Cybersecurity might sound like something only big companies need to worry about, but the truth is, small businesses are prime targets for online threats. Criminals know that small businesses may not have the same protections as large corporations, making them easier targets. But the good news is, you don’t need to be a tech expert to protect your business from most cyber threats. Let’s break down the main risks and how you can keep your business safe in a way that’s simple and affordable.
Cybersecurity might sound like something only big companies need to worry about, but the truth is, small businesses are prime targets for online threats. Criminals know that small businesses may not have the same protections as large corporations, making them easier targets. But the good news is, you don’t need to be a tech expert to protect your business from most cyber threats. Let’s break down the main risks and how you can keep your business safe in a way that’s simple and affordable.
Cyber attacks aren’t just inconvenient; they can be devastating for a small business. In fact, 43% of cyber attacks target small businesses - but only 14% of small businesses are prepared to defend against these attacks. The financial toll alone can be catastrophic: the average cost of a cyber attack on a small business is estimated to be around £8,460 in the UK, though costs can skyrocket if sensitive data is compromised or if the attack causes prolonged downtime. Even more concerning, 60% of small businesses go out of business within six months of a major cyber attack.
Beyond the financial damage, an attack can ruin your reputation and shake the trust of customers, who may take their business elsewhere if they feel their information is not secure. This is why investing a little time and effort in cybersecurity can pay off in protecting your business’s future.
It helps to know who’s behind these attacks and what they’re after:
Hackers: These are people, often working alone or in small groups, trying to break into systems mainly for money. They use easy-to-find tools and often target small businesses, hoping they won’t be noticed.
Insiders: Sometimes, threats come from within - an unhappy employee or a vendor with access to your systems might misuse that access to steal information or hurt your business.
Organied Groups: Some cybercriminals work in larger, organised groups. They often use methods like “ransomware” to take control of your business’s data, demanding payment to give it back.
Here are some of the ways attackers try to break in, and why understanding them can help you defend your business:
Phishing Emails: These are fake emails that look like they’re from a trusted source, but they’re designed to trick you or your employees into clicking on a link or sharing personal information.
Malware: Malware is any kind of harmful software, like viruses, that can damage or gain access to your system. It often arrives through suspicious email links or infected websites.
Social Engineering: Sometimes, criminals manipulate people to gain access, pretending to be someone you know or a trusted company to get you to share information.
Password Guessing: Known as “brute force attacks,” this is where attackers try many different password combinations until they guess correctly. Simple passwords are especially easy to guess.
Supply Chain Attacks: These happen when someone gains access to your business by hacking a third-party vendor or supplier you work with. This is why it’s important to know who has access to your network.
Website Overload Attacks: In these attacks, criminals flood your website with traffic to shut it down. They may use networks of infected devices to launch these attacks.
AI is a powerful tool used by both attackers and defenders in cybersecurity. On one hand, criminals use AI to make their attacks - like phishing emails - more convincing. They can even guess passwords more easily by learning common habits, like using birthdays in passwords.
But AI is also a helpful tool for cybersecurity experts. It helps detect strange activity quickly and can automate responses to protect businesses faster than any human could.
Here are some practical, easy steps to help you keep your business safe:
Train Your Team: Most attacks happen because of human error. Teach your employees how to spot phishing emails and avoid suspicious links, and make cybersecurity a regular part of their training.
Strong Passwords: Use passwords that are long and unique, even if they’re not overly complicated. Ask employees to use 18 characters or more if possible, and to change them every few months.
Limit Access: Only give employees access to what they need. This way, if someone’s account is compromised, the damage will be limited.
Update Your Systems Regularly: Software updates often fix security holes that hackers use to break in. Keep your software updated, especially if you use any “smart” or internet-connected devices in your business.
Encrypt Sensitive Data: Encryption is like putting a lock on your data. Even if someone gets in, they won’t be able to read sensitive information without a special code.
Backup Your Data: Regularly saving copies of your data means that if an attack happens, you can recover it without paying any ransom. Make sure you have a plan for recovering your data quickly.
Create a Backup Plan for Disasters: A “business continuity plan” can help you keep operations running if your business is attacked. Many businesses that don’t prepare for this struggle to recover quickly.
When it comes to cybersecurity, the right tools and frameworks should grow with your business. Small businesses and growing teams have different needs and resources, so a step-by-step approach makes sense - addressing basics at first and adding more rigorous standards as you grow. Here’s a tailored roadmap for cybersecurity resources based on team size, starting with smaller teams and expanding to meet the demands of larger businesses.
Focus: Establishing Basic Cybersecurity Practices
For businesses just starting out, resources should focus on foundational security to protect against common threats. At this stage, most attacks are often due to lack of basic cybersecurity knowledge or tools. Small teams benefit from focusing on:
Why This Approach Works: Starting with foundational practices lets small teams cover essential areas and prevents the most common attacks, like phishing and password breaches. These simple steps are scalable and build a strong base as your business grows.
Focus: Strengthening Internal Controls and Expanding Protections
As your business grows, so do your potential security risks. With more employees and data to protect, businesses in this stage should consider more robust frameworks that go beyond the basics to cover data management, access control, and early detection.
Why This Approach Works: At this stage, businesses have more data, potentially more access points, and often begin to work with third-party vendors. These resources create a strong infrastructure for protecting and managing a larger workforce, keeping data safe, and scaling defenses as the team grows.
Focus: Comprehensive Security Standards and Third-Party Risk Management
Larger teams often have more complex cybersecurity needs due to increased data volume, regulatory obligations, and vendor relationships. At this stage, businesses should adopt comprehensive frameworks that cover both operational security and vendor risk management.
Why This Approach Works: As businesses grow larger, they often need to meet higher security standards, not only for internal protections but to satisfy client and partner requirements. Comprehensive frameworks like ISO 27001 and PCI DSS provide the robust controls and compliance standards needed for larger companies, especially those dealing with sensitive data.
Implementing cybersecurity frameworks in stages ensures that businesses of all sizes are protected without over-investing in solutions that aren’t necessary or feasible.
Early Stage: A business with 1-10 users can cover its core needs without overwhelming its budget or resources, focusing on affordable, accessible frameworks like Cyber Essentials.
Growth Stage: For businesses with 11-50 users, balancing security with scalability becomes crucial, and frameworks like NIST are designed to grow with the business, helping to keep systems secure as the team expands.
Maturity Stage: Midsize businesses, with more data and users, face more complex risks and regulatory requirements. Implementing ISO 27001 and PCI DSS frameworks provides the rigorous protection and compliance needed to thrive in competitive environments.
A staged cybersecurity approach fits the growth journey, letting businesses protect their data at each level without taking on unnecessary complexity before it’s needed. By layering security measures, businesses can grow confidently, knowing that their cybersecurity posture is strong and scalable.
Cybersecurity might seem overwhelming, but by following these simple steps, you can reduce your risk significantly. Remember, it’s not a matter of if someone will try to attack your business, but when. By preparing yourself and your team, you’ll be able to handle attacks if they come and keep your business safe.
Stay informed, stay protected, and keep your business secure.