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Short for malicious software, malware is the greatest cybersecurity threat to small businesses today. Malware refers to a wide variety of harmful software categories, including ransomware, spyware, Trojan horses and computer viruses. Attacks of this nature are becoming increasingly common globally and at disproportionately high rates for small businesses. According to Coveware, U.S. small and mid-sized companies were the target of approximately 82% of all ransomware attacks.
To infiltrate secure business systems or implement malware, most cyber criminals rely on owner or employee mistakes. Today, the most common social engineering techniques that threaten small business vitality include:
For immediate and ongoing protection against cyberattacks, here are four things every small business can do in 2024.
Knowing that hackers often rely on human error to breach secure data, educated employees are the most valuable asset of a cyber-secure business. From company owners to part-time staff, every member of a small business should be highly aware of common cyberattacks and ready to recognize and report potential threats or suspicious happenings.
To effectively raise cybersecurity awareness, all small business team members and partners should receive cybersecurity training upon hire as well as annual or semi-annual reviews of best practices. For ongoing awareness, you can test team members by sending fraudulent internal phishing emails and rewarding individuals for reporting scam attempts.
In the digital age, business data is the lifeblood of most modern organizations. Without cyberattack protection, confidential information about a company and its employees can be compromised.
To keep your small business data safe, best practices include:
To ensure ongoing data security, be very selective in what information is shared with whom. For instance, critical business data (like finances, passwords and intellectual property details) should only be provided to individuals who need to know it.
Password managers and other cybersecurity software can provide an easy way to keep company information safe against potential attacks. In 2024, small businesses taking cybersecurity precautions should consider the following forms of protection.
When finding the right software, there are two approaches: a single platform with a wide range of protection for total company coverage or several interconnected cybersecurity software for an à la carte approach. If you are struggling to know exactly where to start, cybersecurity consultancy services for small businesses can also help guide decision-making with your unique goals and budget in mind.
Small businesses with physical locations must implement sufficient onsite security measures to protect against trespassing, theft and other criminal activity that could comprise company data. This includes locks, safes, cameras, keycard access limits and even onsite security personnel to protect the information in an office, warehouse or another business property.
However, with the rise of employees working remotely, your company may have data scattered everywhere. If your business has remote workers, educate all individuals on the proper use, care and storage habits of phones, laptops, credit cards and any other asset that can be traced back to the company. To ensure those logging into company systems from around the world are permitted to do so, small businesses should also consider two-factor authentication to access company information from any remote device.
Malicious software, or malware, cyberattacks are the most notorious threat to small- and medium-sized businesses today. Entrepreneurs and small business owners should take measures to protect against ransomware with offline backups, good cyber hygiene and immediate reports of any suspicious activity. If compromised by ransomware, a small business can lose access to critical files, information or systems until a fee or “ransom” is paid.
When compared to large companies, small businesses are three times more likely to be the target of a cyberattack. While solopreneurs, small teams and even mid-size companies may find themselves stretched thin too to research and implement cybersecurity best practices, failing to do so can jeopardize every aspect of any business.
While budgeting is different for every organization, in general, a small business should spend between 6% to 16% of its total IT budget on cybersecurity tools and training. Of course, if your business is primarily online, cybersecurity spending should be heavily prioritized with the risk of losing crucial digital assets.
The post Small Business Cybersecurity Tips first appeared on Newsweek Vault.
2024-04-22T17:36:13Z dg43tfdfdgfd