Small and midsize businesses (SMBs) are finally coming to the realization that cyberattacks aren’t only aimed at large enterprises. They’re discovering that attacks can happen to them too—and frequently do. SMBs have fewer resources to dedicate to cybersecurity, often making them more vulnerable to attack and therefore more attractive to cybercriminals.
Research bears this out. In a recent survey by the Small Business Administration, 88% of small-business owners said they believe their business is vulnerable to a cyberattack. Additionally, many of these businesses said they don’t have the budget to pay for solutions and have limited time and resources to devote to cybersecurity.
At the same time, organizations that are increasingly concerned about the risk to their business don’t know where to begin. If that’s the case for your business, you can begin with these four steps.
GET 24/7 CYBERSECURITY MONITORING
Today, there are a growing number of managed detection and response (MDR) service providers that can help organizations continually watch for any incoming threats (detect), and then take action (respond) to security incidents if and when they happen.
ENABLE MULTI-FACTOR AUTHENTICATION
With millions of passwords constantly stolen and made available to attackers, multi-factor authentication (MFA) is one of the most important security features you can use to protect your company. MFA provides an extra layer of security and makes stolen passwords useless by requiring a ‘second factor,’ such as a security token or your phone, to provide access to your email or business applications.
PUT AN INCIDENT RESPONSE (IR) RETAINER IN PLACE
If a security breach happens, it’s vital to have a plan in place that will quickly guide you through your response and mitigate any damage. The plan should outline the procedures your company will follow in case of a successful attack, as well as the roles and responsibilities of the employees who will complete those tasks.
PUT A VULNERABILITY MANAGEMENT PROGRAM IN PLACE
A large number of security incidents occur when hackers take advantage of software flaws, known as vulnerabilities. Discovering and prioritizing vulnerabilities can be difficult for organizations that are already spread thin. However, these aspects of vulnerability management can also be delivered by an MDR service provider.
FINAL TAKEAWAY
A lot of SMBs still think they’re not big enough to interest cybercriminals. This has been proven false.
The good news is that by taking a few basic steps, you can greatly reduce the risk of an attack and keep your business on the path to growth.
The original content of the note was published on Fastcompany.com. To read the full note visit here
