Top Cyber Security Tips For Small Business Owners

Cyber security became a hot topic issue in Australia virtually overnight. The COVID-19 pandemic triggered an influx of scammers across the globe. Even post-COVID, netizens across Australia have been practicing extra caution when it comes to shopping, studying, and working online. Big businesses are also investing tens of thousands of dollars every year on bolstering their digital defences.

But where does that leave Aussie small business owners? What options are available to you when it comes to protecting your company’s data and digital assets? We’ll be outlining some of the top cyber security tips for all Aussie small business owners to keep in mind today.

Invest in network security tools and infrastructure

Using a VPN has become a popular method for protecting user and device information when accessing the web. But what is a VPN connection, and how can small businesses use it? In a nutshell, VPNs (or ‘virtual private networks’) are security tools that provide device users with an encrypted web connection.

VPNs work by encrypting your communications data and sending it to a VPN server, which is operated by the VPN server’s owner. The VPN server then forwards your encrypted data to its intended destination on the internet, such as a website or online service. This method for encrypting your network connection can help you keep user and device data (like your IP address) private when accessing the web. By masking your device’s own IP (or ‘internet protocol’) address, you can conceal your connection data. Information like your geographical location, internet service provider (ISP) and your browsing history can all stay private when using a VPN.

Firewalls are another piece of useful network infrastructure for small business owners. Unlike VPNs that secure your network connection, firewalls secure your network itself. They’re designed to track network traffic, ensuring that only authorised users can access your office WiFi.

Conduct a thorough risk assessment for your business

Different businesses have different security risks and thus, different security requirements. While finance officers may worry about financial data theft, hospitals and clinics would be concerned about medical records being leaked online. If you’re confused about what the biggest risks may be for your business, then consider conducting a formal risk assessment.

Business risk assessments are typically conducted by hazard management consultants. These professionals work with you to detect the security concerns that currently exist in your business. From here, your hazard management consultant can help create your company’s risk response protocols.

Your risk response procedures should ideally be followed if your business’ security measures have identified a breach. Business owners should organise briefings with their staff to communicate what steps to take in the event of a security breach.

Keep all your software up-to-date

It’s important to keep in mind that network security tools are pieces of software at the end of the day, and not all software is 100% secure. Even antivirus software can come with its fair share of vulnerabilities. That’s why a dynamic and multi-faceted cyber strategy is always best.

We also recommend staying on top of your software updates. On top of enhancing app usability, software updates also provide security patches that address potential vulnerabilities. So setting up auto-updates for your software and devices is just as much a cyber security measure as it is a point of convenience.

For those who aren’t a fan of automatic updates or any auto downloads, then consider setting up alerts for available updates. This way, you’ll always be notified as soon as an app update becomes available for downloads.

Backup company data at routine intervals

Maintaining backups of files and folders is a no-brainer for business owners who seek to protect company and client data. Backups allow your company to maintain data with confidence. If a security breach were to occur in an office with a data backup, you can shut down your network or intranet and still maintain access to the information you need.

But how exactly do you initiate a data backup? There are actually a few options available to business owners here. The first option is to backup data by connecting external hard drives to your office computers. This allows your business to maintain additional data storage on-site, or on your company premises.

The other option is to outsource data management to a dedicated networking or data centre. Data centres are a convenient alternative for businesses who are looking to keep their company and client data secure on a budget.

Use multi-factor authentication and secure passwords

Like firewalls protect your network from being accessed by unauthorised users, strong account passwords can also help protect employee and company accounts online. Strong passwords and dynamic authentication standards work hand-in-hand, making it difficult for hackers to access your company accounts. These security measures are particularly useful for businesses where employees share access to accounts or even access accounts remotely. 

You can set up multi-factor authentication (or ‘MFA’) by setting up security questions for accounts or adding a mobile number to receive authentication requests via SMS texts. Be sure to encourage your employees to set up MFA for their own individual accounts as well.

Keep in mind that in order for passwords to be ‘secure’, they should ideally be updated every few months, or even every fortnight for added security. Password managers can come in handy for keeping track of and even generating new passwords.

Invest in staff training to boost employee awareness

Finally, it’s important to remember that cyber security is a shared responsibility. Your company can still experience a debilitating data breach with even the strongest security measures in place. Because every click has the potential to welcome malware or provide a window for hackers.

That’s why cyber training is non-negotiable today. In fact, business owners should consider their workplace cyber training to be as non-negotiable as emergency evacuation planning. Your employees should be well aware of your workplace cyber protocols and what’s expected of them. They should also be well-versed in the common red flags to look out for online, like spelling and grammar mistakes or misleading pop-up ads.

By communicating the importance of digital security to your employees, you can help reduce the risks of your business experiencing a cyber attack.

One final tip that we’ll leave you with is to reassess your cyber protocols and strategies periodically. The cybersphere is a rapidly evolving space, and hacker methods grow more complex and aggressive every day. You don’t want your business to fall behind the curve when it comes to all things cyber.

With a little due diligence and a desire to keep learning, small business owners can keep their business well-protected in the long term.