Saving On Security: How To Find An Affordable Solution To Business Security

Security can feel like a double-edged sword to many small businesses operating on a tight budget. Fail to secure your business and leave yourself open to attacks - which could cause costly damage. But what if you can’t afford to ensure your business adequately? Is it worth getting into significant debt to fend off a cyberattack that may never happen?

The truth is that securing a business doesn’t have to cost a fortune. While investing thousands into outsourced cybersecurity services and ultra-secure cloud storage is possible, robust cybersecurity starts with a few fundamental measures that cost little to nothing. Below are just a few reliable ways to save money on business security. 

Implement strong passwords

A strong password is still enough to fend off many hackers. Make sure to implement a firm password policy. This should include a few key measures:

• Ensure all passwords are long and complex enough (ideally 16 characters). They should also include a mix of uppercase and lowercase letters, numbers, and symbols.

• Use different passwords for different log-ins.

• Regularly change passwords - especially following the dismissal of staff.

Remembering multiple complex passwords that constantly change is no easy feat, so it’s worth using a password manager to keep a secure database of passwords. There are many cheap and free password managers available. Make sure that you share passwords only with those you can truly trust.

Use multi-factor authentication

Multi-factor authentication (MFA) involves adding an extra layer of security beyond a password. This could include:

• A one-time code is sent to a user’s phone

• Facial recognition

• A fingerprint

Adding this extra layer of security ensures that even if a password leaks, a cybercriminal is still not guaranteed access. Many applications offer MFA as an in-built feature at no extra cost.

Regularly update software

Outdated software creates vulnerabilities through which cybercriminals can gain access. It’s essential to keep all business applications updated; most software automatically does this. Once software loses support, upgrade to newer software. At this point, an application will stop receiving updates, making it prone to unresolved bugs and security issues.

Educate your employees

It is essential to teach your employees security protocols. Do they know how to detect email phishing? Do they know how often to change their passwords? Are your remote workers using a VPN? Educating your employees is something you can do for free, and it could have a significant impact on fending off cyberattacks caused by human error or lack of knowledge. 

Seek out specialist advice

Every business should invest in cyber security consultancy. A good consultancy will identify vulnerabilities relevant to your company and suggest solutions within your budget. This tailored advice is much better than simply paying for a one-size-fits-all service.

Back up data

Finally, you should ensure you are backing up all critical data. While you can pay massive amounts to back up data, simple backup options like external hard drives and cheap cloud services are better than nothing—and may be all you realistically need as a small business. This data could be backed up manually or automatically.

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