Are You Prepared for a Cyber Attack?
Have you considered the threat cybercrime poses to your business? Former FBI Director Robert Mueller once said, “There are only two types of companies: those that have been hacked, and those that will be.” On average cybercrime has cost small businesses nearly $35,000 in the last year. The cost goes beyond just the monetary too. Data breaches can tarnish your reputation with clients, customers, and the general public. Could your business survive such a loss? A majority of small business owners list it as a top concern but 50% say that they lack the budget necessary to properly address the concern and 70% are unprepared to deal with a cyber-attack. How can you protect yourself and your assets without breaking the bank?
You should start by learning about the resources available to you and have a basic understanding of the threat landscape. Four of the most common cyber-attacks against businesses are malware, phishing, password attacks, and Denial-of-Service (DOS) attacks. Learn what these are and how to spot them but also understand that cybercrime is ever-evolving and security experts are trying to keep up. We understand that time is a valuable commodity, especially to entrepreneurs, but you don't need to become an IT expert. Remember, it’s not just your data at risk but also the data of all those who do business with you. For starters check out the Cybersecurity page of U.S. Small Business Administration's website.
Once you have a fundamental understanding of the issue, take some time to instruct your employees. Make sure they're aware of the dangers of cyber-attacks and breaches. Write and enact simple policies for internet and email usage--you likely have a dress code, you should have a secure network code as well. While you're at it, make sure your employees are using unique passwords because according to Verizon's 2018 Data Breach Investigations Report, "81 percent of hacking-related data breaches involved either stolen or weak passwords." The Federal Communications Commission (FCC) offers a useful Cyberplanner to act as a starting point for your security document.
Fore more suggestions I recommend you check out this list of 25 Tips on Small Business Cybersecurity for 2018 featuring advice from industry professionals. You should also check out the 2019 Internet Security Threat Report.