It's no secret that small businesses have become prime targets for cybercriminals who exploit their limited security resources and assume they're easier to breach.
However, small businesses are only as vulnerable as they allow themselves to be: complacency, rather than size, is often the real culprit behind successful attacks. With small business owners already managing countless responsibilities and pressures, developing comprehensive cybersecurity policies can feel like a daunting challenge. Nevertheless, building these protective frameworks remains crucial for safeguarding sensitive data, maintaining customer trust, and ensuring your business's long-term success.
This guide will offer practical advice on building strong cyber security policies for your small business. We’ll outline common threats, the basics of policy creation, implementation strategies, and how to respond to incidents effectively.
Why cybersecurity matters for small businesses
Cybersecurity best practices and policies are essential for all businesses, and smaller organisations are no exception. The cost of poor cyber security can be crippling for a small business: from financial fraud to the loss of customer trust, the risks posed by complacency far outweigh the effort required to build basic operational policies for your team. As workplaces increasingly shift online and employees spend most of their time connected to company networks, protecting sensitive data has become a top priority.
A well-structured cybersecurity policy is not as hard to achieve as it sounds. As long as your policies are inclusive of three key areas: complying with regulations (such as GDPR), protecting customer data, and preventing costly system downtime, they are considered (in most cases) sufficient.
Although small businesses lack the resources of large enterprises, they can still significantly reduce their cyber risk by implementing basic yet effective security practices and incorporating these into their policies.
First, let’s outline common cyber threats small businesses might encounter.
Understanding common cyber threats
Cyber threats come in a broad range of forms, and that’s what makes them so imposing to small businesses. However, there are some relatively common ones businesses are likely to encounter, and a good understanding of these provides a solid foundation for building policies that protect against them. These threats include:
- Phishing Attacks: Deceptive emails or messages designed to trick recipients into revealing confidential information.
- Malware: Malicious software that can damage or disable systems, steal data, or give attackers remote access to networks.
- Ransomware: A form of malware that locks data or systems until a ransom is paid.
- Unauthorised Access: When someone gains access to systems or accounts without permission, often due to weak passwords or a lack of two-factor authentication.
Knowing and recognising these threats- and their possible impact on your organisation- is the first step necessary in building effective cybersecurity policies. What exactly is a cybersecurity policy?
Building a cybersecurity policy for your small business
A cybersecurity policy, in short, is a document that outlines your company’s approach to protecting digital assets. It also defines how employees should manage data and devices, providing both clarity for your team and reassurance to clients that data protection is a priority for your business.
Key elements of a good policy include:
- Password Management: Enforce the use of strong, unique passwords and regular updates.
- Multi-Factor Authentication (MFA): Require MFA for accessing sensitive systems and information.
- Data Protection: Outline how sensitive information should be stored, accessed, and transmitted.
- Device Use: Define rules for using business and personal devices for work purposes.
- Third-Party Access: Set security requirements for contractors and vendors who access your systems.
Tailor your policy to fit your operations, and review it regularly to reflect emerging threats and changes in your business.
Implementing security measures
Implementing security tools and software is essential for ensuring the protection of business data and systems, ranging from company accounts to your entire network.
Small business owners should look to invest in reputable security tools, such as firewalls and antivirus software, to secure their networks and protect information.
Additionally, employees should be trained on how to use security tools and follow best practices for defending against potential risks. There are many tutorials available on how to use and implement security tools, and IT teams can also take the initiative to provide training and best practice guidelines for fellow employees.
Security audits, such as penetration testing, can also provide valuable insights into vulnerabilities that may not be apparent through standard security measures. These assessments help small businesses identify weak points in their systems, prioritise security improvements, and demonstrate compliance requirements, ultimately strengthening any overall cybersecurity policy framework by providing continuous insight into what's working and, more importantly, what isn't.
Protecting against phishing attacks
Phishing attacks are a prolific kind of security attack, known for preying on small businesses due to their assumed lack of employee education or defensive strategy.
However, a small business can significantly boost its protection against phishing attacks with a few simple, effective steps.
Employee training: Once again, employee training is at the core of any robust cybersecurity policy. Employees should be trained to recognise suspicious emails and phishing attempts, through either online resources or internal IT professionals.
Implement spam blockers: The implementation of spam blockers can reduce the risk of phishing attacks and filter out potentially dangerous content.
Look into pentesting or phishing simulations: By simulating a phishing attack, businesses can assess their employees' responses, enabling them to flag areas of weakness in understanding and implement future security measures to minimise future risks.
Incident response and reporting
Even with all of these protective measures in place, it's still crucial for businesses to have an incident response plan as part of a well-considered cybersecurity policy.
Small businesses should have a clear process for reporting cybercrime and incidents, as well as clearly defined 'first responders' or points of communication when flagging a potential incident.
Regular training and drills ensure that employees are prepared to respond to cyber incidents and feel safe and well-prepared in doing so.
Legal and regulatory compliance
Small businesses must comply with laws and regulations related to cybersecurity and data protection to protect sensitive customer information.
Regulations such as GDPR and HIPAA are essential for businesses that handle personal, financial, or health data, regardless of the scale of your operations. Understanding these legal obligations helps businesses implement proper security practices and avoid penalties, saving business owners from devastating fines and operational disruption.
Regular audits and risk assessments are important for identifying risks, updating policies, and ensuring ongoing compliance. Staying informed about changing regulations allows small businesses to maintain strong data protection practices, build customer trust, and create secure environments.
This proactivity, in turn, boosts operational productivity and the long-term health of your organisation by setting you up for success. It's always optimal to establish best practices from the very beginning of your business's development, and regulatory compliance can significantly support the transformation of a PDF of policies into a proactive security culture at your workplace.
How OnSecurity can help
Small businesses shouldn't feel isolated in mitigating the risk of cyber attacks as they build organisational policies. Regular penetration testing ensures compliance without placing additional strain on small business owners by highlighting potential vulnerabilities in their processes swiftly and efficiently.
OnSecurity's bespoke pentesting platform offers CREST-accredited testing services to complement all budgets. Find out how we can support your pentesting programme today.
