Top 10 Cybersecurity Best Practices for Small Business Owners

Publication date : September 16, 2024

Read Time : 8 min

Securing Your Small Business: Why Cybersecurity Matters

Did you know that nearly two-thirds of Canadian businesses have experienced a cyber incident? What are the repercussions when considering that four out of five Canadians say they would spend their money elsewhere if a business failed to protect their data?

Adding cybersecurity protection to your business doesn’t just protect you — it keeps your customers’ and suppliers’ data secure. It also lets your customers know that your business cares about their safety, which in itself can help you build a strong brand and secure a loyal customer base.

The concept of cybersecurity can seem daunting, especially if you consider yourself technologically challenged, but don’t worry, you don’t need to be a master hacker yourself to know how to protect your digital information!

Stay Ahead of Digital Threats

We’ve created a small guide to show you simple and actionable steps you can take to safeguard your business from cybersecurity threats. Implementing these measures will not only protect your digital assets, but also build trust and loyalty among your customers, while ensuring your business thrives in a secure environment.

Understanding Cybersecurity Threats

Before we dive into how to protect yourself from cybersecurity threats, it's important to understand exactly what you're protecting yourself against. Small businesses face various threats that can compromise sensitive information, disrupt operations, and harm your reputation.

Knowing these common threats can help you recognize and prevent them, ensuring your business remains secure. Here are some common cybersecurity threats that small business owners need to be aware of:

Phishing

Fake emails or messages that appear to come from legitimate sources, tricking employees into revealing sensitive information or clicking on malicious links.

Ransomware

Malware that encrypts your data and demands a ransom to unlock it, causing significant disruption and potential data loss.

Malware

Malicious software, including viruses, and spyware, that can damage systems, steal data, or allow unauthorized access to your network.

Insider Threats

Employees or former employees who intentionally or unintentionally compromise security, leading to data breaches or theft.

Denial of Service (DoS) Attacks

Overwhelming your network or website with traffic, causing it to crash and become unavailable to users.

Password Attacks

Attempts to gain access to systems by cracking passwords, often through brute force attacks or exploiting weak passwords.

Man-in-the-Middle (MitM) Attacks

Intercepting communication between two parties to steal data or insert malicious content.

Social Engineering

Manipulating employees into divulging confidential information through deceptive practices.

SQL Injection

Exploiting vulnerabilities in your website’s database to gain unauthorized access to data.

Zero-Day Exploits

Attacks that occur on the same day a weakness is discovered in software, before the developer can issue a fix.

#1 - Educate Your Employees

Training: Your First Line of Defence

Your employees play a key role in keeping your business safe, so it’s important for them to be able to recognize suspicious emails and websites and understand the importance of password security. Simple examples of cyberattacks and how to avoid them can be shared in regular team meetings.

Everyone should be aware of the digital security threats they might face daily and know how to spot and respond to them. Imagine an employee receiving an email that looks like it’s from a supplier, asking for sensitive information. With the right training, they will know to verify the request before responding, preventing potential cyberthreats.

#2 - Implement Strong Password Policies

Password Protection: Simple Yet Crucial

Strong passwords are vital for security. They should be hard to guess, combining letters, numbers, and symbols. It's wise to change them regularly and use different passwords for each account. Password managers can help keep track of these securely, avoid common passwords, and choose unique ones for better protection.

Imagine an employee using "password123" for multiple accounts. If one account gets hacked, they all become compromised. Strong, unique passwords for each account mean that even if one is breached, others stay secure. Password managers simplify managing and remembering these passwords.

#3 - Use Multi-Factor Authentication (MFA)

Double Up on Security with MFA

Two-step verification, or two-factor authentication, provides an extra layer of security by requiring a code to be sent to your phone in addition to your password. This reduces the risk of unauthorized access. It's helpful to explain to employees and customers how it works and why it’s important for protecting sensitive information from digital attacks.

Picture logging into your email account and being prompted to enter a code sent to your phone. Even if a hacker knows your password, they can’t get in without this code. This additional step keeps your sensitive business data protected from cyberattacks.

#4 - Secure Your Network

Keep Your Network Safe from Intruders

A secure Wi-Fi network is essential for protecting your business from cyber threats. Using a strong password and changing the default settings on your router are simple yet effective steps. Setting up a separate network for guests is another way to ensure your main network stays protected.

Imagine a customer asking for your Wi-Fi password. With a guest network, you can provide access without exposing your business’s main network. This keeps your important data safe while offering convenience to your customers, minimizing the risk of digital security threats.

#5 - Regularly Update Software and Systems

Stay Updated, Stay Protected

Keeping your software up-to-date, including antivirus programs, is vital for defending against the latest threats. Outdated software can have vulnerabilities that cybercriminals exploit. Automatic updates are a convenient way to ensure your systems are always protected. Sharing the importance of these updates with your team can help prevent potential cyberattacks.

Do you have an employee who always ignores update notifications? This oversight can leave your systems exposed to known vulnerabilities. Regularly updating software closes these security gaps, protecting your business from the latest threats and reducing overall digital risk.

#6 - Backup Your Data Regularly

Backup: Your Safety Net Against Data Loss

Regularly backing up your important data is crucial. Whether you use external hard drives or cloud storage services, having backups ensures you can still access your data if it's lost or stolen. It's important to keep backups in multiple locations and regularly test them to make sure they work.

Think of a construction project manager whose computer crashes, losing all project plans, or a retail store owner losing customer records. With regular backups, you can quickly recover this vital information, minimizing downtime and disruption. Backing up your data is like having a safety net, ensuring that no matter what happens, your business can keep running smoothly.

#7 - Implement Endpoint Security

Secure Every Device

Antivirus software is essential for protecting your computers from viruses and malware. Keeping it up-to-date ensures it can detect and remove malicious software before it causes harm. Explaining to your employees how antivirus software works and why it’s crucial for their devices helps them understand its importance.

Imagine a technician in a small manufacturing shop downloading an attachment from an unknown source, or an office administrator opening a suspicious email. Antivirus software can catch and quarantine any potential threats before they infect your system. Regular scans and vigilance against potential threats further bolster your defences.

#8 - Limit Access to Sensitive Information

Control Access to Protect Data

Limiting access to important information to only those employees who need it for their job helps reduce the risk of internal data theft. Implementing user roles and permissions controls who can access, modify, or delete sensitive data. It’s also important to log and monitor access to detect any suspicious activity. This key step reduces cyber risks and helps protect your business.

Let’s say your warehouse manager or an office administrator is leaving your company. Without proper access controls, they might still have access to sensitive information. Let’s then imagine that they happened to be leaving on unhappy terms; this can put your business at risk. By limiting access, you ensure that only those who need certain data can reach it.

#9 - Develop a Cybersecurity Policy

Establish a Cybersecurity Framework

Having a simple plan for responding to cyberattacks is crucial. It should include clear steps to take and who to contact in case of an incident. Regularly reviewing and updating your plan ensures it addresses the latest digital threats. Everyone in your organization should understand this plan, which will help you respond quickly and effectively, minimizing damage and downtime.

Imagine a small construction firm discovering their project files have been compromised on a Friday afternoon or a dental clinic finding out customer data has been breached. With a clear cybersecurity plan, you’ll know exactly what steps to take and who to contact, ensuring a swift and efficient response.

#10 - Prepare for Incidents

Stay Up to Speed with Cybersecurity

Staying updated on the latest cybersecurity threats and trends helps you prepare and adapt your security measures. Following reputable sources for cybersecurity news and updates is key. Knowledge is crucial for protecting your business from cyber threats and is an important part of your digital risk assessment strategy.

Think of a small manufacturing business owner hearing about a new type of phishing scam targeting suppliers, or a healthcare clinic learning about ransomware attacks on medical records. By staying informed, you can quickly educate your team about these new threats, ensuring they remain vigilant and your business stays protected from evolving cyber risks.

Stay Safe in the Digital World

Cybersecurity might seem complex, but taking these simple steps can greatly reduce your risk. Protecting your business by being proactive and staying informed is crucial. Implementing these best practices will help you safeguard your digital assets, build trust with your customers, and ensure your business thrives.

While doing it yourself or working with a freelancer might seem cost-effective, the expertise and resources of a dedicated agency provide unmatched security and peace of mind. Investing time and resources into cybersecurity today can save you from significant headaches and losses tomorrow.

By partnering with a digital marketing agency like Ubiweb, you’re ensuring your business remains protected against cyber threats.