Cyber Security for Small Businesses

Unfortunately, small does not always equal safe. Cyber criminals look for the path of least resistance and, oftentimes, that leaves small businesses as the target. In fact, a 2018 Verizon Data Breach Investigations Report found small businesses make up 58% of cyber attack victims.

Cyber attacks can be devastating for small business owners and overwhelmingly difficult to recover from financially. Many small business owners worry making necessary cybersecurity protocol improvements would be cost prohibitive.

Even without the financial resources to bring in outside experts, there are proactive, budget-friendly measures that can be taken now to mitigate cyber risks.

Here are 10 simple steps for small business owners to begin reducing the risk of falling victim to a costly cyber attack.

1. Require employees to complete regular cyber security training. Include cyber security protocols in company handbooks. Mineral can assist IBA Clients with this training and information.

2. Set up individual user accounts for each employee and prohibit sharing account information.

3. Limit employee access to data and restrict the authority to install software.

4. Use complex passwords and multi-factor verification. Change passwords often.

5. Secure workplace Wi-Fi networks and use a firewall for internet connections.

6. Do not allow employees to conduct business or use company devices on public Wi-Fi networks.

7. Install and regularly update antivirus and antispyware software on every computer and device used for the business.

8. Keep operating software systems and applications updated. Install updates as they become available.

9. Regularly back up copies of important business data and information.

10. Contact IBA to review your cyber liability insurance policy to ensure your small business is well protected.

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