The value of data in 2021 is equivalent to gold, which is why every 11 seconds, a business falls victim to ransomware.
If a business does not take protective measures, things can go completely wrong for them. The world is estimated to lose around $6 trillion on ransomware alone.
As more businesses are looking to make a name for themselves online, they experience substantial data breaches. Only a well-secured business can survive the onslaught of hackers.
But most of the hacks are experienced by small businesses only. Do you know what the reason behind it is?
Well, here is why:
Why do hackers prioritize small businesses over large organizations?
Hackers prioritize small businesses over large organizations purely because small companies do not have appropriate security measures.
Small business owners think that they are not the ones hackers would draw towards; instead, they would target large firms to derive maximum profits.
But that is not the case. Large firms have robust security measures in place. They always install an SSL certificate and firewall on their website.
They are challenging to breach and have multiple layers of protection for their data, whereas a small business does not have multiple security layers to protect it.
7 Low-Cost Security Measures you can take to improve Your Cybersecurity
1. Manage your Password
Password management is free. All you have to do is devote time to change all of your passwords.
Most people write easy-to-guess and specific passwords so that they can remember them. If that is easy to remember and guess for you, hackers can think of them too.
On the other hand, some businesses resort to a more complex password strategy, which is hard to remember for them; thus, they are left stranded.
So, make a blend of characters and numbers hard to guess for the hackers but easy to remember.
2. Always have an excellent Off-boarding plan before Transition
An excellent off-boarding plan is necessary for a business if it is transforming or upgrading itself.
Leaving old accounts, data, and leftovers of past plans can give a hacker an idea about what you have been doing, and he can penetrate through your defences on the back of your past data.
Thus, it is recommended to delete any old or abandoned account left behind so that nobody can look or sneak into your system.
3. Don’t overlook an SSL certificate.
You can never protect your website if you do not install an SSL certificate on it. SSL encrypts data and information being transferred and sends it over a secure network so that hackers cannot see it.
SSL protected websites get a gray padlock ahead of its address, indicating that the website owner is authentic.
The certificate not only protects your website but also helps you gain customer and search engine trust.
4. Always have a Two-Factor Authentication in place
If your account has a two-factor authentication, nobody can sneak into your account without your consent.
Anyone who tries to access your account must enter a One Time Password that only comes on your registered phone number or email address.
Hackers cannot hack into your account until they enter the OTP, which is nearly impossible for them to access.
Your admin accounts will be protected with an extra layer of security at all times, enabling you to function without having to worry about cyber-attacks.
5. Regularly update software
Software updates can be creepy sometimes. They often come up when you are in the middle of something.
Thus, most people ignore them for the time and schedule them for later updates. The thing here is that later never comes.
Whenever an update comes, the systems using outdated software become vulnerable to breach.
Hackers go running to search for systems using outdated software so that they can hack in and leak the data elsewhere.
So, whenever you skip the update for the time being, always remember hackers are on the lookout for systems like yours.
6. Train your Employees for Phishing and Spear Phishing Attacks
Hackers execute spear-phishing attacks to target the lower-level employees who are not trained to defy an attack.
Phishing attacks also get executed quite often, targeting all the employees in a department.
Emails are the most common medium used by hackers. They send emails that look identical to original ones, inviting the company employees to click on unsolicited links.
Phishing emails are hard to pass by as they bore the company’s name, and there are minor mistakes here and there, which require extensive employee training to figure out and repel.
7. Keep backups
You must copy vital data, information, credentials, and files to a hard drive or cloud so that If your data goes missing, you can retrieve it to keep your business going.
Backups prepare you for unforeseen circumstances by keeping your data safe.
However, you must remember that data backups should be kept in an encrypted format so that no hacker can use the information even if they steal it.
Organizations generally resort to storing their back up on the cloud because that allows them to access the information from anywhere in the world.
A hard drive may not be convenient, but you can still use it if you have trust issues with the cloud.
As a small business, you do not need to spend thousands of dollars on cybersecurity. Only a tiny portion of the allocated budget and some strict practices are enough.
Since small businesses do not have a complex structure to deal with, they can easily inculcate simple tricks to keep hackers at bay.
Getting an SSL certificate installed, strong password management, backing up your data on cloud/drive, employee training, employing two-factor authentication, and regular software updates can keep a business secure as a locker and firm as a rock.
Follow these tips and take your business cybersecurity to the next level.