As a small business owner, you may think that cyber threats are only a problem for large corporations and governments. But small and medium-sized businesses are also vulnerable to unauthorised breaches or hacks. These can result in significant financial and reputational damage due to theft of banking information, business disruption, and compromised customer information.

Here are some simple but effective ways to boost your business’ cybersecurity.

1. Train Your Team

It’s important to invest in cybersecurity training for your employees, so they don’t accidentally leave your business vulnerable to a cyberattack. They’ll need to know how to spot potential fraud, securely store client information, and safely use and protect their devices.

2. Get Good Anti-Virus Software

Anti-virus software protects your systems and devices by continually scanning for threats such as viruses, malware, spyware, and phishing scams. And remember to keep your anti-virus software updated to stay safe from new and evolving cyber threats.

3. Update Your Software

It’s not just your anti-virus software that needs to be kept up-to-date. Vendors regularly update software to repair security holes and fix bugs in applications. You also need to upgrade when the software you’re using becomes out-of-date, as this means new security patches will no longer be released – making it vulnerable to hacking.

4. Strengthen Your Passwords

It only takes one weak password to give cybercriminals access to your systems – so make sure you have a strong password policy in place for all your employees. Passwords should be long and unique for each website or service you use. If this becomes difficult to remember, you can use a password manager like 1Password to securely store your passwords for you.

5. Use Multi-Factor Authentication

Where possible, it’s a good idea to use two-factor or multi-factor authentication – particularly for services that have security vulnerabilities or sensitive information, like accounting, online banking, remote access, and email systems. While this makes accessing systems slower than just using a password, it goes a long way towards tightening cybersecurity.

6. Back Up Your Data

To protect your data, you need to have a backup system that automatically copies your files to storage – so you’ll be able to restore them in the event of a cyberattack. Backups should happen at least daily, with copies stored offline as well. It’s also essential to have a disaster recovery plan, so you know exactly what to do following a data breach.

7. Create a Risk Management Plan

To create an effective risk management plan, you’ll first need to carry out a simple risk assessment, identifying potential threats that might compromise the security of your organisation’s systems, networks, and information. This includes determining how your data is stored, who has access to it, and possible breaches that could occur. You should review your risk management plan regularly and update it as needed

8. Protect Your Physical Devices

Don’t forget that cyberattacks can also be physical, which is why your business devices need to be secure – including laptops, PCs, and mobile phones. Devices should be safely stored, and locked when left unattended. If a device can’t be locked down, like a USB or hard drive, then consider password protection and encryption to prevent unauthorised parties from gaining access.

9. Encrypt Sensitive Information

If your organisation deals with sensitive information – for example, relating to credit cards, bank accounts, or personal health or finances – then you should protect that data with encryption. Encryption converts information into codes that are unreadable, so that a hacker will be unable to decipher the data even if they gain access to it.

10. Secure Your Wi-Fi Network

An organisation’s devices are only as secure as the network through which they send and receive data. Your Wi-Fi can be a gateway for potential hackers – so make sure you have a secure network with strong encryption. Avoid free and public Wi-Fi networks, use your mobile phone in Hotspot mode instead.

11. Limit User Access

Within your organisation, the number of people with access to key data must be kept to an absolute minimum – to reduce the likelihood of cybercriminals gaining access through a privileged user account. Your business should have a security plan that outlines which employees have access to different levels of information.

12. Exercise Caution With Emails

All your employees need to know how to recognise suspicious emails that come from unknown senders or contain links or attachments. Phishing is the most common kind of attack, where a hacker uses a malicious email that appears legitimate to try to gain access to your business’ personal data. If there is any doubt, always call the sender to verify the attachment or link before clicking on it.

13. Verify Online Payments

Your accounts team must pay careful attention to potential invoice scams. Any instructions that involve sending money should be authenticated by speaking directly to the supplier, either in person or over the phone. Cybercriminals can change bank account details on what appears to be a legitimate supplier’s invoice, so always verbally confirm any changes before making payment.

14. Check the Security of Third Parties

When you grant partner or suppliers access to your systems, you need to make sure they are as safe and secure as you are. Don’t be afraid to ask about their privacy policy and encryption, until you are confident that they are following similar practices to your organisation.