Cybersecurity Steps to Prevent the Demise of Your Small Business

Cybersecurity Steps to Prevent the Demise of Your Small Business

Antivirus software no longer provides the level of cybersecurity required to protect small businesses from a devastating data breach. Cyber-attacks have increased exponentially every year, and 61% of malicious data breaches hit small businesses. Among those targeted by cybercriminals, 60% of small businesses close their doors for good within six months of the attack. And, yet, 90% of these companies don’t have sufficient cyber protection for their business or their customer data. The following are more details about vulnerabilities plus how to plan for cybersecurity.

What Makes Small Businesses Susceptible to Cyber-Attacks?

Large-sized businesses tend to operate differently from small and mid-sized businesses (SMB) when it comes to data security. As a result of those differences, the vast majority of cyber-attacks target SMB. Small and medium-sized businesses often have the following in common, which opens them up to cybercrime:

  • Security measures are insufficient to protect against cybercriminals.
  • No trained personnel are on staff to handle cybersecurity.
  • Credit card numbers, confidential health information, and other protected data that’s valuable to hackers are held.
  • Files and other data are vulnerable to ransomware because a third-party service is not utilized for off-site backup.
  • There is an online connection to a larger company’s supply chain, which can be leveraged to break into the IT system.


How to Build a Cybersecurity Strategy

Keeping cyber criminals from hacking into your data begins with a plan. Just ahead are four steps to building a cybersecurity strategy for your small business.


1) Determine the Current Status of Cybersecurity

Call together your board of directors, members of your senior leadership team, and investors for an informal business audit. Find out the existing level of cybersecurity for the business. Questions to ask:

  • Is a qualified person currently in charge of cybersecurity?
  • Are there any cyber defenses already in place?
  • Is there a comprehensive, coordinated cybersecurity strategy?
  • If the current cybersecurity system is lacking, what are the most vulnerable areas?


2) Identify the Key Individual Responsible for Cybersecurity

Determine who in your small business should take responsibility for cybersecurity. In your search, include people within IT as well as those in marketing, operations, finance, and human relations. Bring your accountant and attorney into the conversation, as well. Establish a plan for increasing awareness about cybersecurity within each department and among various teams.


3) Prioritize Critical Assets

Identify the most valuable data within your company, such as customer information, intellectual property, and employee records. Determine the existing level of safety, accessibility, integrity, and confidentiality of the most critical assets.


4) Decide Which Cybersecurity Measures to Outsource

There aspects of your small business that can be handled internally and others that would be best to outsource to a third party, such as cybersecurity. Make data protection a priority for the benefit of your customers, employees, and business survival following a cyber-attack.


Contact Swift Systems for the Best in Cybersecurity

Cut IT costs while enjoying high-quality cybersecurity services from Swift Systems. Contact our team of experts today by filling out our Contact Form.

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