By Davis Merrey
September 10, 2024
Preventative cybersecurity business measures
In 2023, 41% of small businesses were victims of cybersecurity attacks, up from 38% in 2022 and 22% in 2021. Even with this knowledge, most small businesses do not have a cybersecurity plan or cybersecurity insurance.
The Central Oklahoma Manufacturers Association recently asked me to present some proactive steps business leaders can take to reduce the risk of these issues with a reasonably low investment. I am also sharing them with you.
Compromise credentials are the most common cause of breaches, so businesses should follow several best practices. First, use a password manager to avoid password duplication. Second, implement multifactor authentication (MFA) for logins, which helps verify your identity. Finally, employ security awareness training so your employees won’t be tricked into giving away their login credentials.
To avoid external threats, the second most common cause of breaches, businesses should adopt some key practices. A managed firewall is essential for blocking intrusions, while managed antivirus and antimalware services help prevent hacks into your computers and networks. Additionally, regularly patching (updating) your operating system and applications will strengthen security and improve performance.
Even with these measures, businesses are still at risk of breaches and intrusions. Therefore, it’s important to consider implementing a business continuity plan, which includes backup and recovery services for operating systems, applications, and data. Cybersecurity insurance is another critical consideration, as it will help offset the cost of recovering from a breach and may even qualify your company for new business opportunities.
Small businesses face many challenges, and one of the most costly and disruptive is recovering from a cybersecurity breach. Start at the top of the list above and implement as many of these best practices as you can afford, then set aside funds to add more protection over time. Your business and reputation deserve it.
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About Davis Merrey
Davis, is Owner/CEO of TeamLogic IT of Oklahoma City, part of an international network of franchisees providing IT support for businesses. He brings many years of experience in a variety of technology related industries, leading teams in providing technical solutions that respond to critical customer needs. The company culture is defined by its Mission Statement: “To help our fellow employees and clients be successful”.
Davis earned a BS in Electrical Engineering from the Virginia Military Institute and an MBA in Management from Golden Gate University in San Francisco. He serves on several business related and non-profit boards of directors.