Cyberattacks have become an ever-present threat to businesses of all sizes, and small businesses are particularly vulnerable. Understanding why this is the case and how to defend against these attacks is crucial for any small business owner.

Let’s start with a few primary reasons why small businesses are targets.

Limited resources
Small businesses typically operate with limited budgets and resources, which often prevents them from investing as heavily in advanced cybersecurity measures as larger corporations. Some may rely on outdated software and hardware that no longer receive security updates, making them more vulnerable to exploitation by bad actors. With fewer defenses in place, small businesses present an easier target for cybercriminals.

All data is valuable
Businesses of all sizes handle valuable data, including customer information, transactional details and proprietary business data. While some businesses may harbor the common misperception their company is too small to be a target, criminals think otherwise. Cybercriminals will pursue any information they can parlay for their financial gain through identity theft, no matter where it comes from. This false sense of security often leads to complacency, leaving them without adequate protection.

Ransomware attacks
Whether that’s true or not, businesses operating without reliable data backups or a disaster recovery plan in place are more likely to submit to a criminal’s demands, such as paying a ransom to quickly restore operations. (Read why that’s a bad idea.)

But every business has the opportunity to fight back. Here’s how you can begin to turn the tide.

Implement strong password policies
Enforcing strong, unique passwords and encouraging the use of password managers can significantly reduce the risk of unauthorized access. Implementing multi-factor authentication (MFA) adds an extra layer of security.

Employee training
Regular cybersecurity training sessions for employees can help them recognize phishing attempts, suspicious links and other common methods of cyberattacks. Awareness is a critical defense mechanism against social engineering attacks.

Keep software updated
Once your company’s software, including operating systems and applications, falls out of date with security updates, you become instantly vulnerable to breaches. Stay up to date with the latest patches to close holes cybercriminals might exploit. Further investing in tools such as firewalls and intrusion detection systems can also provide a substantial defense against cyberattacks.

Backup data regularly
Don’t the sun set on the day’s business without backing it up — every day. Regularly backing up data ensures that a business can quickly recover in the event of a ransomware attack or data breach. Backups should be stored securely and tested periodically to ensure they are effective.

Develop an incident response plan
Having a well-defined incident response plan can help a business react quickly and effectively in the event of a cyberattack. The plan should outline steps for containment, eradication, recovery and communication during a security incident.

Engage with cybersecurity experts
Consulting with cybersecurity professionals can provide small businesses with valuable insights and tailored security solutions. Managed security providers (like C Spire) can offer ongoing monitoring and protection that you might not be able to manage on your own.

Cybersecurity is an ongoing process, and staying vigilant is key to protecting valuable business assets and ensuring long-term success.

Learn more about C Spire’s business cybersecurity solutions here.