Cybersecurity for small businesses: a comprehensive guide

Cover photo from Dan Nelson on Unsplash

Reading time: 7 mins

Imagine arriving at your small business one morning, only to find yourself locked out of your computer systems by a cyber attacker. Unfortunately, this scenario is increasingly common. And it’s not only big companies we’re talking about. According to strongDM, 46% of cyber breaches affect small and medium-sized businesses (SMEs), meaning cybersecurity risks should be a crucial concern for these companies.  

Understanding cybersecurity

What is cybersecurity?

Cybersecurity refers to the practice of protecting systems, networks, and data from digital attacks. These attacks are often aimed at accessing, changing, or destroying sensitive information, extorting money from users, or interrupting normal business processes.

Common cybersecurity threats for SMEs

Small businesses are particularly vulnerable to several types of cyber threats, including:

• Phishing: Deceptive messages (emails, texts, WhatsApp messages) designed to trick recipients into revealing personal information. They might look like an invoice for something you never bought, or a notification that your account has been locked.

Warning signs: These used to be easy to spot but are becoming increasingly sophisticated. Look out for hidden sender email addresses, or texts supposedly originating from big companies but sent from a personal phone number.  

• Ransomware: Malicious software that encrypts data, demanding payment for its release. They may be disguised as law enforcement agencies (they’re not).

• Malware: Software intended to damage or disable computers. You may download a fake software update, for example – malware can even download itself if you visit a risky website or receive a malicious email attachment.  

Warnings signs: Common signs that indicate malware on your device are slow performance, device crashing or freezing, or your browser homepage changing without your knowledge.

• DDoS attacks: Overwhelming a network with traffic, causing it to crash. The network can’t handle the high volume of traffic and stops functioning, allowing hackers to take advantage of the downtime.  

Impact on small businesses

Cyberattacks can be devastating for small businesses, as they can cause financial losses, damage to reputation, and even legal repercussions. Often, small businesses lack the resources to recover from such incidents – in fact, 60% of SMEs go out of business after being hacked. This makes prevention and preparedness even more essential.

Assessing your cybersecurity needs step-by-step

For that reason, it makes sense to do a detailed cybersecurity audit. This makes it clearer for you to see where there are vulnerabilities that you should address. Here’s a few steps to take:

Risk assessment

The first step in bolstering cybersecurity is conducting a risk assessment. Identify potential threats to your business, the likelihood of these threats, and the potential impact on your operations.

Identify critical assets

Determine what needs the most protection. This could include customer data, financial records, or sensitive employee information like bank account details.

Evaluate current security measures

Review your existing security measures to identify any gaps. Are your systems up to date? Do you have any form of protection against malware? Don’t take any liberties – it’s better to be harsh on yourself and make sure everything is watertight.  

Implementing basic cybersecurity measures

Now you know where there’s room for improvement, it’s time to implement some simple cybersecurity measures that should be the norm in any company. For example:

Strong passwords

Passwords are the first line of defence against unauthorised access. Ensure that all employees use strong, unique passwords and consider implementing a password management tool to keep track of them, like 1Password. Then you don’t have to wrack your brain trying to remember whether it was your mother’s maiden name, your birthdate or the name of your first pet that you chose as your password.

Software updates

Regularly updating software and systems is vital. Updates often include patches for security vulnerabilities that cybercriminals could exploit. Don’t leave that Google Chrome update hanging in your notifications for two months. It’s there for a reason.

Firewalls and antivirus

Firewalls and antivirus software provide a basic level of protection by blocking malicious traffic and detecting harmful software. Ensure these are installed and kept up to date. Don’t skip this step – this is cybersecurity 101.  

Data backup

Regularly back up your data to a secure location. This ensures that you can recover your information in the event of a cyberattack or other data loss incidents. Being targeted by a cyberattack is potentially unavoidable, but preventing the loss of all your data is in your hands.

Advanced cybersecurity practices

You’ve got the basics down – nice one. Sorry to tell you, that was the bare minimum. Here are some other points you should make sure to address:

Employee training

Employees are often the weakest link in cybersecurity, through no real fault of their own. It’s up to you to provide regular training to help them recognise and respond to threats such as phishing emails and suspicious attachments.

Multi-factor authentication (MFA)

Implementing MFA adds an extra layer of security by requiring two or more forms of verification to access accounts – these are the texts you get with a code when you log into your account.  

Encryption

Encryption protects sensitive data by making it unreadable to unauthorised users. Ensure that all sensitive information is encrypted. You can also turn device encryption on in your system settings via FileVault (Apple) or BitLocker (Windows).

Network security

Secure your Wi-Fi networks and use Virtual Private Networks (VPNs) for remote access. A VPN encrypts data and hides your IP address (a string of characters that identifies your device when using the internet). This helps protect your data from being intercepted by cybercriminals.

Cybersecurity policies and best practices

Going forwards, it’s best to have continual cybersecurity measures in place you can refer to. These might look like:

Cybersecurity policy

A well-defined cybersecurity policy should outline security practices, employee responsibilities, and procedures for responding to incidents. Regularly review and update this policy to address emerging threats.

Incident response plan

An incident response plan details the steps to take in the event of a cyberattack. This should include identifying the threat, containing the damage, eradicating the threat, and recovering systems. Having a plan in place ensures a swift and organised response.

Regular audits and updates

Conduct regular security audits to identify vulnerabilities and ensure compliance with your cybersecurity policy. Regularly update your security measures to keep pace with evolving threats.

Legal and compliance considerations

One final point to consider – cybersecurity isn’t only a good idea, but often obligatory by law. This may well necessitate further precautions.  

Identify regulations

Identify any cybersecurity regulations that apply to your business. For example, the General Data Protection Regulation (GDPR) in the UK and EU sets stringent requirements for protecting personal data. There are many different guidelines for various sectors and locations, so it pays to do your own research. If you want to learn more about compliance regulations, check our other blog post.  

Meeting requirements

Once you know which regulations are relevant for you, make sure you meet their requirements. Non-compliance can result in hefty fines – up to €10 million, in the case of GDPR – and damage to your reputation. That’s why it’s so important to stay informed about changes in legislation and adjust your practices accordingly.

Resources and tools for small businesses

A lot to handle, huh? You have some options to help you out:

Cybersecurity tools

Several affordable or even free cybersecurity tools can help protect your business. Problem is, free tools are usually not comprehensive. Here we’ll give our best recommendation, plus some free or cheap alternatives you can consider if you’re on a budget:

Antivirus software:

• WithSecure: A premium, comprehensive security solution that covers many cybersecurity concerns, offering great all-round protection.

• Avast Free Antivirus: Offers protection against malware, phishing, and others.

• Bitdefender Antivirus Plus: Provides robust protection with additional features like ransomware remediation.

Firewalls:

• pfSense: An open-source firewall that can be installed on hardware or virtual machines.

• OPNsense: Another open-source firewall with a focus on usability.

Encryption:

• VeraCrypt: A free disk encryption software for securing sensitive data on your hard drives.

• BitLocker and FileVault: Integrated into Windows and Mac respectively, they provide full-disk encryption for protecting data.

Multi-factor authentication (MFA):

• Google Authenticator: Provides a second layer of security for your accounts.

• Authy: Another MFA tool that supports multiple devices and account recovery.

Benefits of professional help

Given the stakes are so high, it can be well worthwhile to seek professional help. If you use deeploi, you get WithSecure cybersecurity included, a reputable and robust cybersecurity solution ranked #1 in software reviews. This means you can sleep easy knowing that your cybersecurity is in very safe hands, with little intervention necessary on your side.

deeploi handles many weak areas where your business could be vulnerable to cyberattacks – for example, it configures your employees’ devices for you, so you can rest assured that software is downloaded securely from trustworthy sources. Then, the WithSecure integration ensures they are protected as they go about their daily tasks, with features such as email protection and vulnerability management.

The conclusion? Don’t take the risk

Cybersecurity is not a one-time task but an ongoing process. By understanding the threats, assessing your needs, implementing robust security measures, and staying informed about best practices and legal requirements, you can significantly reduce the potential damage of cyberattacks.  

There are multiple free tools and services online that make this task a bit easier for you to achieve. But if you want to have the peace of mind that your cybersecurity is gold standard and your IT processes are safe, it’s best to use a third-party tool like deeploi that will handle everything professionally and securely.  

You can check out deeploi and how it helps your cybersecurity measures here.

‍