Why does cybersecurity matter? According to the U.S. Small Business Administration, “Cyberattacks cost the U.S. economy billions of dollars a year and pose a threat to individuals and organizations.”  

Small businesses can be easy targets for cybercriminals, as they don’t have the security infrastructure that larger businesses do. Small businesses are three times more likely to be attacked than larger ones. And according to the CNBC and SurveyMonkey poll, 55% of people in the U.S. say they would be less likely to continue doing business with a brand after a cyber-attack.    

Not only will the cybercriminals steal your data, but they will also steal your current (and potential) business away.   

This lack of digital diligence leaves their business open for attack, and with no protection, and provides easy access to their data for cybercriminals. Here are seven steps you should take today to protect your business: 

1. Strengthening your passwords and enabling multi-factor authentication is a quick and free step to start protecting your business. Remember, strong passwords shouldn’t be easy to guess. The more complex the password is, the better.  
2. Incorporating multi-factor authentication also makes it more difficult for cybercriminals to gain access as it adds an extra layer of protection to your password.   
3. Backing up your data on an external hard drive is important – if the cybercriminals get into your data and decide to erase all of it, you still have an extra copy.  
4. Installing an anti-virus program will help protect against malware and viruses and can also help remove them from your computer if it does become infected. Always make sure that your anti-virus program is up to date, and it would probably be a good idea to turn automatic updates on.   
5. Train your employees in internet usage best practices. Employees and their communication are one of the leading causes of data breaches for small businesses. Show them how to spot phishing emails, safe internet browsing practices, avoid downloading anything suspicious, and protect sensitive information. Some cybersecurity companies like Knowbe4 offer security awareness training and simulated phishing attacks.  
6. Keep your internet connection safe as well. Always encrypt information and use a firewall on your network. If you are using Wi-Fi, add a password to it. You can also set up your router, so it doesn’t broadcast the network name.   
7. Damage control and a recovery plan: if your small business has been compromised, it’s important to contain the damage. Figure out what has been compromised. If there’s any malware, run your anti-virus program to remove it. If any passwords have been compromised, change them immediately. You then need to inform your employees, customers, and vendors about the breach. Being transparent is important, if you try and hide it, their data may be at risk as well. If necessary, get legal advice from a lawyer that specializes in Internet law.   

Cybersecurity threats can be scary but being prepared for any situation can put your business and your mind at ease!