Small businesses are often the target of cyberattacks. In 2020, these attacks cost SMEs nearly $8 million. Over 40% of SMEs are not supported by any form of cybersecurity. 

For all organizations, cybersecurity is an essential way of protecting yourself from financial, legal or business-critical losses. Look after your employees, clients, and yourself, with these 5 simple cybersecurity tips from our cybersecurity professionals.

Use Multi-Factor Authentication (MFA)

Multi-Factor Authentication is the process of using more than one form of user identification before logging into a system. This might be their login information (including password), and then a code sent to their phone or email. 

The individual will then type the code into the application they need to log in to, and be able to proceed. These codes often expire after five minutes to provide an extra layer of protection. Using MFA offers one additional layer of security to prevent attacks on your business.

Use Strong Passwords

Using strong passwords is a simple yet effective step for protecting your business. Passwords should not be the same or similar across various logins, and should not contain sequential strings of numbers or letters. 

They should be over 12 characters, and contain either a mix of numbers and letters or a string of words, as this will protect you from hacking algorithms. Over 60% of all SMEs close within six months of a cyberattack. This simple advice from our cybersecurity professionals will help protect the logins to your business.

Train Your Employees On Cybersecurity 

It only takes one employee that’s weak on cybersecurity to break your business. The key to cybersecurity is knowledge, so train your employees on cybersecurity as a standard part of your onboarding process. 

Ensure that the training is mandatory every year, and upgraded to accommodate new scams or attacks. 

Professionally Protect Your Business Data

There are a number of critical and sensitive data points within a business. Sensitive client and employee information are one, as well as business-critical and internal processes. Professionally protect your data by encrypting all personal information. 

Encryption software is the process of scrambling any data that is not accessed by an authorized user. Having dedicated individuals that can access the data will professionally protect this information. Firewalls and protection software will also protect from viruses and malware.

Back-Up Your Data

The loss of data is one of the biggest impacts a cyberattack can have on a business. Backing-up your data regularly can protect SMEs from the impact of data loss. Regular data back-ups should as a minimum happen every day, but hourly saving will keep your data up-to-date. 

Your backed-up data should also be protected with encryption and firewalls, to avoid attacks hitting both your live and stored information.

Cybersecurity is the only way to protect against huge financial, legal and reputation loss. But you don’t have to be a cybersecurity professional to protect your business. Taking simple steps like MFA, using strong passwords and encryption software can help look after your data. 

Yet you have to take the additional step of training employees before you can be sure your data is protected. Backing-up data regularly will also ensure against any critical losses should your company fall victim to a cyberattack.