Does your SME use cyber security? According to some of the most recent research, one in five SMEs don’t employ any cyber security at all. In fact, unless it’s a technology business, cyber security provision may not even have occurred to the management of many. There is a lot to think about when you’re running an SME. However, this is an approach that can lead to disaster, especially as the number of cyberattacks increases by around 20% year on year.

What are the risks of not using cyber security for SMEs?

• SMEs often struggle to recover from cyber attacks. The recovery time can take a long time, particularly for smaller enterprises that may not dedicate enough time to preparation and risk mitigation. Compared to larger businesses, SMEs generally face a more challenging recovery process, making the importance of preventive measures even more pronounced.
• Data loss remains a serious issue. Most cyber attacks today target data, and its loss can have severe repercussions for businesses of all sizes. The loss of critical information, ranging from confidential customer details to business plans, can create significant challenges. Ensuring adequate protection against cyber attacks is not only vital for the business itself but also crucial in avoiding the legal fines that might result from a successful data breach without required safeguards.
• Ransom demands can have catastrophic consequences. Ransomware attacks are among the most frequent cyber threats faced by businesses today. The demands can be particularly overwhelming for SMEs, which may not have ready access to the large sums often demanded. The cost of recovery from such an attack can be prohibitively high for most small businesses, highlighting the importance of strong preventative measures.

How can you improve cyber security in your business?

• Implement regular backup and protection of all your files. This gives you an alternative data source in the event of an attack and can enable the business to get back up and running again more quickly.
• Plan for cyber attacks. Most SMEs don’t have a cyber security plan, which means that when an attack happens there is a lot of panic and not much action. Your plan should cover everything, from how to spot an attack to how to train employees to respond effectively.
• Outsource cyber security support. Internal cyber security for SMEs is often not viable due to budget constraints. Outsourced support, however, can be tailored to the exact needs of your enterprise at a cost that is affordable.
• Take a healthy approach to passwords. It’s so basic and yet so essential. Stolen, or guessed, passwords are a big reason for a successful cyber attack so regularly changing passwords and using complex passwords is a protective measure.

From fines for data breaches to the costly downtime that can result from a successful cyber attack, these are just some of the risks when there isn’t robust implementation of cyber security for SMEs.

Secure your business’s future with CyberHive

Protecting your business from cyber threats shouldn’t be a secondary concern; it’s becoming increasingly essential every day – but you don’t have to navigate this complex terrain alone. By outsourcing your cyber security support to CyberHive, you gain access to tailored, expert solutions that fit your budget without compromising on security. We understand the unique challenges faced by small and medium-sized enterprises, and our dedicated team is ready to offer the robust protection your business deserves.

Don’t leave your company exposed to cyber security risks; get in touch today.