Cybersecurity Basics for Small Businesses: What You Need to Know

Think cybercriminals only chase household names? Think again. Small businesses are easy marks—often running on basic defences and stretched IT budgets. In this guide, we’ll cut through the jargon to show you the core principles of good cyber hygiene, spotlight the most common threats, and walk you step-by-step through simple, effective measures you can put in place today to keep your business safe.

Fundamental Principles of Cybersecurity

1. Confidentiality, Integrity, and Availability (CIA):

Confidentiality: Ensures that sensitive information is accessed only by authorised individuals.
Integrity: Guarantees the accuracy and reliability of data.
Availability: Ensures that information is accessible to authorised users when needed.

2. Risk Management: Regularly identify potential threats and vulnerabilities, and implement measures to mitigate them.

3. Defence in Depth: Use multiple layers of security to protect your assets. If one layer fails, others provide backup protection.

Common Cyber Threats Faced by Small Businesses

1. Phishing Attacks: These attacks trick employees into providing sensitive information through deceptive emails. In 2021, small businesses experienced the highest rate of targeted malicious emails, with one in every 323 emails being malicious.

2. Ransomware: This type of malware encrypts data and demands a ransom for its release. In 2021, 82% of ransomware attacks targeted businesses with fewer than 1,000 employees.

3. Malware: Malicious software can infiltrate systems through email attachments or untrusted downloads. Malware is the most common type of cyberattack aimed at small businesses, accounting for 18% of all attacks.

4. Insider Threats: Employees can inadvertently cause security breaches through poor password practices or by falling victim to social engineering attacks. Small businesses experience 350% more social engineering attacks than larger enterprises.

Basic Steps for Improving Cybersecurity

1. Education, Education, Education: Regular training on recognising potential threats and safe practices is crucial.

2. Use Strong Passwords and Multi-Factor Authentication (MFA): Implementing MFA and encouraging the use of complex passwords can significantly reduce the risk of unauthorised access. It’s noteworthy that 80% of hacking incidents involve compromised credentials.

3. Keep Software Updated: Ensure all software is up to date with the latest security patches to avoid vulnerabilities.

4. Backup Your Data: Regularly back up your data to an offsite location or cloud service. This step is crucial as 75% of SMBs cannot operate if hit with ransomware (Small Business Trends).

5. Install Antivirus and Anti-Malware Software: These tools help detect and prevent various types of malware. Despite the growing focus on endpoint security, one in five small businesses still lacks endpoint protection.

6. Secure Your Wi-Fi Networks: Use strong encryption and hide your network name (SSID) to prevent unauthorised access.

7. Develop a Cybersecurity Policy: Create a clear policy outlining acceptable use, security protocols, and incident response procedures. Make sure all employees are familiar with it.

8. Limit Access to Sensitive Information: Only grant access to those who need it for their job. Regularly review and update access controls.

Conclusion

Cybersecurity is a vital component of running a small business in the digital age. By understanding the fundamental principles, recognising common threats, and implementing basic security measures, you can significantly reduce the risk of cyberattacks. Remember, the cost of a cyberattack can be far greater than the investment in robust cybersecurity measures.

If you need some advice on your current setup or would like to invest more in cybersecurity have a chat with our experts.

Stay safe!