10 biggest cybersecurity mistakes for businesses

Cybercriminals can execute highly sophisticated attacks, yet it is often poor cybersecurity practices that facilitate most breaches; this is particularly applicable to small and mid-sized businesses (SMBs). Small business proprietors frequently fail to give precedence to cybersecurity measures as they wholeheartedly focus on expanding their enterprises. They may erroneously believe that their exposure to data breaches is minimal or regard cybersecurity as a financial burden they cannot afford.

However, it is imperative to acknowledge that cybersecurity is not solely the concern of large corporations but also a pressing issue for small businesses; these smaller enterprises can often be perceived as alluring targets for cybercriminals due to numerous perceived vulnerabilities. Shockingly, fifty per cent of SMBs have fallen victim to cyberattacks, and a substantial majority, over 60%, have been compelled to shutter their operations in the aftermath of these incidents.

The good news is that cybersecurity need not entail excessive costs. Most data breaches stem from human errors, which presents an opportunity for improvement by enhancing cybersecurity practices and awareness.

Are You Making Any of These Cybersecurity Mistakes?

To address this issue effectively, it is imperative first to identify the problems that often elude the notice of SMB teams. Below, we highlight some of the primary reasons why small businesses become prey to cyberattacks. Continue reading to determine whether any of these issues resonate with your company.

Underestimating the Threat

A predominant cybersecurity blunder made by SMBs is underestimating the threat landscape. Many business owners harbour the misconception that their company’s size renders them an inconspicuous target. This is a hazardous misunderstanding, as cybercriminals often regard small businesses as easy prey, assuming that these entities lack the resources and expertise necessary to mount a formidable defence. It is vital to comprehend that no company, regardless of size, is immune to cybercriminal targeting. Proactive cybersecurity measures are of paramount importance.

Neglecting Employee Training

When was the last time you provided cybersecurity training for your employees? Small businesses often overlook the importance of cybersecurity training for their workforce, erroneously assuming that employees will naturally exercise caution online. However, the human element represents a substantial source of security vulnerabilities. Employees may inadvertently click on malicious links or download infected files. Implementing staff cybersecurity training enables employees to recognise phishing attempts, understand the significance of robust passwords, and become aware of the social engineering tactics employed by cybercriminals.

Using Weak Passwords

Weak passwords constitute a prevalent security vulnerability in small companies. Many employees rely on easily guessable passwords and reuse the same password across multiple accounts, exposing sensitive company information to potential hackers. It is noteworthy that individuals reuse passwords approximately 64% of the time. Encouraging the adoption of strong, unique passwords and considering the implementation of multi-factor authentication (MFA) wherever feasible can add an extra layer of security.

Ignoring Software Updates

Neglecting to maintain software and operating systems in an up-to-date state is another common error. Cybercriminals often exploit known vulnerabilities in outdated software to gain access to systems. Small businesses should consistently update their software to rectify known security flaws, including operating systems, web browsers, and antivirus programs.

Lacking a Data Backup Plan

Small businesses may not have formal data backup and recovery strategies, mistakenly assuming data loss is improbable. Data loss can transpire for various reasons, including cyberattacks, hardware malfunctions, and human errors. It is advisable to regularly back up critical company data and assess the efficacy of these backups to ensure their successful restoration in the event of data loss.

No Formal Security Policies

Small businesses frequently operate without clearly defined policies and procedures. The absence of enforceable security policies may leave employees uninformed about crucial matters, such as adequately handling sensitive data, secure usage of company devices, and the appropriate response to security incidents. Small businesses must establish and communicate formal security policies and procedures encompassing password management, data handling, incident reporting, remote work security, and other pertinent security topics.

Ignoring Mobile Security

Mobile security assumes increasing importance as the use of mobile devices for work becomes more prevalent. Small businesses often neglect this aspect of cybersecurity. Implementing mobile device management (MDM) solutions that enforce security policies on both company-owned and employee-owned devices used for work-related activities is advisable.

Failing to Monitor Networks Regularly

SMBs may lack dedicated IT staff to monitor their networks for signs of suspicious activity, potentially resulting in delayed detection of security breaches. Installing network monitoring tools or considering outsourced network monitoring services can aid in the prompt identification and response to potential threats.

No Incident Response Plan

SMBs without a comprehensive incident response plan may react panicked or ineffectively in a cybersecurity incident. It is crucial to develop an incident response plan that outlines the steps to be taken when a security incident occurs, including communication plans, isolation procedures, and a well-defined chain of command.

Thinking They Don’t Need Managed IT Services

Cyber threats are constantly evolving, with new attack techniques emerging regularly. Small businesses often struggle to keep up with these developments, believing they are too small to invest in managed IT services. Managed services are available in various package sizes, including those tailored to accommodate SMB budgets. Engaging a managed service provider (MSP) can protect your business from cyberattacks and optimise your IT operations, potentially resulting in cost savings.

Learn More About Managed IT Services

Do not risk the viability of your business due to a cyberattack. Managed IT services may be more affordable for your small business than you imagine. Contact us today to schedule a consultation.

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