The internet has allowed businesses of all sizes to reach new markets. But, it has made the biggest difference for small businesses. Not only does it help them reach new customers they wouldn't be able to reach otherwise, but it helped them thrive in the time of the Covid 19 pandemic. Especially, when a lot of physical shops had to close their doors. But, it has also introduced them to the new danger of cyberattacks. Thus, businesses should build cybersecurity strategies to prevent and deal with cyberattacks.
Most small businesses believe they won't become a victim of cyberattacks because of their size and smaller revenue. But, actually, they make an easier target for cybercriminals as they don't have sophisticated cybersecurity protocols. Some of them have no cybersecurity protocol at all or if they do it is extremely weak. Thus, making them easy and quick targets for cybercriminals.
This is why it is essential that small businesses take their head out of the sand. Start to implement cybersecurity strategies and tools like a browser fingerprinting or multi-level verification. These will help to protect your business against cyber attacks.
You need to always expect a breach and be prepared to deal with it. By testing your security protocols you can discover which areas are lacking and need improving in order to provide maximum protection. A good business emergency plan and cybersecurity strategies can make a big difference between continuing with normal business operations or risking your staff and resources in the event of an emergency.
Make sure your operating system, firewall, antivirus protection, and the rest of the software you use, is up to date. This can significantly reduce the risk of fraud. Most of the updates will provide a patch for an issue you weren't even aware of but which hackers could've used to access your business.
In order to protect your business, you can't rely on your gut feeling and hope for the best. Implement proper cybersecurity tools like browser fingerprinting, data enrichment, email, or social media lookup tools. These will allow you to stop cyberattacks before they can damage your business. These tools help you gather more information about your customers and recognize any discrepancies in order to discover who is actually a legitimate customer and who is a fraudster.
Passwords are your last line of defense between cybercriminals and your businesses. Most people often reuse their passwords or choose the ones that are easily guessed. This makes the job a lot easier for cybercriminals. By introducing a good password policy for your employees and customers you can prevent various types of cyberattacks from happening.
One of the biggest risks any business will face is the human element. You might be able to control technical components of your business updating them and monitoring any issues. However, employees are not that easy. Especially now in a time of pandemic when a lot of employees are working remotely thus, increasing the risks. Conduct regular training about cybersecurity strategies and establish basic security practices and policies. This will mean you are able to reduce the risk of your business becoming a victim of cyberattacks due to human error. From raising their awareness about phishing attacks to educating them about appropriate internet use. Or, even about the dangers of oversharing online, there is plenty your employees need to be aware of. It is your job as a business owner to educate them.
You should regularly backup any critical business data. By implementing this as one of your cybersecurity strategies, you reduce the financial impact on your business if a cyberattack happens. However, it also helps you stay in business during any other data emergency. The biggest impact of backing up data is when faced with ransomware attacks. After all, you won’t have to pay ransom for them to release your data when you already have it stored elsewhere.