Five Cyber Security Best Practices For Small Businesses That Aren't Expensive

Small companies have traditionally been targets for criminals, from extortion to robbery. Cyber assaults may be their biggest danger now. According to Fireeye, small businesses are the target of 77% of all cybercrime, yet just 42% of small company owners are worried about cyber security.

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The significance of cyber security on Main Street cannot be overstated. According to the National Small Business Association, up to 60% of small firms that have had a severe cyber intrusion would collapse within six months. This is hardly unexpected, given that the typical data breach costs $3.5 million, according to Visa.

Adding cyber security to your company doesn't have to cost thousands of dollars or need you to hire your own IT guy. Small companies should follow these five low-cost best practises to protect their company and consumer data, according to the Federal Trade Commission.

1. Keep your security software up to date.

To operationalize your cyber security policies, keep your software up to date, including issuing automated security upgrades. Antivirus software companies such as MacAfee or Norton should also be considered.

2. Keep your data safe.

Important data should be backed up offline, as well as in the cloud and on external hard drives.

3. Set up multi-factor authentication and create secure passwords.

Most devices, networks, and platforms demand a password, and you should create strong passwords with a mix of numbers, characters, and case variations. For maximum security, change your passwords every 2-3 months and set distinct passwords for each device. Enabling multi-factor authentication adds another degree of security by enabling you to use a second device to acquire a temporary code to finish the login process if you forget your password.

4. Make sure your router is secure.

Change the default network name and password shared with the internet provider support staff after your internet connection is setup at your home or workplace. Replace the default network name and password with your own, and disable remote administration.

5. Educate your employees

Conduct cyber security best practises and risk factor training for your support employees on a quarterly or biannual basis.

Small firms have been able to flourish and reach the uncharted frontiers of the internet and data in today's quickly changing technological era. Regrettably, the geographical boundaries of criminality have also been radically redefined. To protect themselves, small companies should take these basic and inexpensive precautions.