Cybersecurity is a Multifaceted and Strategic Issue for Small Businesses

There are a lot of threats out on the Internet, and many of them have absolutely a slim chance to threaten your business. Unfortunately, there are plenty that can and it only takes one to set your business back. Many IT professionals currently working for enterprise businesses deal with threats day-in and day-out, so they are experienced and knowledgeable. Small business owners, who for all intents and purposes are the lead IT decision-makers, don’t always consider these risks; they just need to keep their business running effectively. 

Some Interesting SMB Cybersecurity Statistics

Statistics taken in context can provide a good deal of perspective. Here is one that will surprise most people:

• The average cost to a small business from a cyberattack that is mistakenly initiated by an employee, partner, vendor, or someone else associated with the company is over $7.5 million per incident for companies with under 500 employees.
• Over two out of every five small businesses don’t have any type of cybersecurity plans in place.
• Nearly one out of every five small businesses experience some form of cyberattack every year. 

What Are You Spending on Cybersecurity?

With those statistics in mind, it is prudent to come up with a plan that will help keep you from dealing with a data breach, a malware attack, or any other negative scenario that could happen as a result of getting hacked. Here are three strategies that can help.

Invest in Employee Training

The majority of today’s cybersecurity problems have at least a little to do with your employees. Phishing attacks are the most utilized hacks and they require someone from your organization to take steps to provide access. You need to train your employees how to identify and report suspicious emails, calls, and instant messages; and, how to utilize company technology without exposing data and other digital assets.

Vet Your Vendors and Partners

Another common problem occurs when you utilize a service or have agreements with a third-party company or vendor. If that organization gets hacked, it could have an immediate effect on your business. Many of today’s small businesses utilize cost-effective cloud solutions that may not be secure enough in their own right. If you are going to utilize hosted solutions to run your business, you should consider hosting them with reputable vendors. k_Street Consulting, LLC can help you make the right choice.

Keep Your Network Managed

The best thing any company can do is just to deploy tools to secure their network and to keep those tools managed and maintained consistently. Here are a few suggestions:

• Keep all network-attached devices patched and up to date. 
• Use automation to verify configurations, and to detect unauthorized changes that happen on your network.
• Utilize two-factor authentication on all applicable software and encryption where possible. 

There are many more solutions to the cybersecurity problem, but it is a strategy that has to be consistently utilized because it only takes one instance to really cost your business.

If you would like to talk to one of our IT professionals about cybersecurity or any other technology issue, give us a call today at (202) 640-2737.