5 Essential Cybersecurity Tips For Small Business Owners
While devastating hacks on massive multinational corporations get the most media attention, the truth is California-based small businesses account for 15 percent of all of the state's data breaches. Since 60 percent of small businesses that endure a cyber attack go out of business six months later, founders need to make cybersecurity a mission-critical priority. Here are five cybersecurity tips that small business owners' can use to protect their companies.
Prevent Against Employee Error Data Breaches
The popular conception of a data breach involves a hacker remotely accessing company-sensitive data by using cutting-edge malware to overcome its cybersecurity programs. In reality, employee error has been one of the leading causes of data breaches. Mistakes like losing mobile devices containing sensitive company data, sending emails to the wrong recipients, and accidentally making internal data externally accessible can inflict irreparable damage on a small business's digital infrastructure and reputation. Regular cyber security training is crucial in protecting your business from employee error-related data breaches.
Make Regular Data Backups Company Policy
In the aftermath of a cyber attack, it's not uncommon for a company to find that hugely important internal data such as human resources files, financial documents and consumer information has become irretrievable. As not being able to access this information can lead to catastrophic supply-chain breakdowns, you should make regularly creating remote back ups of crucial data a company policy.
Invest In A High-Quality Cybersecurity Solution
As most small businesses don't have large cash reserves, it's understandable for owners to be wary about spending a lot of money on one single aspect of their business. However, skimping on a cybersecurity solution -- which at the bare minimum should include security software and IT support -- can have disastrous consequences. Not investing in a high-quality service security solution is as risky as not locking your doors at night.
Keep Your Systems Updated
Continuously striving to increase growth and profitability are essential to your company's long-term viability. The same goes for keeping your software up to date. A 2015 study found that 44 percent of data breaches committed in the previous year involved the exploitation of known software vulnerabilities. To keep your business from becoming part of that alarming statistic, make software update checks a standard practice.
Create A Cyberattack Response Plan
One of the most effective ways small business owners can protect their companies from cyber attacks is by creating a data breach response plan. It should include creating data breach protocols for IT to follow, assigning specific team members with post-attack responsibilities to maintain continuity of service and fulfill legal and regulatory requirements and a post-breach public relations strategy.
Unless otherwise stated, opinions expressed are those of the respective authors and not necessarily those of the sponsoring party, City National Bank (CNB). The information is provided without warranty and no recommendation or endorsement by CNB is intended or should be inferred unless specifically stated.
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