Can SMBs Match Big-Business-Level Cybersecurity?

Small and medium businesses are often the preferred target of hackers and cybercriminals, primarily due to the fact that SMBs lack the same resources and cyber defenses as big businesses and corporate giants.

But with so many high-level breaches at large enterprises including Sony, Target, Dropbox and Yahoo, it's easy to see that money isn't everything. Your organization can still be hacked, no matter the size.

But this same observation leads some to ask, Can small businesses ever match enterprise-level cybersecurity?" And the truth of the matter is yes, yes you can.

Below are a few tips to strengthen your security standing against digital incursion. However, if you are still breached (no defense is perfect after all), cybersecurity insurance from CyberPolicy has got your back.

Create an Incident Response Plan
Regrettably, the vast majority of small businesses don't even think about the consequences of a security breach until after an incident has occurred. This inevitably leads to internal chaos as employees scramble to contain the breach, assess the damage and repair their systems.

If you want to improve your defenses, you need to develop an incident response plan ASAP! Determine a chain of command and duties for each team so everyone knows what to do from the get-go.

Hire Cybersecurity Professionals
It's important to bring talented cybersecurity professionals into your organization. This can either through hiring or working with a security agency; depending on your needs, budget, office space, etc. The point is to have someone monitoring your network for suspicious activity.

Host Regular Training Sessions
You'll also want to give your non-IT staff the tools and education they need to identify and avoid common cyberattacks. Try hosting quarterly cybersecurity training sessions to prepare your employees for digital threats. Remind your workers to:

  • Updated their software regularly
  • Use a password manager for all their online accounts
  • Enable two-factor authentication
  • Avoid Shadow IT whenever possible
  • Bypass suspicious emails, attachments, downloads and links

These simple behavioral changes will drastically improve your chances of avoiding a cyberattack.

Employ Secure Cloud Storage
The safest place to store sensitive data is on an encrypted cloud storage platform. But just because it's secure doesn't mean you can set it and forget it. Make sure that your cloud is being monitored by either your IT team (or agency) or a managed service provider (MSP). This way, if there is an incident, you'll know sooner rather than later.

Back Up Your Data
Let's say a hacker deletes your files or cripples your systems with a ransomware attack. What are you going to do? Hopefully you've backed up your data to a non-web-connected computer or device, where it can be protected from prying eyes. Otherwise you could be in a world of hurt!

Invest in Cybersecurity Insurance
Finally, remember to invest in a cybersecurity insurance policy from a reputable provider. Cybersecurity insurance works just like business insurance, but instead protects you from the financial damages associated with data breach and hacking.

Interested in learning more? Visit CyberPolicy today!

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