As a small or medium-sized business, cybersecurity may not be the first thing that comes to mind when it comes to running your business. However, with the rise of cybercrime and the increasing amount of sensitive data that businesses store online, it is more important than ever to ensure that your business is protected. In this blog post, we will look at some of the cybersecurity issues that SMEs should be aware of and how to mitigate them.

There are many cyber threats your small business should be on the lookout for, including phishing, malware and ransomware attacks.

Phishing attacks involve sending fraudulent emails or messages to trick users into providing sensitive information such as login credentials, credit card numbers or other personal data. These attacks can be difficult to detect as they often appear to come from a legitimate source. SMEs can protect themselves by ensuring that all employees are trained to recognise phishing emails and by implementing two-factor authentication wherever possible. You can also use anti-phishing software, which can help detect and prevent phishing attacks by scanning emails and websites for suspicious content. It’s important to choose a reputable anti-phishing solution and keep it updated with the latest threat information.

Malware is a type of software that is designed to damage or disable computers and computer systems. SMEs can be vulnerable to malware attacks as many small businesses may not have the resources to invest in robust cybersecurity measures. Malware often exploits vulnerabilities in outdated software, so make sure that all software is kept up-to-date and that antivirus software is installed and updated regularly.

Not every staff member needs to have access to all data and information. Consider using access to controls to minimise risk from malware attacks. Access controls are security measures that limit the access that users have to certain parts of a system. By implementing access controls, small businesses can limit the damage that malware can do by restricting the access that it has to critical systems and data. You can also ensure that employees cannot install new programs or software on their computers without approval from an administrator.

Another risk is people reusing old passwords or ones that are easy to guess. Ensure that all employees are using strong passwords that are difficult to guess or crack, and prompt them to change their passwords on a regular basis.

Small businesses are particularly vulnerable to ransomware attacks because they often lack the resources and expertise to implement strong cybersecurity measures. Ransomware is a type of malicious software that encrypts files on a victim’s computer or network, and then demands payment in exchange for the decryption key. If a small business falls victim to a ransomware attack, it can be devastating, potentially leading to the loss of critical data and the disruption of day-to-day operations.

One of the main ways that you can protect against ransomware is by implementing a robust backup strategy. This means regularly backing up all important files and data to an external hard drive or cloud storage service. If a business is hit with a ransomware attack, they can then simply restore their data from the backup, rather than paying the ransom. It is essential to ensure that backups are taken frequently and are stored securely, so that they cannot be compromised in the event of an attack. 

Businesses of all sizes need to take cybersecurity seriously in order to protect their business and customers from cyber attacks. By being aware of the risks and implementing appropriate measures, such as training employees to recognise phishing emails, keeping software up-to-date, and using strong passwords, SMEs can significantly reduce their risk of being targeted by cybercriminals. If you need help with business digitalisation or implementing cybersecurity measures, don’t hesitate to get in touch with the Lincoln Be Smarter team – you can email us at lincolnbesmarter@lincoln.ac.uk or book an online meeting below.