How You Can Bring Security to Your SMB

Small businesses are an essential part of any economy. They play a vital role in creating jobs, driving innovation, and spurring economic growth. However, as these businesses continue to grow and evolve, they are becoming increasingly vulnerable to cyber threats. Cybersecurity is no longer just a concern for large corporations; it is now a critical issue for small businesses as well. In this blog, we will discuss why cybersecurity is important for small businesses and what steps they can take to protect themselves.

First, facts!

Small businesses are just as likely as larger businesses to be targeted by cybercriminals. In fact, according to a recent report*, 28% of cyber attacks target small businesses. This is because small businesses often have weaker cybersecurity defenses and are seen as an easy target. Hackers are aware that small businesses may not have the resources to invest in high-end cybersecurity measures, making them more vulnerable to attacks.

More Facts!

The consequences of a cyber attack can be devastating for a small business. Small businesses often lack the resources to recover from a cyber attack. The cost of a data breach can be significant, including lost revenue, reputational damage, and legal fees. A small business may also lose valuable customer data, which can result in a loss of trust and a loss of customers.
Finally, small businesses may also be subject to compliance regulations that require them to protect sensitive data. For example, the Health Insurance Portability and Accountability Act (HIPAA) requires healthcare providers to protect patient data. Failure to comply with these regulations can result in fines and legal action.
So… what can small businesses do to protect themselves? Believe it or not, by implementing a series of low cost (or even free) measures, you can reduce your inherent risk by up to 80%.

Here are a few tips:

Train employees on cybersecurity best practices.

Employees are often the first line in a company's cybersecurity defenses. It is essential to provide regular training to ensure that employees are aware of the latest threats and know how to respond to them.

Implement basic cybersecurity measures

This includes using strong passwords, installing antivirus software, regularly updating equipment and software, and regularly backing up critical or sensitive data.

Use two-factor authentication.

Two-factor authentication adds an extra layer of security by requiring users to provide two forms of identification before accessing a system. Many softwares in your personal life already support, or enforce, this (e.g. google/gmail, banks, etc). When introducing new Cloud based softwares to your business, ensure these settings are enabled and users are instructed to use them.

Maintain an inventory of assets

Know what systems you have, where they are, and who has access (easier than it sounds). Even a manually updated excel spreadsheet is better than nothing

Secure your data

Know what data you have, and where it is. Implement safeguards such as encryption and role based access controls to protect your critical data from unauthorized access. Most modern storage mechanisms support this out of the box. Designate approved storage locations for sensitive data, then enforce this through training, awareness and regular audits.

Secure configurations of your assets.

There are many free resources available that can help you reduce the risk associated with your systems. By removing uneeded services or applications, you remove components that can be used to cause harm to your business.

CIS is a personal favorite, as well as industry recognized provider. They provide secure baseline configuration that can be applied locally on each device, or through a central mgmt service (Intune, AD, Jamf) if you happen to have these available.

Work with us

We at Gravitas Security can help small businesses identify vulnerabilities and implement appropriate security measures such as the ones listed above.

Small businesses must take cybersecurity seriously. Cyber threats are a real and growing concern for all businesses, and the consequences of a cyber attack can be devastating. By implementing basic cybersecurity measures, training employees, and working with a cybersecurity professional, small businesses can protect themselves and their customers from cyber threats.

* https://www.verizon.com/about/news/verizon-2021-data-breach-investigations-report