The importance of cybersecurity for small businesses

As the world becomes increasingly digitized, protecting your data is of the utmost importance. Anyone who has personal information online is at risk of being hacked. And small businesses are no exception. Cybersecurity is a growing threat — and a lucrative business. It's believed that cybercrime generates more profit than the global illicit narcotics trade. Estimates say it'll be worth over $1.5 trillion in just three years' time.

These numbers aren't derived exclusively from attacks on large corporations. Small businesses are equally — if not more so — at risk. Here, we discuss why it's crucial for SMEs to focus on their digital infrastructure's safety, and how to go about it.

Why cybersecurity is important for SMEs

As a small business owner, you may not think your data is worth a cybercriminal's time. Maybe you assume it's not worth your while to invest in cybersecurity. It's this thinking that makes small to medium enterprises (SMEs) prime targets for cybercriminals. SMEs are at greater risk of hacking precisely because their information is so easy to steal.

Cybercriminals target small businesses far more frequently than you might think.

In fact, in 2021, it was reported that just over three-quarters of small businesses fell victim to cyberattacks. The reality is that most small businesses simply don't have the knowledge or resources to protect themselves. But, as cybercriminals become increasingly sophisticated and adept at their craft, SMEs will seriously have to focus on enhancing their digital defense systems.

How to improve your cybersecurity (within reason)

There's a multitude of ways you can elevate your cybersecurity without breaking the bank. Here are just a handful:

The first is the most obvious: You likely get those automatic notifications to update your antivirus protection programs, which include firewalls and virus scanners. As annoying as it is, let your laptop's operating system install those updates as they also help bolster your defenses.

Secondly, make sure your network is covered. All your digital devices will likely be operating on a shared connection. If just one's security is compromised, your whole infrastructure is at risk. If your antivirus solutions don't span the entirety of your tech setup, invest in one that does. On a similar note,  ensure your WLAN's (wireless network, a.k.a. Wi-Fi) security is up to date.

Lastly, back up your files regularly. There are plenty of incredibly secure cloud storage options available provided by tech giants like Google and Apple. You can even choose to operate on their software entirely, which will circumvent some of your network cybersecurity issues.

If you're unsure about the legalities of cybersecurity or how they might pertain to your business, reach out to the Law Offices of Donald W. Hudspeth, P.C.

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