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Regardless of a business’s size, it remains susceptible to cyber attacks. However, small businesses tend to be more vulnerable compared to larger ones.

This vulnerability can be likened to how the most dangerous predators find it easier to target small and weak animals rather than larger and stronger ones. Similarly, cyber criminals often find it easier to exploit SMBs and startups rather than well-established firms in the market.

If you’re a startup or small business owner, you know that running your own company means wearing many hats. From handling finances to marketing your brand, you’re constantly juggling multiple tasks at once.

With so many responsibilities, it’s easy to overlook important things like cybersecurity. However, the consequences of a data breach or cyber attack can be devastating for your business, your customers, and your reputation.

That’s why it’s crucial to have a comprehensive cybersecurity checklist to protect your sensitive information, systems, and assets.

In this blog post, we’ll cover the essential items on a small business cybersecurity checklist that you can implement today to minimize your risk and stay secure. So, sit back, and let’s dive into the world of cybersecurity together!

Cybersecurity risks faced by SMBs and startups

When we consider the advantages in terms of monetary value, data, and other benefits that cybercriminals can have by threatening, we always presume that bigger companies are the ideal prey. But, the truth is that startups and small businesses are prime targets for cyber attacks.

In fact, small and medium-sized businesses (SMBs) and startups are often seen as easy prey by hackers, precisely because they typically have weaker security measures in place compared to larger enterprises.

According to the annual research released by IBM Security, the average cost of the data breach amounted to 4.35 million US Dollars in 2022, which is the highest of all time. It is an increase of 2.6% from 2021.

Out of the total number of organizations that faced the data breach, 83% of them had more than one breach. As a consequence, 60% of the organizations had to increase their prices that were passed to customers.

I am aware that these data are overwhelming and alarming. But here’s something that can make you forget these worries!

A cybersecurity hygiene checklist for startups and SMBs

This a detailed checklist to help you ace the cybersecurity defense for your organization.

Create an information security policy
Build a security education framework
Enforce better passwords
Set up a centralized security system
Ensure lost devices can eb wiped remotely
Invest in an enterprise grade firewall
Setup MFA
Monitor server and network equipment
Perform a vulnerability assessment

Let’s look at this in more detail.

1. Create an information security policy

A cybersecurity policy is a crucial document that outlines your company’s approach to protecting your information assets from cyber threats. It should cover all aspects of cybersecurity, from physical security to data protection, and provide clear guidelines for employees to follow.

Here are some important elements that should be included in your cybersecurity policy:

Let’s understand;

Introduction: Start with an overview of the policy’s purpose and scope, and explain how it will help protect your company from cyber-attacks.

Roles and Responsibilities: Clearly define the roles and responsibilities of all employees with regard to cybersecurity. This will help ensure that everyone understands their role in keeping your company safe.

Acceptable Use Policy: Explain what is and is not acceptable use of company resources and systems, including the Internet and email. This will help prevent employees from accidentally compromising your company’s security.
Data Protection Policy: Establish guidelines for how sensitive information should be collected, stored, and shared. This will help prevent data breaches and protect your customers’ privacy.

Password Policy: Establish guidelines for creating and using strong passwords, and explain how employees should manage their passwords to ensure they are secure.

Incident Response Plan: Define procedures for responding to a cybersecurity incident. This will help ensure that everyone knows what to do in the event of an attack, and can help minimize the impact of any damage.

Training and Awareness: Outline training requirements for all employees, including cybersecurity awareness training. This will help ensure that everyone is aware of potential threats and how to prevent them.

Compliance and Auditing: Establish procedures for monitoring compliance with the policy, including regular audits. This will help ensure that everyone is following the policy and provide a way to identify any weaknesses that need to be addressed.

2. Build a security education framework

Educating employees on security best practices is crucial for small businesses and startups to prevent cyber threats.

The first step is to identify the risks and threats that your company faces, such as phishing attacks, malware infections, or social engineering attacks.

Once you know the risks, you can develop learning objectives that are specific, measurable, and achievable to help your employees develop the knowledge and skills needed to protect your company.

To develop engaging training content, you can use different formats such as videos, quizzes, interactive scenarios, and other types of content that suit your employees’ learning styles.

After developing your training content, establish a training schedule that outlines when and how the training will be delivered, whether it’s in-person or online.

It’s important to measure the effectiveness of your training program and evaluate whether it’s achieving its learning objectives.

You can assess employee knowledge before and after training, gather feedback from employees, or track metrics such as the number of security incidents or the rate of employee compliance with security policies.

By following these steps and building a security education framework that meets the specific needs of your company, you can help ensure that your employees are well-equipped to identify and respond to potential cyber threats, protecting your company’s information assets.

3. Enforce better passwords

One of the simplest yet most effective ways to improve your company’s cybersecurity is to enforce better password practices among your employees.

Weak passwords are a major vulnerability that hackers can exploit to gain access to your systems and steal sensitive data.

By enforcing strong password practices, you can significantly reduce the risk of a successful cyber attack.

Here are some key steps you can take to enforce better passwords.

Set password requirements: Establish a password policy that requires employees to create strong passwords. This policy should include requirements such as minimum length, complexity, and how often passwords should be changed.

Use multi-factor authentication (MFA): MFA adds an extra layer of security to the login process, requiring users to provide additional information beyond just a password. This could include a fingerprint or a code sent to their phone. If you want to know more about MFA, check out this article: [Article link]

Educate employees: Provide training on password best practices, such as not sharing passwords with others, not using the same password for multiple accounts, and not using easily guessable information (such as their name or birthdate) in their passwords.

Use a password manager: A password manager can help employees create and store complex passwords securely, making it easier for them to comply with your company’s password policy.

Regularly review and update password policies: Password policies should be reviewed and updated regularly to ensure they remain effective against evolving cyber threats.

4. Set up a centralized security system

Setting up a centralized security system is an important step for any startup or SMB looking to improve its cybersecurity posture. A centralized security system involves using a single tool or platform to manage and monitor various security aspects of your organization’s IT infrastructure.

Here are some key components to consider when setting up a centralized security system for your startup or SMB.

Anti-virus and anti-malware software: Installing anti-virus and anti-malware software on all company devices, including desktops, laptops, and mobile devices, is a critical component of a centralized security system. This software helps detect and prevent the spread of malicious software that can compromise your company’s data and systems.

Operating system and software updates: Keeping all operating systems and software up to date with the latest security patches and updates is an important way to protect against known vulnerabilities and exploits.

Firewall: A firewall is a network security system that monitors and controls incoming and outgoing network traffic based on predetermined security rules. Installing a firewall can help protect your organization’s network and systems from unauthorized access and attacks.

Intrusion detection and prevention: Intrusion detection and prevention systems (IDPS) are designed to identify and respond to potential security threats in real time. These systems monitor network traffic and log any suspicious activity, helping security teams detect and respond to potential attacks quickly.

Security information and event management (SIEM): A SIEM system is designed to collect and analyze security event data from various sources across an organization’s IT infrastructure. By centralizing this data, security teams can quickly identify and respond to potential threats.

5. Ensure lost devices can be wiped remotely

Protecting company data and systems is critical, especially in the event of lost or stolen devices. One way to mitigate the risk of data loss or unauthorized access is to ensure that lost or stolen devices can be wiped remotely.

This means that if an employee loses a device such as a laptop or mobile phone, you can remotely erase all the data stored on that device to prevent it from falling into the wrong hands.

This capability can be a part of a mobile device management (MDM) system that can remotely manage and secure company-owned mobile devices.

By implementing this feature, you can safeguard sensitive information and ensure that it doesn’t end up in the hands of cybercriminals or malicious actors.

Additionally, it’s essential to communicate this policy clearly to employees and ensure that they understand the importance of reporting any lost or stolen devices immediately. Doing so can help you protect your business and maintain the trust of your customers and stakeholders.

6. Invest in an enterprise-grade firewall

An enterprise-grade firewall is a crucial component of any comprehensive cybersecurity strategy for startups and SMBs. It helps protect your network from unauthorized access and other malicious activity by analyzing network traffic and enforcing security policies.

Investing in an enterprise-grade firewall means that you’re getting a high-quality solution that’s designed to meet the needs of a small business. These firewalls come equipped with a range of features, including intrusion prevention, content filtering, and VPN connectivity, all of which can help safeguard your network against cyber threats.

By installing an enterprise-grade firewall, you can gain peace of mind knowing that your business is protected against potential attacks. It can also help you comply with regulatory requirements and maintain the trust of your customers and partners.

That said, it’s important to choose a firewall that’s appropriate for the size and complexity of your business. Working with a qualified IT professional can help you select the right solution for your specific needs and ensure that it’s configured and maintained properly for maximum effectiveness.

7. Setup multi-factor authentication

Setting up multi-factor authentication (MFA) is an essential step in enhancing your small business or startup’s cybersecurity. MFA is a security mechanism that requires users to verify their identity by providing two or more pieces of evidence before accessing a system or application. This can include something the user knows, such as a password or PIN, something they have, such as a security token or mobile phone, or something they are, such as biometric data.

By implementing MFA, you can significantly reduce the risk of unauthorized access to your sensitive data and systems. It adds an extra layer of security that makes it much harder for cybercriminals to gain access, even if they have managed to obtain your user’s login credentials through a phishing attack or other means.

To set up MFA, you’ll need to choose a solution that fits your needs and budget, and then follow the provider’s instructions to configure it properly. This may involve installing an app on your user’s mobile devices or issuing physical tokens, and then setting up rules to require MFA for certain applications or systems.

While MFA may add an extra step for your employees when logging into systems or applications, it’s a relatively small inconvenience compared to the potential damage caused by a data breach or other cyber attack.

Ultimately, the added security provided by MFA can help protect your company’s reputation, financial stability, and customer trust.

8. Monitor server and network equipment

Regularly monitoring your server and network equipment is crucial for the security of your startup or small business. By keeping an eye on performance metrics like CPU usage, memory usage, network bandwidth, and application performance, you can quickly identify vulnerabilities and suspicious activity.

Tools like network monitoring software, intrusion detection systems, and log analysis tools can be helpful for effective monitoring.

The main goal of monitoring is to catch security threats early, such as unusual traffic patterns, suspicious login attempts, or unexpected system changes. Addressing these promptly prevents potential damage and maintains a secure environment.

Monitoring also improves overall business operations by optimizing system performance and minimizing disruptions.

Conducting vulnerability assessments, similar to security audits, is essential for protecting your company against cyber threats. These assessments identify and mitigate vulnerabilities in your systems, applications, and network infrastructure, allowing you to strengthen your defenses and safeguard sensitive information.

Read on here to know more about Why Should Startups Consider Penetration Testing?

Here are some key steps involved in performing a vulnerability assessment.

Identify the assets to be assessed: The first step in a vulnerability assessment is to determine which systems and applications you want to assess for vulnerabilities. This could include your website, databases, network devices, and other critical assets.

Conduct a vulnerability scan: Once you’ve identified the assets to be assessed, you’ll need to conduct a vulnerability scan using specialized software tools. These tools will identify potential vulnerabilities such as outdated software, misconfigured settings, and weak passwords.

Analyze the results: After the scan is complete, you’ll need to analyze the results and prioritize the vulnerabilities based on their severity and potential impact on your business.

Develop a remediation plan: Based on the results of the vulnerability assessment, you’ll need to develop a remediation plan that outlines the steps you’ll take to address the identified vulnerabilities. This could involve installing security patches, updating software, or implementing new security controls.

Retest and verify: Once you’ve implemented the remediation plan, it’s important to retest and verify that the vulnerabilities have been successfully addressed. This ensures that your systems and applications are secure and protected against potential cyber threats.

By performing regular vulnerability assessments, you can identify and address potential security vulnerabilities before they can be exploited by attackers. This helps to keep your company’s sensitive information and assets safe and secure.

Put your security infrastructure to the test with SecureLayer7’s vulnerability assessments

Are you concerned about the security of your company’s digital assets? Worried about the potential risks of cyber-attacks and data breaches? It’s time to put your security infrastructure to the test with SecureLayer7’s vulnerability assessments!

Our team of expert security professionals will conduct a comprehensive review of your organization’s IT systems and applications, identifying potential vulnerabilities and security gaps. We use the latest tools and techniques to simulate real-world attack scenarios, giving you an accurate and in-depth understanding of your company’s security posture.

Our vulnerability assessments are designed to provide actionable insights and recommendations for improving your security infrastructure, so you can protect your business from cyber threats and stay ahead of emerging risks. With SecureLayer7, you can have peace of mind knowing that your digital assets are secure and protected from potential threats.

Don’t wait until it’s too late – contact SecureLayer7 today to schedule your vulnerability assessment and take the first step towards a more secure future for your company.