With almost two decades experience as Head of IT for multiple SMEs, I cannot convey strongly enough how crucial cyber security is for small businesses. Unfortunately, many small businesses underestimate its importance, thinking they are too small to be targeted.
This misconception can be costly.
It is because of the likely limited cyber security measures in place within small businesses that make them prime targets for cyber criminals.
According to the Cyber Security Breaches Survey, 39% of UK businesses experienced a cyberattack in 2022, with small businesses being significantly affected.
From financial losses, reputational damage, and regulatory penalties, the cost can be devastating.
Knowing what you’re up against is half the battle. So, here are the most common cyber security threats.
Phishing is deceptive emails or websites tricking employees into revealing sensitive information. These can be ultra-sophisticated to trick even the most tech-savvy employee.
Malware is malicious software designed to steal data or damage systems.
Ransomware encrypts data, demanding a ransom for its release.
Denial of Service (DoS) attacks overwhelm servers, causing untold disruption.
Insider threats: Risks from employees, whether intentional or accidental.
Spoofing and impersonation are fake websites or emails that appear legitimate.
Drive-by downloads is malware that installs when visiting compromised websites.
Malvertising is malware delivered through legitimate-looking ads.
Clickjacking is hidden links that lead to compromised webpages.
Software vulnerabilities exploit weaknesses in popular web platforms.
Cyber security is about prevention. As such, there are processes you can put in place at zero cost, as well as investing in specific solutions, namely:
1. An investment in cyber security doesn’t have to be expensive. Solutions like Microsoft 365 offer advanced security features such as multi-factor authentication and regular updates at a reasonable cost.
2. Managed Service Providers (MSPs), like Avensys Tech, provide tailored security services, including continuous monitoring and threat detection, without the need for a full in-house IT team.
3. Good Housekeeping such as: regularly updating software, training employees, and implementing strong password policies can significantly reduce risks. A solid incident response plan is crucial for quickly and effectively dealing with cyber incidents.
4. The UK government offers initiatives like the National Cyber Security Centre’s “Cyber Action Plan” and “Cyber Essentials” providing small businesses with essential tools and guidance to improve their cyber security posture.
Cyber-attacks have become commonplace. As a result, the threats are becoming ever more sophisticated putting every business, in particular small businesses, at risk.
The risk and costs of downtime are skyrocketing and being cyber aware is no longer enough, you also must be cyber smart.
By investing in affordable solutions and leveraging expert support, you can safeguard your business effectively. If you want to discuss cyber security for small business, reach out to me for advice on cyber security essentials.
