- SMBs are prime targets for cyberthreats because they often hold valuable data and lack robust cybersecurity defenses, making them vulnerable to phishing, ransomware, malware, insider threats, and password attacks.
- Cybersecurity precautions for SMBs include employee education, strong passwords with multi-factor authentication (MFA), regular software updates, data backups, firewalls, antivirus protection, access controls, and secure Wi-Fi networks.
- Proactive cybersecurity measures like monitoring for suspicious activity and having an incident response plan can help SMBs stay ahead of evolving cyberthreats and minimize potential damage.
No business is immune to cyberthreats, and small and medium-sized businesses (SMBs) are especially vulnerable. While many SMB owners assume that cybercriminals only target large corporations, the reality is quite different. Hackers frequently set their sights on smaller organizations because they often lack the robust cybersecurity defenses that bigger companies have. With that in mind, it’s best for SMB owners—like you—to be both aware and cautious when it comes to cybersecurity.
Why SMBs Are Prime Targets for Cyberthreats
You might wonder, why would a hacker be interested in a smaller business? SMBs often hold valuable data, such as customer information, credit card numbers, and proprietary business details, making them prime targets. Plus, hackers know that SMBs may not have the same budget or resources dedicated to cybersecurity, leaving gaps that can be exploited.
Cyberbreaches by cyberhackers not only compromise sensitive information but can also lead to significant financial loss, reputational damage, and even legal repercussions. This makes cybersecurity a necessary part of doing business, regardless of your company’s size.
Common Cybersecurity Threats SMBs Face
When it comes to the most common cybersecurity threats businesses face, the following come to mind:
- Phishing Attacks: Phishing is one of the most common tactics used by cybercriminals. They trick employees into revealing sensitive information through fraudulent emails or links that look legitimate. With the new addition of AI to phishing attacks, these threats are becoming increasingly difficult to detect by traditional detection methods. Customized and advanced AI-enabled cybersecurity solutions are now required.
- Ransomware: Ransomware attacks lock your systems or data until you pay a ransom. This type of attack has been on the rise, especially targeting businesses that may not have data backups in place.
- Malware: Malware is software designed to damage or infiltrate a computer system without consent. Once installed, it can steal data, monitor user activity, or disable systems entirely.
- Insider Threats: Not all cybersecurity threats come from the outside. Employees, whether intentionally or accidentally, can create vulnerabilities by mismanaging data or falling victim to scams.
- Password Attacks: Weak passwords are an easy target for cybercriminals. Brute force attacks, where hackers try countless combinations of usernames and passwords, are still a popular tactic for breaking into business accounts.
The Best Cybersecurity Precautions for SMBs
With such threats in mind, keep your business safe by taking these precautions:
Educate Your Employees
Human error is one of the leading causes of data breaches. Because of this, it’s best to invest in cybersecurity awareness training for all employees, regardless of their role. Staff should be able to recognize phishing emails, avoid clicking on suspicious links, and practice safe internet browsing habits. Periodic training sessions and simulated phishing tests can help keep security awareness top of mind.
Use Strong Passwords and Enable Multi-Factor Authentication (MFA)
Simple or reused passwords are easy for cybercriminals to crack. Require your employees to use strong, unique passwords for each of their accounts. Passwords should include a mix of letters, numbers, and symbols, and avoid easily guessed combinations like “123456” or “password.”
In addition to strong passwords, implement multi-factor authentication (MFA) wherever possible. MFA adds an extra layer of security by requiring two or more verification steps before granting access, making it much harder for attackers to break into systems, even if they have a password.
Regularly Update Software and Systems
Hackers often exploit vulnerabilities in outdated software to gain access to business systems. SMBs should make sure that all software, including operating systems, firewalls, and antivirus programs, is updated regularly. Setting up automatic updates for critical systems keeps you protected against the latest known threats without having to remember to manually install patches.
Implement Data Backups
One of the best defenses against ransomware and other data loss incidents is regular data backups. Store backups in multiple locations, including a secure off-site or cloud environment, and make sure that they’re encrypted. Regularly test your backups to check that, in the event of a cyberattack, you can quickly restore your systems without having to pay a ransom or experience extended downtime.
Utilize a Firewall and Antivirus Protection
Firewalls are your first line of defense in monitoring and filtering incoming and outgoing traffic. Make sure that your firewall is properly configured and regularly updated. In addition, invest in reliable antivirus software that can scan for and remove malicious software, protecting your systems from malware, spyware, and viruses.
Limit Access to Sensitive Information
Not every employee needs access to all of your business data. Limiting access to sensitive information based on an employee’s role can reduce the risk of insider threats or accidental data breaches. Use role-based access control (RBAC) so that only authorized personnel can view, edit, or share sensitive data.
Secure Your Wi-Fi Network
Your company’s Wi-Fi network should always be password protected. Check that the password is complex and regularly updated. If possible, use a separate network for guests or non-essential devices, such as smart TVs or personal employee devices, to avoid exposing your primary business network to vulnerabilities.
Monitor for Suspicious Activity
Keep an eye on your systems for any unusual behavior. Intrusion detection systems (IDS) and intrusion prevention systems (IPS) can help monitor network traffic and alert you to potential threats. It’s also a good idea to log and review system access to make sure that no unauthorized users are trying to infiltrate your network.
Create an Incident Response Plan
No matter how many precautions you take, there’s always the possibility of a cyberattack. Having a plan in place can help you respond quickly and effectively. An incident response plan should include steps for identifying a breach, containing the threat, eradicating it, and recovering data. Assign roles to team members so everyone knows their responsibility in the event of an attack.
Keeping Cybersecurity Simple
Cybersecurity can feel overwhelming for SMBs, but it doesn’t have to be. Start with the basics—strong passwords, regular software updates, employee education—and build from there. A consistent, layered approach to security can provide strong protection without requiring a huge investment.
As cyberthreats continue to evolve, it’s best to stay proactive as well as watchful. Hackers aren’t going anywhere, but with the right precautions, your business can stay one step ahead. Keep your business—and its data—safe by being proactive and thorough in your business cybersecurity practices.
For SMBs, cybersecurity is no longer optional—it’s a necessary part of running a modern business. Luckily, our cybersecurity and IT experts at CMIT Solutions of North Pittsburgh can help keep your business safe. Contact us today to get started, and to learn more about our carefully-tailored services!
