If you’ve been putting off cybersecurity investments for your small company, the time to invest is now. There’s never been a more critical time to address your small business cybersecurity. Consider these facts:
- The average cost for a data breach for a US company in 2024 is $4.45 million—IBM
- 60 % of companies lack a cybersecurity incident response plan—Ponemon Institute
- 51 % of organizations are planning additional cybersecurity investments in 2024–IBM
The cost of a data breach is going up because hackers are getting more sophisticated. AI is lowering the barriers to entry, writing malware on demand, and creating deep fake social engineering attacks that are almost impossible to detect. You may think your business is too small for hackers, but don’t be fooled. Nearly half of all hacks in the US are targeted at small businesses. Why? Because they’re juicy targets with fewer protections but just as much access to customer financial data, valuable trade secrets, and more.
Looking for Cybersecurity for Your Small Business But Don’t Know Where To Focus Your Investment? Small Business Cybersecurity Is Simpler and More Affordable Than You Think.
Shopping for cybersecurity services can be daunting if you’re a small business without an extensive IT department. The good news is that keeping your company safe doesn’t have to bust your budget. Many advanced, enterprise-grade cybersecurity tools can be purchased on a scalable, per-user basis. Fractional virtual Chief Information Security Officers are available for hire to help with even the thorniest cybersecurity governance challenges. But, before you start with any cybersecurity strategy for your small business, we recommend getting a thorough cybersecurity assessment and a written plan to help you achieve a Responsible IT Architecture. Let’s dive into what that is.
Responsible IT Architecture: The First Step in Your Small Business Cybersecurity Solution
What does it mean to have a Responsible IT Architecture? Responsible IT Architecture is a term we’ve coined at Integris to describe our approach to cybersecurity for our clients, which includes:
- Setting a standard based on cybersecurity guidelines set by the National Institutes of Science and Technology (NIST), industry regulators, and cyber risk insurers
- It provides a suite of backup and cybersecurity tools that, when used together, create a powerful wall of protection for your company.
- Using the Responsible IT Architecture standards to guide monitoring, reporting, and IT policy for your organization.
Believe it or not, this standard is possible no matter the size of your company or the internal IT resources you must implement. When you work with a managed IT service provider like Integris, you’ll be paired with the tools, consulting, strategy, monitoring/patching, and on-call service you need. Nearly everything is billed by the number of seats on your system, with a predictable, scalable monthly bill.
What kind of tools will you need to achieve a Responsible IT Architecture? Let’s walk through them one by one.
Small Business Cybersecurity Guide: Have You Addressed These Key Issues at Your Company?
Whether you run a mid-sized business or a small mom-and-pop company, you need a cybersecurity strategy. And every company’s plan will look different, depending on their needs. The difference will all boil down to the quality of the small business cybersecurity consulting you receive. A good consultant—usually a managed service IT provider—can help you understand where your most significant vulnerabilities lie in your systems. However, we strongly recommend that every client, no matter their size, have these essential cybersecurity tools—and have them calibrated to work well together.
1. Multi-factor authentication
If your company relies on a single password for signing in, you could be putting your company at risk. Passwords are easy to guess, easy to purchase on the dark web, and easy to steal. So, it’s essential to have a password system that requires more than one sign-in. “Multi-factor” authentication requires a written password and a secondary form of authentication, like a fingerprint. More commonly, it may ask for an additional sign-on through a security app like Duo. You may even want to look into a biometric or passwordless sign-in system. Want to know more? Check out our guide on multi-factor authentication.
2. Cyber Risk Insurance
For many small businesses, the cost of a data breach could be enough to close their business.
Imagine a hack that costs you all your customers’ financial data or exposes medical or banking information. Cyber Risk Insurance can mitigate many losses, paying you back for the business losses associated with cyber attacks. This policy can cost a few thousand dollars a year for most small businesses, but it could save you millions.
However, it is essential to note that insurers have gotten very selective about the businesses they will cover. You must have an array of cybersecurity tools and crisis management policies to qualify for coverage. We don’t sell cyber liability insurance directly. However, we work with you and your insurer to ensure you have the systems to qualify for coverage. This type of insurance is crucial and should be part of any organization’s small business cybersecurity checklist.
At Integris, we don’t provide Cyber Risk Insurance directly, but we have a direct relationship with an insurer who works closely with us. Here’s where you can find out more.
3. Virtual Private Networks
A virtual private network is a critical piece of cybersecurity infrastructure. Whether you have remote workers or not, it should be part of your small business cybersecurity plan. What is a VPN? Put simply, it is a Virtual Private Network (VPN) that protects your connection to and from a computer or network. Think of it this way: when your employee logs into their company computer and connects to the VPN, it creates an encrypted “tunnel” of access. Hackers cannot view the transmission data. Your employee’s original IP address is not visible, either. It’s as if you’ve plugged your computer into your company’s network, even if you’re far away. VPNs are getting more sophisticated every day, allowing employees to work from anywhere. If you don’t have one, the time to get it is now.
4. Staff Cybersecurity Training
Did you know that most corporate cyber attacks originate from employees clicking on a bad link? Companies are currently inundated with phishing campaigns to trick employees into clicking on malware-infested links. Your employees may be your biggest threat. But does your small business cybersecurity plan include regular cybersecurity training and testing for your employees? As a managed service IT provider, we can set you up with many easy-to-administrate, off-the-shelf services that can teach your employees what they need to know. Here’s how.
5. Bring Your Own Device Policies
Most businesses now allow their employees to work on their personal cell phones and tablets. While this can save you money, it comes with many risks. It isn’t easy to monitor the cybersecurity environment on these devices. If you allow employees to use their own devices, you need to address a host of issues. We recommend addressing those in a bring-your-own-device policy. We have a comprehensive guide on what to consider before you write your policy and downloadable policy. Check it out!
6. 24/7 Security Monitoring
Many small businesses hire an IT firm only for break/fix needs. If you’re doing this, you’re missing a key part of your small business cybersecurity strategy: continuous monitoring. The good news is that you don’t have to hire staff to watch your systems around the clock. Managed IT providers can offer fully staffed enterprise-grade, 24/7 monitoring systems. And best of all, they are available at a scalable price for your business.
7. Cloud-Based Backup
If your secondary backup resides on your servers, you could be putting your company’s data at risk. You will have lost everything if there’s a natural disaster or an attack on your servers. Disaster recovery plans are crucial in today’s business environment. Cloud-based backup systems should, in most cases, be an integral part of your cybersecurity plan. The type of backup you’ll need will depend on the types of data you handle. Here’s where to learn more.
8. Protections for your VoIP Phone Systems
Voice over Internet Protocol (VoIP) systems offer businesses many advantages and features. But because they’re carried on the internet, they’re just as vulnerable as your other online data. Through your phone systems, they can hitch a ride into your network overall. Hackers can use it to listen in on calls, make charges on your accounts, impersonate executive text messages, and steal valuable business information. If you have a VoIP system, it should have stringent cybersecurity protections built in.
Do You Need Small Business Cybersecurity Consulting? We Can Help!
If you’re in one of our service areas, we’d love to help you shore up your cybersecurity defenses. Contact us today for a free cybersecurity risk assessment and our downloadable cybersecurity checklist.
