Small businesses often face certain restrictions to installing security systems, such as small staff and limited budget. However, this also means a harder time recouping the cost of a data breach, where sensitive information and customer trust are compromised.

No business is free of cyber security threats without putting strongholds in place. Luckily for small businesses, there are ways to implement cyber security without reaching beyond your means. But first, learn why small businesses should pay attention to this threat.

Cyber Threats to Your Small Business

Today’s rapidly expanding technology and digital landscape make cyber security an issue for all businesses, but small businesses should pay special attention. Sixty percent of all small companies that suffer a cyber attack go out of business within six months.

Recovering from a cyber attack is costly. Upgrading equipment unexpectedly, hiring specialists who attempt to recoup lost data and losing the business of loyal customers put a financial strain on what may already be a tight budget.

Furthermore, cyber criminals often target small businesses due to the assumption of poor cyber security. According to a 2016 report, half of all small businesses were hacked in the span of one year.

Keep your business safe by taking the proper precautions. Read on for cyber security tips specifically for small businesses.

Cyber Security Know-How

To implement cyber security without an enterprise’s budget and resources, consider the following tips:

  • Conduct a cyber threat assessment.Do a thorough review of your network assets, such as network performance metrics and malware monitoring, determining where weaknesses lie. Evaluate your needs before looking for a fix to find a solution that’s just right for your business.
  • Be efficient and cost-savvy with the solutions you implement. Look for ways to enhance safety without breaking your budget. For example, did you know that you can implement multiple networks, keeping private data apart from other data, without separate broadband connections? This technique can save time and money. Do your research to cut costs without risking a data breach.
  • Implement policies, and hold everyone accountable. Create cyber security policies for your company and its employees. Include guidelines on password strength, remote work and bring-your-own-device (BYOD) options. This establishes a culture of cyber safety that will follow your business as it grows.
  • Above all, find a security vendor who understands your needs and is respectful of your budget. Work with them closely to continuously build up your cyber security over time, scaling your security services appropriately as you grow.

Cyber security is not one-size-fits-all. Construct your business’s security plan with your specific needs in mind.