What happens when a company's IT security fails?

While news about a small company being victimized by a ransomware or virus attack might fly under the radar, larger enterprises might suffer millions of dollars in material losses and the cost of disruption of business. This sort of disaster would certainly make the news. We've all seen it.

Not All Publicity Is Good Publicity

You sure don't want your small business to be part of the news for reasons like this.

IT security has never been more important. But with tight budgets, small businesses often wonder if IT security is something they can afford.

The truth is that good IT security doesn't have to be expensive or complicated - there are plenty of ways for your business to stay safe without breaking the bank. In this blog post, we'll discuss how you can implement IT Security on a budget so that your company stays safe even when finances are tight.

An Unfortunate Reality

Ransomware and other types of attack are on the rise, targeting all sorts of companies. Victims range from large institutional entities like banks and shipping companies, to small businesses of all kinds, and even unthinkable targets like hospitals and charity organizations.

All types of business are 'on the table' for attack, so to speak. IT security is a must. No organization with information worth protecting should neglect implementing strong security for their network and infrastructure.

Where Is Your Data Held?

The first step for IT security is understanding where your data lives (and who has access). This will help you protect it more effectively. Is it being hosted on a secure cloud services such as Microsoft Azure? Or is it only stored on a ten year old hard drive on a dusty server in a broom closet?

IT Security should include both preventative measures and detective measures. Moving your data to a secure location means that you won't have to worry about losing all your data to hardware failure. Detective measures ensure that your system can make automated responses to security breaches.

That's why a good IT security strategy will have a mix of all the elements you need to keep your systems safe: antivirus, firewalls, malware protection (including ransomware), encryption software like AlertBoot, etc. There are lots of components to good security systems!

Let's Be Real Here

Having IT security doesn't mean that you're immune to attack, but it means that it will be much harder for cyber criminals to break through your defenses. The harder it is for a hacker to penetrate your systems, the more likely your business - and your data - will remain secure.

Furthermore, IT security is not only about the IT department. Everyone in your organization should be aware of cybersecurity and how it works. That's where employee training comes into play.

Phishing Attacks, Unauthorised Access, And So On

For example, your employees should be aware of, and know how to identify, phishing scams. Phishing emails are among the most concerning types of you should make sure that, when someone says to click on a link or open an attachment, your employees are really clicking on what they think they're clicking on!

Preventing human error with staff training is just one of many ways small organisations can help address your company's security needs. After all, when your small staff is wearing many hats to keep the business going, they'll need to have elevated levels of awareness to fend off potential risks.

Let's Also Be Real About The Budget

Every small business knows how important it is to run a tight ship when it comes to the budget. Even if money is short, however, think of the consequences of losing information, having your business flow disrupted, or losing the confidence of your clients and suppliers.

It's helpful to think of IT security not as a bill or an expense, but as an investment in the continuity and security of your business. Preventing even a single cyber attack will more than recoup every pound invested in security!

IT Security Is Important.

It can't be overstated. Cyber security is vital to businesses of all sizes, not just big corporations. The cost of cyber security tools, even when it isn't very expensive at all, often deters small business owners from adequately protecting their stored personal information.

Finally, remember that besides being concerned with the risk of criminal attack, your company should also be aware of the consequences of breaching GDPR security requirements. This can result in fines levied against your small business if it is found to have been holding personal information in an insecure manner.

Where Do I Begin?

IT systems are complex, and so it's no wonder that these solutions have become a kind of target for cyber criminals.

There are plenty of ways for complex systems to fall victim to cyber criminals, and small, nontechnical organisations are often considered to be easier targets. Small organisations are often perceived to employ weaker cyber security methods and can

Budget, Budget Budget

In addition to fending off ransomware and other attacks against the company's infrastructure, small organisations often have to deal with the reality of trying to do it all with a shoestring budget.

But in reality, implementing solid IT security doesn't have to be expensive or difficult. In fact, there are many steps you can take even when your budget is tight. We'll discuss a few of those steps right now.

Don't Ignore IT Security, Even When You Have To Spend Carefully

One of the first things that small organisations often do is completely ignore IT security- or at least they try to make it as cheap and unobtrusive as possible. The problem with this approach? IT security that isn't carefully considered is IT security that will fail.

Just because you are trying to save money doesn't mean no IT security at all is the answer. Rather, look for opportunities to spend smartly- on things which will make your business better off even if they don't directly impact IT security themselves.

A cyber security breach isn't just inconvenient. It can also be very expensive to fix, or result in lost business. IT security is an issue that small organisations everywhere need to take seriously — not just for the sake of keeping information safe, but also because it can have a major impact on revenues.

Time Is Money, Spend It Wisely

The first thing you can invest in IT security with is your time. It doesn't cost money to implement a strong password policy, for example. If you're running a simple, small Windows domain for your IT infrastructure, such a requirement can be set up with only a few clicks of a mouse.

There are many more things you can do to improve security without

What else should a small business do to protect their infrastructure and investments? That's where Cyber Essentials comes in.

What Should I Know About Cyber Essentials?

Basically, cyber security is the practice of protecting information in IT systems from unauthorized access. Cyber Essentials is a government-backed cyber security certification that helps small businesses understand which cyber security measures are important for them to implement.

The idea is to guide small businesses who may not have the and how they can protect themselves against the most common types of cyber attacks, data breaches, and other types of risk.

The good news? Even if your budget is tight, Cyber Essentials can still help you protect your business against the latest threats, even when your employees are using their own mobile devices to carry out daily tasks!

Cyber Essentials Certification

In order to achieve Cyber Essentials certification, your company must implement a number of steps mandated by the government in order to ensure that your company, and your employees, are taking reasonable steps to ensure data security and mitigate risk.

Once these measures are met, you can submit for Cyber Essentials certification for your business. Achieving Cyber Essentials certification is a simple first step you can take toward implementing small business cyber security, even if you have to start without the help of cyber security professionals.

You Don't Have To Be The Target

Once properly implemented, Cyber Essentials helps protect your IT systems and data against ransomware, viruses and other types of cyber attack that can wreak havoc against companies, from start ups to larger enterprises alike.

Remember, the viral nature of these attacks mean that your business can be victimized even if you're not being targeted specifically. That means that even if you haven't crossed the wrong people, your business still could be vulnerable!

What About Cyber Essentials Plus?

Cyber Essentials Plus is the advanced IT security standard that's actually required of public bodies like the NHS. It includes all of the requirements for Cyber Essentials, but adds additional controls to protect against certain types of attacks (for example, it requires device configuration settings and employee IT training).

Furthermore, achieving Cyber Essentials Plus certification status involves a third-party audit of your network to ensure that security standards are met. This ensures that not only has your company taken the steps to implement proper IT security, but that your work has been checked!

Cyber Essentials Provides A Roadmap Toward Greater IT Security

Would you hop into a car and drive somewhere without knowing how to get to there? Or would you rather get the directions before even turning the key?

The basic standards laid out by Cyber Essentials and Cyber Essentials Plus can be looked at as a roadmap for your business to go from point A to point B - that is, to go from less secure to more secure by following a step-by-step process that addresses basic security concerns.

Peace Of Mind Is Just One Of Many Benefits

Once you've implemented these basic security concerns, you'll be able to breathe a little easier knowing that you've done some of the most important work to ensure that your business is protected from cyber attack and that your important data remains secure.

Additionally, Cyber Essentials is a useful guide to help ensure your business is meeting legal compliance requirements in terms of data protection law - something that could save you money if your business happens to get audited by regulators.

GDPR Regulations And Your Business

After all, GDPR regulations are no joke. Fines for inadequately protecting sensitive data can be levied against your business, up to 4% of your annual global turnover in fact for serious breaches. Would you rather spend your company's money on improving IT security, or would you rather just pay the government with it?

According to GDPR, authorities can fine businesses for egregious violations of up to €20 million, or 4 percent of worldwide turnover for the preceding financial year—whichever is higher. That's how Amazon found themselves staring down the barrel of a €746 million fine in July 2020 for non-compliant data protection procedures.

If Amazon isn't too big to fine, is your business too small? Most assuredly, the answer is no!

It's Actually Not Very Expensive

While GDPR fines can be massive, IT security doesn't have to be. In fact, the provisions in Cyber Essentials and Cyber Essentials Plus can be implemented for free or at a very low cost.

For example, enforcing a strong password policy, enforcing software updates, and implementing firewall protection on devices are two examples of provisions that can be done just with relevant Windows components. So is implementing a virtual private network (VPN) for your remote users.

Furthermore, advanced security coverage such as EDR (Endpoint Detection and Response) measures are not expensive on a per-device basis either, and service providers are willing to work with small businesses by offering packages tailored to the company's size. You won't have to buy 50 licenses to cover 5 computers!

A Growing Industry - And That's A Bad Thing

Implementing good IT security doesn't have to be expensive. That's the good news, because the bad news is that it's more important than ever to do so. Here is some more detail about the situation:

• Phishing emails containing ransomware content have increased by over 97% in the past four years.
• In 2019, hackers demanded an average of just over £60,000 in ransom following a successful ransomware attack.
• Of those successful attacks, over 40% of businesses had no recourse but to pay the ransom.
• Many businesses who did not or were not able to pay ransom had their personal data posted on the 'dark web'.

With ransomware and other attacks on the rise, it's more important than ever to protect your network and infrastructure against predators. Fortunately, Cyber Essentials certification can demonstrate in a simple, clear-cut manner how to do just that.

Your Customers Will Thank You

In the online era it's never been more important to protect your data, because your data is also your customers' and suppliers' data.

Unfortunately, hackers are using ransomware and other attacks to target customers as well as businesses. If a data breach compromises your customer data, hackers may have access to credit card information, shipping addresses, and personal data that belongs to your clients.

You Wouldn't Want It Happening To You

That means that protecting yourself and your company is also helping protect your customers and suppliers as well. Fortunately, you'll be able to let your customers and suppliers know that you're dedicated to protecting their sensitive information.

You'll Want Them To Feel Confident

Cyber Essentials and Cyber Essentials Plus certification comes with, among other things, the right to put the relevant Cyber Essentials logos on your marketing material, website and other points of customer contact.

This lets your customers know that you realize that implementing cyber security, and protection from cyber attacks, is a priority for you and your business.

They'll Appreciate Your Due Diligence

When your company is taking measures to mitigate security risks and fend off cyber crime, your customers will appreciate the extra layer of confidence that protection inspires.

Your data is important. So is your customers' data. They'll be more confident in doing business with you when they know their information is secure. When they see the Cyber Essentials logo on your materials, they'll know cyber security is a priority for your business.

After all, why take the risk? If they can feel comfortable that your business won't fall victim to cyber crime, and each employee in your company knows how to mitigate risk, they'll be more likely to take advantage of your services.

The Best Time To Start

Security starts with your business's hardware and software. In today's market, it is virtually impossible to run a successful small business without IT resources in place.

Your IT infrastructure houses all of the information that makes up your business: from customer details and financial records to your strategic plans for future.

That's why the best time to start prioritizing security is yesterday. But today is the second best time, and if your business hasn't started to implement the security measures that will keep your sensitive information secure, it's never been easier to begin.

Security is Right For Any Company

Companies of all sizes, from small organisations to larger enterprises and everything in between, face the same cyber security challenges. That's why IT support like Cyber Essentials exist - they want to help you protect your business without breaking your budget or business plan.

Of course, keeping a lean budget is important to start ups. But the cost of poor IT security can be devastating for a company.

The Effects of Cyber Crime

A successful cyber attack can break small business owners financially, or destroy critical files and even subvert unsophisticated backup solutions. An email virus attack could spread across your IT network and infect all of your computers, making it impossible for your employees to carry on with business until the virus is contained. And so on.

When your business is targeted by cyber criminals, and a data breach occurs, your company is now at the mercy of those criminals. Many companies find no recourse other than to cave into their demands no matter how ruinous they may be.

An All Too Familiar Story

Does this sound familiar? It should, because it keeps happening over and over again. The more you can do to protect your business, the less likely the next story will be about your business in the first place.

IT security is not just the problem of software companies or the government. It should be your priority as small business owners, managers and cyber security professionals to ensure proper security measures are taken by IT personnel so that these risks can be minimized and controlled.

It's Easier Than Ever To Prevent Data Breaches And Malware Infections

Cyber Essentials and Cyber Essentials Plus make it simple for small businesses to implement cyber security. That means there's no reason not to bring your system up to par today.

Your business depends on you to mitigate security risks and protect it against cyber attacks. Be ready for the future - invest a little in security today, and secure your company against cyber attacks for today and forever.

Wondering how Endpoint Detection and Response (EDR) can safeguard your small business? Learn how EDR can detect and respond to threats effectively, bolstering your cybersecurity posture. Click here!

Protect your business's IT infrastructure from cyber threats. Learn the importance of proactive measures and strategies  to immunize your IT systems against potential attacks. Click here!