If you're seeking for way to protect your business against data breaches, in this article we will not only guide you with a solution but also educate you on the current security risks. Protecting sensitive information has become increasingly crucial especially for small and medium-sized businesses as the internet has become a global revolution, with practically every transaction ranging from banking to contract signing taking place online. Every small business that obtains data from the individuals it interacts with, is affected by the global data privacy regulatory ecosystem. This includes companies that have a digital presence, such as a website with a contact form, as well as those that preserve paper records.
Data privacy relates to how you collect and use data. It addresses issues such as,
Obtaining your customers' permission to gather, employ, or sell their data
If your privacy policies change, you must give customers adequate notice
Providing individuals with the ability to access and erase their personal data
Data privacy is defined as the appropriate and responsible collection, creation, usage, transmission, retention, and clearance of personal information. It also includes judgments about when, to preserve a person's privacy and confidentiality, not to collect, create, disclose, or allow certain use of information.
Five Solutions for Small Business Security Risks
1. No Adequate Data Security Policies
A small business must examine its procedures to determine whether data security is ingrained in the company's culture. Most businesses are susceptible to attack without a security strategy, and many of them struggle to control breaches owing to a lack of post-breach strategies.
Develop a data storage strategy that becomes the set of rules for all employees to follow, and the policy should encompass the company's data access structure. Keeping audit trails ensures that you can track who has accessed what information and when. Larger data sets also raise the potential of a cyberattack, which businesses must be aware of. It's critical to have a policy in place that ensures that expired or useless data is promptly deleted, and limiting social networking platforms is another crucial step in safeguarding company data.
2. Data Security with a Casual Attitude
The majority of small businesses are unaware of the necessity of data security. As they feel they don't have anything worth stealing, 82% of businesses believe they are not really a target for cyber assaults. In addition, 32% of these businesses believe that a day of outage due to an assault would have little impact on their income. Malicious or criminal attacks are the most prevalent kind of data breach. These businesses do not invest enough in security, and as a result, they are exposed to attacks.
Begin by creating a basic data security strategy that includes not just data protection but also an implementation plan in the event of a breach. To protect your data, patch all of your systems, divide your networks, protect your browsers, enforce data encryption, and employ an email encryption service.
3. Threats from Inside
Employee-caused cyber-attacks could be deliberate or unintentional. When it comes to business surveillance, all personnel must be closely supervised. Employee irresponsibility, in addition to planned attacks, is costing businesses money. Nearly 77% of employees leave their laptops unattended, click on spam sites, or download hazardous software onto their machines. It's no surprise that human mistake is at the root of 95% of all security issues.
Employees would be closely monitored, with unusual conduct being checked and access to vital business data is limited. Employees should be educated and trained on data security to help reduce security breaches caused by human error.
4. Insufficient Data Backup Systems
Do you know that 62% of small businesses fail to back up their data regularly? The causes could be a shortage of infrastructure to backup data on a daily basis. Data backups are essential for any business, regardless of size.
Automate the entire data backup procedure. Use reputable cloud services and other off-site servers to store data in addition to physical drives to maintain data protection even in the event of natural catastrophes, accidents, or theft. If a company is unable to recruit a full-time IT crew, exporting the service, recruiting consultants, or relying on trustworthy third-party systems may be viable options.
5. Benefits and Drawbacks of Mobility
The number of data access points is growing as more businesses implement the Bring-Your-Own-Device (BYOD) concept. Employees are known to store vital company data on mobile devices such as laptops, smartphones, and tablets. These gadgets are easy targets for cyber assaults if they don't have sufficient data protection safeguards in place.
For all mobile devices, create a security checklist and your data protection policies should apply to these devices. As unprotected WiFi networks have been reported to allow data interception, avoid using them and instead use a LAN behind company boundaries if possible.
While reading this article, you might consider additional data-related concerns that your small business faces, such as data sharing. Well, you can overcome those data-sharing problems by integrating your business with reliable data-sharing software. Check out the best data-sharing software providers offered by Steer Through.
Businesses Operating at A Loss Due to Cybercrime
Large companies are well-known for enforcing strict data security rules. Despite this, hackers have exploited the system's flaws. Nothing prevents the same hackers from attacking a small or medium-sized business. The best part is that even the most basic cybersecurity measures are sufficient to prevent the vast majority of striving hackers. When confronted with significant obstacles, cybercriminals would rather switch on to a less difficult target than attempt to overcome them. Of course, things aren't always so straightforward, hence to catch small business owners off guard, cybercriminals are constantly changing their strategies and implementing new techniques. Keep your cyber defense methods up to date if you want to stay a step ahead by using Steer Through's cybersecurity solutions from top solution providers.
Data Protection Made Simple With Steer Through
Whether you are a Startup, SMB, or SME you can make your work on data security risks easy with Steer Through’s data protection category where we offer smart data protection service providers at affordable prices customized for you. We provide a list of companies that provide various data protection features like endpoint security architecture, enhanced detection, autonomous response, network penetration testing, and many more. If you’re not a small business owner but still looking for data security solutions, there are many other marketplaces like SaaSHub, Techjockey, SaaSworthy, GoodFirms, and more that offer service providers for all types of businesses that could be suitable for you. To seek more solutions for your small business in various categories visit https://www.steerthrough.com/.