Cyber Security for Small Business

Abstract graphic of a cyber lock in front of a business conference

Cyber security threats for small businesses

Keeping your small business safe from cyber security threats is becoming harder as the sophistication of these threats increase and are often almost undetectable. The areas of your business at risk includes:

  • Customers records and information
  • Financial records and information
  • Marketing plans/documentation
  • Business plans/documentation
  • Intellectual property
  • Employee records
  • Product design
  • Patents
  • Emails

Read on to learn where to start in tackling cyber security for small business.

Common types of online threats to your business

The most common cyber threats we see small businesses targeted with includes:

  • Phishing – the use of fraudulent emails to encourage victims to voluntarily hand over sensitive information under the belief the email is from a legitimate source.
  • Malware – software designed to infiltrate a computer system and either take data or install destructive software.
  • Ransomware – software which makes data unusable until the victim pays a ransom to the cyber attacker.

When a cyber attack occurs and customer information is impacted, their trust in you and your business can quickly diminish.

How a cyber attack can affect your small business

If your small business falls victim to a cyber security attack it can bring detrimental financial, legal, and reputational effects. Any losses to a small businesses bottom line or customer base can create issues that can result in irreparable reputational and monetary damage.

Financial

The financial effects of a cyber security attack can see many small businesses close their doors. This loss of revenue due to cyber-attack usually results from:

  • Costs to reinstate a secure computer network
  • Theft of bank and/or card details
  • Disruption to trading
  • Loss of business
  • Theft of money

Reputation

Without trust, your clients cannot place their business, and money in your hands. When a cyber attack occurs and customer information is impacted, their trust in you and your business can quickly diminish. This breach of trust often leads to a loss of customers, sales, and an overall reduction of profit.

Legal

Under the Privacy Act 1988 it is your responsibility as a business owner to keep your customer’s information private. This means that if any of your customer’s information is affected during a cyber security breach, you could be facing legal ramifications.

How cyber attacks can happen

Cyber attacks can happen a lot easier than you may think. These attacks may occur by:

  • Third-party system attacks
  • Theft/access to devices
  • Email spam (malware)
  • Ransomware
  • Malware
  • Phishing
  • Spyware
  • Viruses

Where to start when tackling cyber security threats in your business

The best way to protect yourself against potential cyber security threats is to be proactive in your defence. This involves:

  • Using multi-factor authentication (MFA)
  • Putting cyber security policies in place
  • Encrypting sensitive information
  • Securing your network
  • Backing up data
  • Educating staff


To accurately assess the cyber security of your business, download our 15-point checklist.

Download our checklist: '15 ways to prevent a cyber attack '

Cyber security standards

Everything we do at Domain Digital is undertaken in line with the Australian cyber security standards. These standards ensure that the latest data and information is taken into consideration when installing the safeguards needed to protect your small business from these cyber security threats.

This advice helps guide the protection of physical security, personnel security, and information and communications technology security. Meeting these guidelines is crucial to keeping your small business as safe as possible.

Cyber security policy for small business

Depending on your small business, your cyber security policy will change. Some organisations that work with large volumes of sensitive information will have extensive security policies, and other businesses will have smaller documents. However, either way, you must have the essential parts of your computer systems protected.

If your small business falls victim to a cyber security attack it can bring detrimental financial, legal, and reputational effects.

What is a cyber security policy?

We have highlighted the importance of a cyber security policy but what are they, and what do they entail? Typically, cyber security policies cover, technology and information that needs protection, potential cyber security threats, and the controls in place to protect from these cyber threats.

These policies allow you to not only stipulate the importance of cyber security but also how your team can help protect themselves and the business from cyber security threats. Such as, appropriate use of the computer systems, what information is and isn’t shareable, and how to handle and store sensitive information.

Protect your business today

At Domain Digital we leave nothing to chance. With our expert advice and skills, your small business will be secured against potential cyber security attacks. Allowing you to concentrate on growing your business, knowing you are protected.

View our Cyber Security Services

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