piece of news rolling down in 2020 stated that big and renowned organizations like Twitter, Zoom, Nintendo, and EasyJet have been prey to cyber security attacks. Such news raises concern for small business owners about the safety measures they have established for their computer systems.
But does this show everything? And are they only going after big, well-known companies?
It is not so.
Even though big businesses get all the attention, small and medium-sized businesses are being hurt just as much. The Verizon Data Breach Investigations Report says big companies were responsible for up to 43% of all data leaks. A 2019 study by Keeper Security and the Ponemon Institute also found that 63% more small and medium-sized businesses had data breaches than the year before. In 2018 and 2017, this number was 58% and 54%, respectively.
CardBleed, a recent attack on Magecart, hurt more than 3000 shops. But again, it’s important to remember that this affected more than just the big, well-known stores. It affected stores in all kinds of businesses.
That means that just because these attacks aren’t making the news doesn’t mean data leaks can’t hurt small businesses.
Cybersecurity threats for small businesses
In reality, small businesses often make easy targets for hackers since they usually need more resources to protect themselves against every attack. They may feel that their small size requires the minimum level of protection. Small businesses are likely to spend less on security than multinational corporations do. Additionally, they may think, “It won’t happen to us” or “It only happens to large companies.”
Why are small businesses vulnerable :
- Many keep private customer data that could be used to steal data.
- They might keep the payment information of their users, which is a goldmine for hackers.
- They might handle financial activities, allowing hackers to steal information.
- Some people may own useful ideas that are worth more than customer data.
What are the Best Cybersecurity Practices?
As we now know, small businesses face various security threats. Do you know how to mitigate these threats?
Developing a strategy and a culture to protect your organization is the beginning. There are many tools available to help you stay safe. Still, your organization must develop a consistent attitude toward cybersecurity to make it work.
It’s not enough to do some drills, tick the boxes, and then forget about investing in cybersecurity. Everyone in the company needs to buy into a mindset focused on security from the top down.
The results of a breach could destroy any business. Because of this, cybersecurity needs to be a top concern from the start. Fearing doing something wrong shouldn’t stop your workers from following security rules. Instead, they should be wanted to do so.
Making cybersecurity a part of the company culture is an ongoing process that can be kept up with regular meetings, open discussions, and making it easy for workers to ask questions about security. Not just thinking about privacy when you’re not busy will help build and maintain a strong culture.
Building a strong cybersecurity strategy will take time, like any other business goal. Setting a plan over time is the best way to achieve your security goals.
The first step is to establish a control framework. Planning protection efforts will go more smoothly if you know who is responsible for what and how things work. This framework aims to help your business develop a long-term, planned approach to cybersecurity that guides its actions in the long run. It should include technical tools, checks, assessments, and rules to ensure that online shopping is safe.
In addition to reducing security risks, you can put controls in place to stop threats by keeping an eye on things with this framework in place. You need to have the right kind of control to keep your security plans aligned with your business goals and in line with the rules set by external authorities.
Your people are the last and most important step. Your security rules are only as strong as those who follow them daily. That’s why you need to spend time and money on security awareness training to keep your staff interested and up to date on all parts of cybersecurity.
More and more security breaches are caused by human error, so it’s important that teaching employees is ongoing and not just done once. Also, our Overview of Cybersecurity infographics can help you learn more about cybersecurity and bust some popular myths about it.
Tools to protect your business
Your strategy, culture, and people are essential to protect your business from security threats. But given today’s ingenuity, you must also invest in the latest technology to maintain security.
To give your business the best protection, you must take a multilayered security approach. Doing so can make it much harder for attackers to attack your systems.
These are some popular ways to keep your business safe:
- Web application firewall
- Content delivery network (CDN) to protect against distributed denial-of-service attacks
- Intrusion detection system
- Log manager system
- Vulnerability scanning assessment
- Weak password detection
- Security reporting dashboards
- Data breach monitoring
Despite this, even the largest companies (with the largest security budgets) are susceptible to data breaches, as we’ve seen. To promote a cybersecurity culture within your organization, it’s vital to implement cutting-edge tools while promoting a security culture. Your business will reap the greatest benefits and be protected if you take a holistic approach to cybersecurity.
(2b Innovation ) Data Breach Monitoring
One of the best ways to protect your customers’ data and keep your business’s image from getting harmed is to use a data breach monitoring tool. When someone breaks into your site, this tracking tool will let Vaimo and you know immediately so you can take the right steps. Talk to the (2 b Innovation ) Data Breach Monitoring team to find out how to add the tool to your site.