A Guide To Cyber Security For Small Businesses

Cybersecurity is one of the most crucial, yet often overlooked, aspects of managing a small business today. With rising rates of cybercrime, it's becoming essential for businesses of all sizes to prioritise their digital safety.

The Cyber Security Breaches Survey revealed that 39% of UK businesses experienced a cyber-attack or data breach in the past year. As cyber threats grow more sophisticated, it’s no longer a question of ‘if’ a breach will occur, but ‘when’.

This guide covers:

1) What cyber security entails

2) Common cyber attack methods

3) Essential steps to protect your business

1. What is Cyber Security?

Imagine your business as a house, with critical systems and data as valuable items inside. Now, consider that without locks, anyone can enter at any time. Cyber security serves as those protective locks, ensuring only authorised individuals can access your business's sensitive information.

Cyber security encompasses tools and practices that safeguard data across multiple devices (computers, mobile devices, and servers) and digital environments. Its core goal is to protect:

• Networks

• Data

• Mobile Devices

• Applications

• Computer Systems

By implementing robust cyber security measures, small businesses can guard their IT systems and ensure their digital assets remain secure.

2. Types of Cyber Attacks

The internet has brought incredible convenience, but it also exposes businesses to numerous cyber threats. Small businesses, often lacking the advanced security measures of larger enterprises, are frequent targets of cyber attacks. Here are the most common types:

Malware – The Root of Most Cyber Attacks

Malware, short for “malicious software,” is a type of software designed to damage or take control of your computer systems. Typically, malware is disguised in files or applications that users inadvertently download or click on. It relies on human interaction, tricking individuals into opening infected files or visiting compromised websites.

SEO Spam

In SEO spam attacks, hackers fill legitimate websites with irrelevant keywords and links to redirect visitors to malicious sites. This can lead to SEO penalties, causing a drop in Google rankings and making it harder for potential customers to find your business online. Sites affected by SEO spam may even be blacklisted, losing up to 95% of their organic traffic.

Ransomware Attacks

Ransomware is among the most damaging types of malware, often encrypting a business’s data and demanding payment for its release. In 2021, 82% of UK businesses hit by ransomware attacks paid the ransom to regain access to their data. This has made ransomware increasingly popular with cybercriminals.

Phishing Scams

Phishing is a form of social engineering that lures individuals into providing sensitive information. Attackers send seemingly legitimate emails designed to manipulate recipients into clicking harmful links. May 2021 marked a record 440% spike in phishing attempts, demonstrating its growing threat.

DoS and DDoS Attacks

DoS (Denial of Service) and DDoS (Distributed Denial of Service) attacks flood websites or databases with fake traffic, causing crashes and preventing legitimate users from accessing them. Imagine competitors sending hundreds of fake customers to block your store entrance—that’s what DoS attacks achieve by overloading your digital systems.

SQL Injection Attacks

SQL injection attacks target databases, adding malicious code to SQL queries to gain access to sensitive information. This attack is particularly common in online systems that use SQL for data management, such as e-commerce sites.

Weak Passwords and Brute Force Attacks

Brute force attacks involve automated programs attempting different password combinations to access a system. Weak passwords make it easier for attackers to gain unauthorised access, compromising both business and customer data.

Insider Threats

An often-overlooked risk, insider threats come from individuals within the organisation who misuse their access to data. Insider threats are challenging to detect and prevent, making it essential to have strong monitoring and security protocols in place.

3. Steps to Prevent Cyber Attacks

With cyber attacks targeting businesses more frequently, it’s crucial to take proactive steps to safeguard your business:

Implement HTTPS and SSL

Using HTTPS ensures data transmitted to and from your website is secure. By obtaining an SSL certificate, your business can prevent cybercriminals from intercepting sensitive information.

Keep Your Website Updated

Regular updates to your website’s software, plugins, and security settings are essential to protect against vulnerabilities. Many businesses overlook this simple step, making them easy targets for hackers.

Secure Passwords

Encourage employees to use complex passwords that combine letters, numbers, and symbols, and consider multi-factor authentication (MFA) for added protection. Secure passwords make it harder for attackers to break into your systems.

Regular Backups

Frequent backups ensure you can restore your data in case of a cyber-attack. The 3-2-1 backup rule is recommended: keep three backups, save them on two different media types, and store one copy offsite.

Invest in Cyber Insurance

Cyber insurance policies are tailored to help small businesses manage the financial consequences of a cyber attack. A comprehensive cyber insurance to cover costs associated with data breaches, system damage, and loss of business.

While cyber insurance won’t stop attacks, it can provide peace of mind and financial protection should an incident occur.

Train Your Team

Educating employees on cyber security best practices is crucial. Cyber attacks often exploit human error, so regular training can make your team the first line of defense.

Top Tip: Make cyber security training a regular part of staff communication, including updates in company newsletters or bulletins.

Protecting Your Business from Cyber Threats

Cyber threats are an ever-present risk for small businesses. By staying vigilant, keeping software up-to-date, using secure passwords, and training your team, you can significantly reduce the chances of a cyber attack. Taking these steps not only protects your business’s digital assets but also strengthens trust with your customers.

For more information on securing your business, explore our cyber insurance page and learn how business insurance can support your unique security needs.