7 budget-friendly ways to boost your company’s cybersecurity

Most companies conduct a lot of their business online, between email, messaging platforms, document drives and other programs. While this makes it easier to work from anywhere, it also gives hackers more opportunities to try to tap into your systems. Unfortunately, small-to-medium-sized businesses are often a target because hackers count on them having limited IT resources.

 

Here’s the good news: cybersecurity doesn't need to be complicated or expensive, according to the team at ESET. If you’re on a budget, there are a few low to no-cost solutions you can put in place to protect your data, secure your systems, and stop cyber attacks in their tracks so you can keep going on with business as usual.

 

These 7 small business cybersecurity tips won’t break the bank.

 

#1 Set up multi-factor authentication

 

On any given workday, your employees probably hop between a number of sites and softwares like Zoom and Slack. An easy way to add an extra layer of security is to ask your employees to use multi-factor authentication (MFA).

 

With MFA in place, they’ll need to provide more than just a password to log in to the company’s systems. For example, they may have to enter a code sent to their phone or email. This small business cyber security plan might be time-consuming, but Google confirms this step stops 100% of automated cyber attacks! Plus, it’s free to set up and a built-in feature on platforms like Gmail, Apple and Microsoft.

 

#2 Create unique, complex passwords

 

Speaking of passwords, your employees should have a different password for every account they use at work. Many people make the mistake of using the same password across multiple platforms, which makes a cybercriminal’s job easier. If they can crack one password, they’ll be able to access a lot of sensitive information.

 

Along with never repeating passwords, train your employees to create strong, complex passwords with at least 12 characters. The more random and obscure, the better! Avoid using any personally identifiable information that could be guessed (like your address, school or pet’s name), and go for a mix of uppercase and lowercase letters, numbers, symbols.

 

Top tip: Once your company grows, you might want to look into a premium password manager. These software programs store, organise and encrypt your usernames and passwords so you don’t need to remember them. Some of them can even create passwords for you, and notify you if one of your sites or systems has been involved in a data leak.

 

#3 Invest in a cybersecurity software

 

If you spend money on one thing, make it a good internet security software. It’s essential to protect your company from ransomware, malware and identity theft, which can all have devastating effects if a cybercriminal is successful.

 

While you can download free software online, they’re nowhere near as secure or sophisticated as paid, third-party programs. ESET Digital Security for Business offers a multilayered defence against cyber security threats for small businesses, and you can choose a package that suits the size of your company. It blocks offensive content and scans attachments and images for viruses, which is key to keeping company information safe. The software also secures your devices with endpoint protection, which is important if you have employees working from home.

 

#4 Deactivate any unused accounts

 

When you were building your business, you probably opened a bunch of accounts to help you manage payroll, communication, social media and so on. It’s worth doing a quick audit of these accounts and deleting any you no longer use. By cleaning up your digital footprint, you’ll be deleting any publicly available information a hacker could use.

 

#5 Regularly back up your data

 

Every business has valuable data, and every cybercriminal knows that. For that reason, it’s important to routinely back up your data, and maintain at least two backups for data loss prevention. Keep one on an external hard drive or flash drive, and the other on an encrypted cloud storage platform like Google Drive — which you’ll already have access to if you have a Gmail account. You’ll be able to quickly recover any lost data if you ever fall victim to a cyber attack or if your server crashes.

 

#6 Train your employees on cybersecurity

 

Unfortunately, many data breaches are the result of human error. For example, someone might accidentally open a phishing email or click on a link that downloads malware or a virus onto their computer. These mistakes can essentially open the door to hackers and leave your company vulnerable.

 

To prevent that from happening, it’s a good idea to set up an IT security training. Walk through the cybersecurity best practices for employees, and give them the opportunity to ask questions.

 

As part of the training, cover these points:

 

• Never open emails from unknown senders. Phishing and scam emails are among the most common cyber attacks. Teach your staff how to spot a suspicious email, and instruct them to mark it as spam and send it to your IT professional, if you have one.

 

• Accept all software updates. Software developers are constantly releasing patches to fix flaws and bugs in their programs. To stay on top of cybersecurity, say yes to those notifications as soon as they pop up — most will download in the time it takes you to make a coffee! You can also switch on auto-updates so you don’t miss any.

 

• Turn on your router’s firewall. If you have employees working from home, ask them to activate their router’s firewall. They can do this by checking their console settings, reading through the FAQs or contacting the manufacturer. This will filter the traffic trying to enter and exit the network, and stop hackers from gaining unauthorised access.

 

• Connect to a Virtual Private Network (VPN) at home. For remote employees, the best VPN for small business secures their WiFi connection, encrypts the data they send and receive, and hides their IP address so they can stay private online.

 

• Don’t use your work devices for personal purposes. Ideally, work computers, laptops or smartphones should only be used for work reasons. If you can’t provide your employees with a dedicated device, ask them to use different browsers for work and personal searches and avoid storing their personal passwords.

 

#7 Speak to your third-party vendors

 

Chances are, you partner with other companies or contractors in your line of work. Once you’ve tightened up your own cybersecurity using these tips, consider chatting to your vendors about their security practices. You could even make recommendations of your own, like implementing MFA and changing passwords often.

 

This will help you to avoid a supply chain attack, which is when a hacker accesses your system through a weaker partner.

 

Make cybersecurity a priority for peace of mind

 

Remember, some cybersecurity is better than none. Start with the best security system for small businesses, such as ESET Digital Security for Business. They offer a complimentary trial, and you can always upgrade your processes and solutions as you grow.

 

To learn more tips, sign up for ESET’s free cybersecurity training for businesses.