Have you heard about cyber attacks on businesses? It has become quite common. Cyber attacks can lead to substantial financial loss and sometimes even worse.
A survey by the SBA shows that 86 % of small businesses fear for their security because of cyber attacks. Though there are several solutions to prevent these attacks, not all small businesses can afford them, and they become indecisive in opting for the right option that can safeguard them against the attacks.
What’s the impact of cyber attacks on your business?
Cyber attacks can lead to disruptions and a loss of revenue. These attacks can be carried out with a variety of methods, including injecting malicious code into the server, which blocks access to the site.
Loss in Revenue:
Cyber attacks can have a negative effect on the business. Small businesses suffer a lot of damage when a cyber attack hits. Cyber attacks will cause a loss in revenue. 42% of small businesses have been victims of cyber attacks.
Being a small business owner can help you protect your organization from cyber attacks. There are tips to prevent cyber attacks from targeting your business.
Negatively Impacted on Business Reputation:
The brand name is the first impression customers have of a company, and it builds trust, loyalty, and the customer’s willingness to purchase from a company. The brand name and reputation of a business that is a victim of large cyber attacks may be damaged. Business income is directly impacted by customer loss due to reputational damage.
Businesses need to be prepared in the event of a cyber attack. Businesses often have to pay a large amount of money to hire security consultants or other measures to prevent cyber attacks as they can cause massive data loss and other damages and need an immediate response.
Tips to protect your small business from cyber attacks
>> Create strong passwords
Unbreachable security depends on strong passwords. 26% of Americans have used weak passwords such as abc123, name123, and godname123. Passwords are easy to guess and can be cracked, so they don’t provide much protection.
Easy-to-guess and simple passwords can lead to a data breach. Ensure that your employees are proficient in creating secure passwords with upper and lowercase letters, digits, and symbols. Always remind them to use different passwords for different accounts and to change them every 2 or 3 months.
>> Identify Phishing Emails
This is the most common way for hackers to get into a company. A hacker will send an email that looks legit. It’s important to catch the hackers at the first strike.
How to identify if the website is legitimate or not?
While opening a website, you can check whether it has a secure connection (HTTPS) or not. If the website does not provide a secure connection, it cannot be genuine, and you should not trust it.
However, nowadays hackers are advanced, and they create an exact copy of the website with a secure connection, which makes it even more difficult to differentiate. Then, you can check to whom the SSL Certificate is Issued. You can check that by performing the following steps:
–> Open the website and click on the padlock icon in the search bar
–> Click on the connection is secured
–> you can see the heading “certificate is valid” and you will see “issued to”
You will see the official name if the website is legit. You should not trust that website if you find any other names.
It is recommended that you install the Netcraft app on your phone. We recommend you use the phishing detector for the desktop. Employees should be trained not to trust emails without confirmation.
>> Data Backup
One of the most important things you can do to protect your business from a cyber attack is back up your data. Even if your system is compromised, you will still have access to your critical information because of the regular backup.
The best approach to back up your data depends on your needs and resources. One way to store your data in the cloud is to use an online backup service. An external hard drive or another storage device can be used to create a local backup that you can keep on-site.
It is important to regularly test your backups to make sure they are working correctly. Keep multiple copies of your data in different locations to recover it in the worst-case scenario. These precautions can help protect your business from a cyber attack.
There is a code/file that harms your system. If you accidentally download an attachment, hide it on a drive, or email it to someone, the website will become infected. You wont be able to access your data once the malware is injected.
It is important to keep the software updated to protect the data. If you want to prevent cyber attacks, it is advisable to hire a web host for your website that will protect it from malicious software and inform you when it is injected into your site.
>> Install Firewalls
Ensuring that your website is secure is important for the installation of a firewall. Unauthorized access to the computer network, cyber attacks, and blocking users from visiting harmful websites are some of the things that a firewall tries to prevent.
In addition, firewalls are helpful in ensuring network privacy because of their ability to send alerts about viruses, continuously monitor website traffic, and keep an eye on network traffic. If you want to keep your website safe, you should choose a secure web hosting that has server firewalls that will keep an eye on your account.
>> Management Access
Management access is important to protect your small business from cyber attacks. The information, devices, or software that is crucial and confidential to the company should be restricted.
You should also check who has access to your network, including employees and third-party vendors who may have access to your data. Don’t forget to remove access for users who don’t need it. The risk of a cyber attack will be reduced if unauthorized access to your systems is prevented.
Nowadays, cyber attacks are easy to carry out. Ensuring that your business is doing well and is protected against attacks is the primary responsibility of a business owner. The best way to protect your business from cyber attacks is to implement the steps discussed in this post.