No small business owner wants to be a target of a cyber attack. Even a minor cyber security incident can have a devastating impact on your income, data and website, as well as your reputation.
Nalinda Ranaweera is an independent advisor with Service NSW Business Connect from Central West NSW. He suggests 5 simple and inexpensive ways owners can protect their small business from common cyber security risks.
1. Educate yourself and your staff
If hackers gain access to your network, they can cause significant damage with what they find. This might be access to your customer lists, your company’s banking details, your business growth plans or your customers’ credit card information.
No matter the size of your business, everyone is vulnerable. That’s why it’s important to protect your personal and business information by learning about common cyber security threats. It’s also important to educate your staff about the risks of a data breach and put clear policies in place around how customer information and other vital data is handled.
2. Back up your information regularly
It's best practice to frequently run backups of your data and check that your data remains secure.
You should store backups offline or in a separate location to protect against cyber attacks or other data loss incidents.
'Some small businesses can encounter problems if they are not saving their information weekly or even fortnightly and then storing separately,' shared Nalinda.
3. Keep software and systems up-to-date
Businesses should update their operating systems, software applications and firmware regularly. While this can seem time-consuming, updates often include security patches that fix known vulnerabilities that hackers can exploit.
Nalinda notes, 'Hackers and cybercriminals constantly search for weaknesses in software to exploit, and outdated systems are more susceptible to attacks. Regularly updating your software, including your mobile devices, ensures that you have the latest security measures in place, protecting your data and systems from potential threats.'
4. Use strong and unique passwords
You can improve your system’s security by creating complex passwords that include a combination of upper and lowercase letters, numbers and special characters. Avoid using information that could be easily guessed, such as your birthday, child’s name, business name or pet’s name. It’s also important to use different passwords for each platform.
'Consider using a password manager to securely store your passwords. Business owners often don't realise that they have been hacked right away. A hacker works by studying your communication habits and style for some time, and then will confidently change your bank details with your contacts via email without you realising,' says Nalinda.
5. Turn on multi-factor authentication
Use multi-factor, or two-factor, authentication wherever possible. This adds an extra layer of security by requiring a second form of verification, such as a code sent to your mobile device, in addition to your password. Multi-factor authentication is a clever way to safeguard your business and shouldn’t be overlooked.
Some programs and websites offer built-in multi-factor authentication that you can enable quickly in your account settings.
Cyber security requires your constant attention. As a business owner, the best way to stay cyber safe is to regularly reassess your security measures, stay informed about emerging threats and adapt your strategies accordingly.
Find a Business Connect advisor who can help you access cyber security resources and advice.
Related links
Privacy and cyber security – Business Connect podcast
Small Business Cyber Security – Australian Cyber Security Centre