Cybersecurity Matters: Why Small Businesses Shouldn’t Overlook It
Cybersecurity measures for small businesses tend to be overlooked by many of our clients. We’ve all copped the dodgy emails that are clearly trying to get you, but we’ve also opened emails that are so well-designed that we did hover over the link.
Here’s everything you need to know about this deal and why cybersecurity is not something to shy away from as a small business owner.
Table of Contents
What is Cybersecurity?
Cybersecurity is the practice of protecting systems, networks, and data from cyber threats such as hacking, phishing, malware, and data breaches. It involves using a variety of strategies and tools to protect business data, secure networks, and ensure that sensitive information stays private.
Small businesses, in particular, face significant challenges when it comes to securing networks and systems due to limited resources and lack of expertise. However, failing to implement the right cybersecurity measures can result in devastating consequences.
Why Cybersecurity Is Non-Negotiable for Small Businesses
Small businesses often underestimate the importance of cybersecurity, but the risks are real and growing. The increasing complexity of cyberattacks and the sophistication of cybercriminals mean that no business is too small to be targeted. Here’s why investing in cybersecurity solutions is essential for small businesses:
1. Small Businesses Are Prime Targets
Hackers know that small businesses often lack sophisticated security measures, making them easier targets. Breaches can lead to data theft, financial loss, and reputational damage.
As a small business owner, you might not think you’re a target, but cybersecurity risks are increasing across the board, and cybersecurity breaches can cause irreparable harm.
2. Mobile Devices Are Vulnerable
Many business owners and employees work on mobile devices, often on public Wi-Fi networks. Cybercriminals can exploit these unsecured networks to steal sensitive data. Using cybersecurity software like Norton’s secure VPN can protect your devices by encrypting your connection and keeping your information private. Encryption is a crucial cybersecurity policy to safeguard your business.
3. Phishing Scams Are on the Rise
Phishing attempts—through fake emails, texts, or websites—are one of the most common types of cyberattacks. These scams can trick unsuspecting users into revealing login credentials or financial information. Cybersecurity software (as Norton) helps detect and block phishing attempts before they harm your business. Using advanced firewalls and antivirus software can help defend against these threats.
4. The cost of a Breach Is High
For small businesses, a data breach can be devastating. The cost of a breach includes not only the immediate financial loss but also the long-term damage to customer trust. Small businesses often spend thousands recovering from attacks, not to mention the potential legal costs and loss of reputation. Proactive protection through cybersecurity solutions is far more cost-effective than dealing with a breach after the fact.
5. Compliance and Trust
Customers expect businesses to protect their personal data. Having strong cybersecurity measures in place shows you value their privacy and builds trust. This is essential for retaining customers and ensuring that your business complies with data protection regulations.
How Can Small Businesses Protect Themselves?
There are several key steps that small businesses can take to protect themselves from cybersecurity risks and ensure that their operations remain secure:
1. Understand The Risks
Understanding your business’s cybersecurity risks is essential in developing an effective strategy to protect against potential cyberattacks. Small businesses must evaluate the vulnerabilities in their network and identify the most relevant cybersecurity threats specific to their industry. Conducting a cybersecurity risk assessment will help highlight key areas that require attention, ensuring the business data is secure and the business operations are safeguarded.
2. Secure Devices & Network
Protecting your network is essential in the battle against cyber threats. Use firewalls and data encryption to safeguard your internet connection. Additionally, ensure that your Wi-Fi network is secured with a strong password and is not broadcasting your Service Set Identifier (SSID). Regularly monitor and update security settings to stay ahead of cybercriminals. Install security software to prevent unauthorised access to your devices and protect sensitive data.
3. Update IT equipment and software
Outdated systems pose a major cybersecurity risk to small businesses. Regularly updating your IT security software, operating systems, and applications ensures that your network is always equipped to handle the latest cyber threats. Most updates include patches that fix known vulnerabilities, helping to protect your business from evolving cyberattack strategies.
4. Backup All Data
One of the best ways to protect your business from a cyberattack is to have reliable data protection in place. Regularly backing up important files, including customer data, financial records, and sensitive business information, ensures that your business can recover from any data loss due to a cybersecurity breach. Storing backups in a secure, off-site location or cloud security service guarantees that critical data is safe from unauthorised access.
5. Educate Staff
Cybersecurity breaches often occur due to human error. Employee education is a vital step in mitigating risks. Ensure all employees are trained to recognize common phishing scams, avoid suspicious websites, and practice safe online security habits. This training should be part of a broader cybersecurity policy that includes guidelines on the safe handling of business information.
6. Implement cyber security policies and procedures
Establishing clear cybersecurity policies for your employees helps ensure consistent protection. These policies should include rules for creating strong passwords, using two-factor authentication, and limiting access to sensitive data to only those who need it. Enforcing these policies creates a security system that shields your business from cyber threats and data breaches.
7. Use Trusted Technologies
Adopting trusted technologies is a proactive way to reduce your cybersecurity risks. Whether it’s encryption software for protecting data or firewall solutions for network defence, using reputable software from trusted providers ensures your business is well-guarded. Avoid downloading apps or systems from unverified sources, as these could harbour malware that could compromise your operations.
From phishing scams to ransomware attacks, no business is too small to be a target. We have partnered with Norton to help you guard against potential issues and protect your business and your clients or customers. Norton’s industry-leading solutions provide robust cybersecurity that keeps your data secure and minimises risks, allowing you to focus on growing your business with peace of mind.
Future Advisory (FA) is offering a 60-day free trial of Norton Small Business Premium (covering up to 10 devices)—a robust cybersecurity solution designed for businesses on a budget.
The Norton Small Business Premium Offer For Cybersecurity
- What you get: A 60-day free trial of Norton Small Business Premium, covering up to 10 devices (PCs, Macs, or mobile devices)
- Added bonus: Activate the trial, and you’ll qualify for a $20 Officeworks gift card through a dedicated portal. Claim your gift card here
- No obligation: You can try Norton free for two months with no purchase required afterwards
- Exclusive renewal discount: If you choose to continue after the trial, the first renewal price is $189, down from $349—a massive saving for Future Advisory clients
Do Small Businesses Need Cybersecurity Insurance?
Many small business owners ask, “Do small businesses need cybersecurity insurance?” The answer is “Yes”.
Cybersecurity insurance can help cover the costs associated with cyberattacks, including data breaches, legal fees, and recovery costs.
What is Cybersecurity Insurance?
Cybersecurity insurance is designed to protect small businesses from the financial losses that result from cyber threats. Any small business with an online presence, whether it’s a website for transactions or storing client data, is vulnerable to cybersecurity risks like malware attacks, phishing scams, and data breaches. Cybersecurity insurance helps mitigate the risks associated with these threats and covers costs from cybersecurity breaches that could otherwise harm a business’s financial stability, reputation, and business operations. Whether your network security is compromised or data protection is breached, cybersecurity insurance offers protection against these growing threats.
What does Cyber Insurance cover?
A cyber insurance policy covers various costs related to cyberattacks. These can include:
Covers first-party losses, such as:
- Costs to restore systems
- Expenses to recover data
- Notifications to victims of a privacy breach
Provides coverage for third-party liabilities, including:
- Financial losses caused by a cyberattack affecting clients or suppliers
- Coverage for data breaches at partner companies
Offers access to expert assistance, such as:
- Incident response specialists to manage recovery
- Legal advice to navigate regulatory or compliance issues
Supports activities like:
- Conducting a forensic investigation of the attack
- Enhancing network defence to prevent future cyber threats
- Securing data encryption for sensitive business information
Helps ensure business continuity by:
- Providing resources for cyberattack prevention
- Offering strategies to safeguard business operations
Don’t wait until it’s too late—investing in cybersecurity will save your business from potentially devastating consequences. Now! Protect your business, your clients, and your future with Future Advisory’s exclusive offer. Get a 60-day free trial of Norton Small Business Premium and ensure your business stays secure.
