Cybersecurity for Entrepreneurs

The internet has infiltrated everyone’s lives and most businesses today use computers in their operations. So, it’s important to know about cybersecurity to protect yourself. If you know the risks, how to avoid attacks, and what to do if hackers attack you online, you can protect your business.

Types of Cyberattacks

While the ways that hackers can access your systems are unlimited, there are a few main types of cyberattacks:

  • Phishing. These attacks come in emails that appear to be from someone you know but aren’t. They can distribute viruses or other malware on your system.
  • Password attacks. In this type of assault, the hackers use one of many methods to figure out your passwords and gain access to your systems. 
  • Ransomware. The user downloads a malicious program that makes their computer system inaccessible until they pay a ransom to the hackers.

What’s at Risk?

Globally, cyberattacks are the biggest risk for businesses in 2022. To begin, they have a financial impact: tech teams go into overtime, you may need to pay a ransom, and you may face legal and public relations expenses. Additionally, when production or services are unavailable, you face losing revenue. Depending on the information and systems breached, it may permanently damage your business’s reputation, and some customers will take their business elsewhere. For some companies, if the attacks have a big enough impact, they may even close down for good.

Avoiding Cyberattacks

One of the best ways to avoid cyberattacks is to train your employees. They should know how to spot suspicious downloads or emails, set secure passwords, and use multi-factor authentication. When your employees are aware of best practices, your chances of attack go down dramatically. 

Additionally, a huge part of IT security is the need to protect your sensitive data. Do this by processing and storing payment data with secure providers and using a computer you don’t browse the internet with for all payment processing. Make backups of all important data and store it either in the cloud or in a separate location. It is best to make these backups weekly and process them automatically so you don’t forget them.  

A Hacker Attacked You: What Next?

If an attack occurs, immediately contact your cyber insurance company. These experts can help you figure out what to do and who to contact next. You will likely need to work with legal specialists, as well as involve law enforcement. These experts help discover the attack’s origin and what data is compromised. You may need to contact customers, vendors, and others working with your business depending on what systems the hacker attacked. 

Once you resolve the attack, your business needs a recovery plan. Prioritize planning which applications are essential to operations and need recovery first. Make a timeline that tells what you need to do and how long it should take, so you have clear expectations. Also, specify who will be responsible for what actions during this recovery phase. 

Protect Your Business

Now that you know a bit more about cybersecurity, you can protect your business. Remember that things change online all the time. Keep updated on current threats and advances in cybersecurity to stay safe. Check out the Saby Tech blog for more information on technology and trends.

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