Strengthening cybersecurity in small businesses - practical steps for immediate impact, by Zair Kamal - Director, Client Development and Cyber Specialist

From my personal interactions with our clients and claims team, it’s clear that most SMEs are lacking cyber protection.  

Cybersecurity is often seen as an expensive luxury. In reality, the cost of recovering from a cyber attack far outweighs the investment needed to protect against it.  

So, what proactive steps can businesses take to boost their cybersecurity? Here are some essential, actionable measures: 

1.     Employee training is the first line of defense   

Employees are the gatekeepers of an organization’s digital assets. Human error is one of the most common entry points for cybercriminals, so regular training is critical. Equip your team with the knowledge to recognize and avoid threats such as phishing emails, suspicious links, and other common attack vectors.   

Make sure employees understand the value of strong passwords and cybersecurity best practices in their daily routines. Additionally, ensure cybersecurity protocols and documentation are accessible to all employees, reinforcing a culture of awareness. 

2.     Deploy firewalls and VPNs

Implement essential tools like firewalls and VPNs (Virtual Private Networks) to safeguard your network. Firewalls act as a barrier between your internal network and external threats, blocking unauthorized access. VPNs add another layer of protection by encrypting data and masking users’ IP addresses, making it much harder for cybercriminals to intercept sensitive information.

3.    Revoke access for former employees

When an employee exits your organization, it’s crucial to immediately revoke access to all company systems. Deactivate their accounts and update any shared passwords tied to company applications.

4.     Regular software updates 

Keeping your software up-to-date is a simple and effective way to protect against cyber threats. Software updates often include critical security patches that address newly discovered vulnerabilities. 

5.     Back up your data

Regular backups ensure that even if you suffer a breach or ransomware attack, you can quickly restore your systems and data with minimal disruption. Secure and regularly test these backups to confirm they’ll work when needed most. 

6.     Invest in cyber insurance 

Cyber insurance is an increasingly vital component of a comprehensive risk management strategy. Look for policies that cover key areas such as data compromise, computer attack, extortion, misdirected payment fraud, and cyber liability. In the unfortunate event of a cyber attack, having a well-structured cyber insurance policy provides access to both financial support and expert guidance, helping your business recover faster, with less financial strain.  

With these practices in place, you’ll be better positioned to protect your business from the growing landscape of cyber threats. Remember, proactive defense is always more cost-effective than reacting after an attack.