A surprisingly large number of SMBs think they’re too small to be targeted by hackers. The truth is, cybercriminals sniff out opportunities regardless of the company size and the complacency of the SMBs is what draws them. 2020 was an especially eventful year for small businesses and it has exposed fundamental flaws in the way they handle data. Therefore, small businesses need to take stringent precautions to prevent cyberattacks.
Here are some numbers that every small and midsize business owner need to focus on:
- 28% of all data breaches in 2021 occurred in small businesses – Verizon
- Data breaches from team members can cost businesses up to 20% of their annual revenue – Cyber Security Magazine
- 37% of SMBs have lost a significant number of customers due to data leaks – PRWeb
The numbers have been growing in recent months and with cybercrimes becoming more sophisticated, SMBs with legacy frameworks will be severely compromised.
Here are 4 ways SMBs can strengthen data security in 2021-
1. Cybersecurity training for employees
This is an old bug plaguing SMBs even in 2021. With the rapid transformation of remote workspaces, companies have prioritized collaboration over security. This has opened up employees to new security threats. Every team member should be educated and empowered to detect and avoid online frauds and instantly respond in case of a security compromise. The failure to report a breach quickly adds up to downtime and revenue loss.
2. Secure cloud infrastructure
A strong cloud infrastructure is very important to any business. Unfortunately, improperly setup cloud systems can be a very weak point for hackers. You need to make sure that your cloud system is secured to keep them at bay.
Cloud has seen unanimous appreciation among small and midsize businesses. The major reasons are the cost-effectiveness and flexibility offered by the cloud infrastructure. While it’s theoretically more secure than physical devices, it has ultimately pushed SMBs to let their guards down.
Cloud software can be broken into and that’s why businesses need to invest in industry-leading platforms to run their business. Microsoft 365 has been leading the office productivity market for decades and the recent push to the cloud suite should offer SMBs the security they deserve.
3. System updates and data backups
Sometimes the most advanced security measure you can take is to cover the basics. Regularly updating systems and backing up data may seem like a tedious and irrelevant chore, but most hackers find loopholes either in outdated software or in legacy devices. In both cases, keeping the systems updated and backing up sensitive data can help you mitigate the risks.
4. Create and enforce security policies
Far too many SMBs gloss over the importance of having a security and compliance policy, and strictly enforcing it on the floor. The documents should include a zero-trust protocol for vigilant data protection, virtual desktop infrastructure (VDI) for remote workforces, multi-factor authentication (MFA), and siloed access to data.
It’s also important to roll out and practice response plans – from the chain of command to fast decision making. You need to make sure that these security policies are both properly structured and carefully followed in order to prevent any security risks.
MyTek: data security for SMBs
As a business owner, you need an industry expert who can offer you security solutions based on your business goals. As a Microsoft Partner, MyTek provides a comprehensive suite of security measures – from network security, firewall, asset tracking, Unified Threat Management (UTM) services, spam protection to access control, employee training, and enterprise mobility solutions.
If you’re looking to bolster data security in 2021 and beyond, get in touch with us today.