Print   RSS

Cyber Security Should Never Be a Small Matter

Tristan Anwyn

July 09, 2015

How secure is your cyber security plan?

As a small business owner, a decent cyber security plan is one of the most important things you can put in place for your business. A cyber security breach can have catastrophic knock on effects, especially if you're not prepared.

Why is a cyber-security plan so important, and how can you go about building one?

Cost of Cyber Attacks

 The cost of cyber-attacks is on the increase.

The Ponemon Institute reports that the average annual cost to small businesses of dealing with cyber-attacks is $12.7 million - 96 percent more than it was five years ago.

As well as the monetary cost to your business, you also need to think about the cost to your time and your reputation.

Dealing with a cyber-attack will cost you time that could have been spent on your core business practices.

At least some of your staff will have to dedicate time to dealing with it. Your productivity will drop, especially if one or more devices is out of commission as a result.

You also run the risk of a damaged reputation, which you really can't put a dollar value on.

If your customers' data is compromised, or their business with you is slowed down as a result of an attack, your reputation will suffer. That kind of damage can be hard to come back from, making a solid cyber security plan a necessity for your business.

Assess Your Threats

The first step to building a solid cyber security plan is to assess the potential threats to your business.

Some of the common areas to look at include:

• Malware. As the article "No Business Is Too Small for a Cyber Security Plan" points out, malware is one of the major threats to small businesses;
• Data security. Your customers are trusting you with their data, so the onus is on you to make sure it is safe, secure and private at all times;
• BOYD. Many small businesses participate in BOYD (bring your own device), but be aware that your staff members' phones and tablets could pose a security risk;
• Wi Fi vulnerabilities. Wireless networks can be hacked by hackers who drive around looking for vulnerabilities, an activity known as wardriving.
  

Draw up Your Plan

Once you have a clear idea of the potential threats, it's time to start putting a plan in place. Some topics to cover include:

• Installing virus protection and firewalls, and making sure they are regularly updated;
• Keeping all software up to date;
• Regular security scans and checks for any suspicious activity;
• Encrypting customer data to keep it secure;
• Regular data backups in case of data loss;
• Security for mobile devices such as remote locking;
• Secure passwords and ensuring that sensitive data will only be handled by those who really need to see it.

Once you know what your solutions are, it's time to build them into a workable plan.

For example, what should be the first course of action if a threat is detected? How will you check for threats, and how often will you do it? 

Be sure to include who is responsible for the different elements of cyber security.

If you don't, your staff will likely assume that someone else will take care of it. Make clear who is taking care of it, and who to turn to in the event of a breach.

Educating your staff about your plan and why it matters to them, and getting their input is vital - making cyber security a team effort will help strengthen your cyber security plan.

Don't take a chance on cyber security - make time to devise and put in place a solid cyber security plan to protect your business.

 Feedback   Submit Article