Why small businesses need cyber security companies now more than ever

As the world becomes increasingly digital, small and medium sized businesses are now facing more cyberthreats than ever before. From devastating data breaches to vicious cyberattacks, the protection of sensitive information has become a prime concern for business owners. However, not every small business has the experience or resources to hire its own team of cyber security professionals.

Fortunately, this role can be outsourced to companies offering cyber security services, like 127 Solutions. With an understanding that small businesses often have their own unique needs, we offer tailored advice, support, and solutions to fit in with them. From providing protection from potential threats to ensuring businesses remain resilient and safe, our expertise with technology enables us to safeguard sensitive data, as well as detect and prevent cyberattacks with continuous monitoring.

In this blog, we’ll take a detailed look why cyber security is so important for small businesses and what experts in the field can offer.

What are the cyber security risks small businesses face?

Often, small business owners mistakenly think that because of their size, they aren’t at risk of cyberattacks. However, this is far from the truth. Small businesses are viewed as easy prey by threat operators as they often lack the same level of security as large corporations deploy, which makes them vulnerable. Cybercriminals use this weakness and actively target smaller businesses to obtain access to data.

From financial files to client and supplier information, small businesses retain and use a wealth of sensitive data that is ripe for exploitation. Additionally, the increase in remote and hybrid working and the greater dependence on cloud services has also created fresh opportunities for cyberattacks when companies are unprepared. As a result, it is vital for small businesses to get to grips with the evolving threat landscape and be proactive. This starts with taking measures to protect their company and the data in its care.

What are the consequences of a cyberattack?

Cyberattacks can be catastrophic for firms when they succeed. If systems and devices become infected, they can be out of action for hours or even days, disrupting company productivity and resulting in a loss of profit. If hackers manage to access, interfere with, or delete sensitive personal information on customers or partners, it is considered a data breach and must be reported to the Information Commissioner’s Office (ICO). All data subjects whose information was exposed must also be informed.

If the ICO finds a small business has neglected to take sufficient measures to secure data, it has the power to issue massive fines. On top of such penalties, companies may have to compensate their customers and pay for expensive remediation measures and forensic investigations to determine how a breach happened.

However, cyberattacks can have far greater harm if they become public information. They can damage the reputation of a company and the trust it has built with its customer base.

What cyber security steps can your company take on its own?

While working with a company offering cyber security expertise is essential when you lack an in-house specialist, as a small business owner you can still take measures to improve your current security standing.

There are many best practices you can adopt on your own, which include enforcing stronger password protocols. Don’t allow you team to create their own passwords; instead, issue suitably complex codes for them to use and change them regularly. If you are unsure what a strong password consists of, consider the National Cyber Security Centre’s (NCSC) advice. It suggests that you take three unrelated words and combine them to make a single password that is easy to remember but tough to crack.

Educating your staff of cyber security as soon as they join your company is also advised. Ensure they understand what a phishing email is, for example, and who they should report to should one arrive in their inbox. While phishing mail may seem like just a nuisance, it can contain serious threats. If your staff click on a malicious link or download a bogus attachment, you could find your system under siege from a computer virus, spyware or ransomware.

How can a cyber security company help?

Here at 127Solutions, we can help ensure that your apps and operating systems are updated and that any information in your charge is protected. We can also provide you with documentation and official accreditation to support this as proof to the ICO that you have fulfilled your obligations regarding data protection.

Our key cyber security services include enterprise grade anti-virus software to keep your machines free from harm, along with Cyber Essentials Plus and Cyber Essentials accreditation. We also provide a security patch and update management service and solutions to keep your network secure. This includes web content filtering and email security. Contact us today for more information.