With the UK reporting that approximately 612,000 small businesses and 61,000 charities fell victim to cyber-attacks in 2024, the escalating trend of attacks on modern microbusinesses is a stark reality. This reinforces the urgent need for stringent cyber security measures for businesses of any size. A comprehensive password is no longer sufficient as cybercriminals continue to evolve their tactics to infiltrate data and information that must be safeguarded from their nefarious intentions.
As a small business, what can you do to help you enact stringent measures that reflect protection and deter criminals from accessing or attempting to access the data you have?
Outsource
Outsourcing your cyber security needs to a third-party company that can provide comprehensive coverage and knows what to look for and protect against can be a weight off your mind. While it’s an added cost to accommodate into your finances, when you factor in that the average cost for a breach for businesses is over £1,000 according to PolicyBee, Acronyms IT Support puts this figure closer to £8,000, and this number is before you consider the reputational cost, and loss of income as a result. It puts the cost of working with a third-party cyber company into perspective, doesn’t it?
Talk to Vendors
One often overlooked way that criminals gain access to businesses is through another company. They infiltrate a company with lax cybersecurity, and then they can access data on their employees, customers and partners and work through the list to see who else they can gain data from. This will massively expose your business. Talking to vendors about your concerns and understanding the measures they have in place or the protection they offer can help you adapt your approach and how you protect yourself to cover any gaps or address overlaps in protection. Whether it is choosing secure payment processing from Inviopay or asking your raw material suppliers to share their cyber measures, uncover what practices are in place from all of your partners and vendors to help you limit breaches.
Staff Training
Ensuring that all employees are thoroughly trained, provided with ongoing support, and equipped to manage cyber threats is paramount. They need to understand the protection measures in place and their role in maintaining them. They should be aware of how their actions can contribute to breaches and the potential consequences of their actions. Having policies and procedures in place to ensure everyone adheres to the right practices and behaviours when at work is crucial.
This can be achieved by limiting the sites and types of links clicked by employees, monitoring online activity on the company network to offer more protection, or identifying risky behaviours and securing channels for them to perform such behaviour without potential impact on the company. The more aware and informed your entire team is on the best cyber security measures, the easier it will be for you to be proactive, not reactive, and stay on top of threats.