Large companies often have whole departments dedicated to maintaining both physical security and cybersecurity. But cybersecurity for small businesses? That might be just one more thing that the owner has to do — arranging alarms and cameras to guard against theft and purchasing software that helps to guard data, for example.
Especially when it comes to cybersecurity, breaches for solo enterprises or small companies can have disastrous effects. According to findings from the Federal Communications Commission, American small businesses annually lose an average of $79,841 because of cyber breach incidents.
Whether you’re running a coffee shop or working as an independent consultant, a small business security and cybersecurity plan can be tailored to protect your — and your customers’ — information and assets. Consider these security and cybersecurity tips to help keep your business safe for years to come.
Start with the basics
Any network for business use, be it at home or in a physical location, should require a strong password and authentication to deter data breaches. In addition, consider a security monitoring system; there are lots of installation options either by a company or with cameras and monitors you purchase yourself. Finally, make sure you’ve connected with your State Farm® agent about any business-specific policies that provide coverage for loss or liability.
Boost card reader safety
Whether you’re using a traditional credit card machine or a mobile reader, securing credit card data is essential. Maintain up-to-date software; those fixes often address security flaws. And if you haven’t already transitioned to an EMV-compliant device for reading chip cards, consider doing so for an added layer of protection.
Understand how thieves work
Cyber thieves and traditional thieves prey on small business owners in the same way: They pay attention and capture details they can use to their advantage. They may try unsolicited phone calls, phishing emails and physical misdirection. Be aware of their methods and invest in software-protection services, too.
Reassess, reassess, reassess
As your business changes, your security and cybersecurity needs will change, too. Set a time on your work calendar — either every six months or yearly, for example — to re-evaluate your assets (and policy coverage) and any threats to data.