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How should a Small Business respond to Cyber Attacks?

by raghav on October 9, 2019 in Blogs

 

Digital transformation is setting a new standard for businesses heading towards new digital space to tackle the real-world challenges to seek new business opportunities. Also, it’s not just about adopting new technologies; it’s about adopting security measures too. As per the Hiscox report conducted in 2018, small businesses have faced an average annual cost of $34,604 on cyber-related incidents, out of which only 52% of them managed to have a strategy for cybersecurity.

Besides, the recent report from cybercrime magazine predicted that by the year 2021, annual cybercrime costs across the globe would reach a staggering $6 trillion, which is hinting no business is safe.

How should a Small Business Respond to Cyber Attacks?

It’s imperative to have a plan to respond in the event of cyber-attack quickly!

The automated hacking programs are malicious to damage the system without your knowledge and access all sensitive information in a few seconds. So, it would be best if you are prepared for such attacks; that could happen at any time. Good threat protection tools can limit the cyber-attacks for a shorter duration; this is because attackers will keep looking for vulnerabilities they can exploit. Creating an actionable cyber- incident response plan could be viable options for small businesses. This procedural approach involves moment response to react to cyber-attacks, also supports law enforcement to find and apprehend the cybercriminal activities. However, with the help of advanced technology; attackers can easily reap your security system but having cybersecurity measures in place can save you from such instances.

Top 7 Cybersecurity Measures for Small Businesses:

  • Have security measures for viruses/spyware/malicious code: Use security measure tools such as anti-virus software, Intrusion-detection systems (IDS), General network tools, and port scanners to protect your computers and networks from cyber-attacks. Configure all tools to update on regular intervals to avoid the inconveniences updating the tools.
  • Protect your networks: Use firewall and encryption methods to protect your internet connection. If you’re using a Wi-Fi network, then set up a wireless access point to secure your network name. You can also protect your router with the help of the Service Set Identifier (SSID), which helps to shield the network visibility to unauthorized users.
  • Set-up security practices and policies to shield sensitive information: Make the adherence of security measures mandate in the working environment. Send a timely email to the employees regarding the importance of security measures. Frequently promote the consequences of violating the business’s cybersecurity policies.
  • Create a backup point for essential business data: Schedule a backup on a weekly/monthly basis to store the data safely offsite or in the cloud. Your backup should involve databases, financial information, electronic spreadsheets, word processing documents, and other sensitive information that are related to your business.
  • Restrict unauthorized access to computers/networks: Set standards to prevent access of unauthorized access to computers/laptops. Limit the administrative privileges to only trusted IT staff and key personnel.
  • Educate employees about cybersecurity threats: Conduct a regular training and awareness program for employees to educate them about how to protect your business’s data from cybersecurity threats and the practices to stay safe during cyberattacks.
  • Maintain a dedicated IT team: Most of the SMEs experience frequent cyber threats due to their lack of experience in cybersecurity measures. When they happen to face complex threats; they’ve no dedicated IT team to overcome such consequences. Onboarding specialist IT team with deep expertise in resolving cybersecurity concerns will add values to your workflow.

Every time we talk about Cybersecurity; we end up discussing new threats and security concerns. Many of us are operating our business under the influence of advanced digital world practices where the safety of business secures first place in every aspect. Whether your business is small, medium, or big, you need to have a plan to respond to cyber-attacks and Cybersecurity measures in place for a secured business journey.

Evolutyz Corp provides Enterprise level security suite to all types of businesses to align workflow with robust security standards to protect from cyber-attacks. Part of our Enterprise Security Suite – IdSec is an innovative, flexible, and cost-effective solution that automates your enterprise application access and authorization needs. Our IdSec tool removes manual security