10 Cybersecurity Pitfalls of Small & Medium Companies

In today's digital landscape, safeguarding your small or mid-sized business (SMB) against cyber threats is more crucial than ever. That's why we've compiled a list of the 10 most common pitfalls to help you navigate these waters and secure your business. From underestimating the threat landscape to neglecting mobile security, each point highlights key areas where vulnerabilities may lie.

1. Underestimating the Threat Landscape

The 2022 Verizon Data Breach Investigations Report revealed that 46% of breaches involve small businesses. This statistic powerfully counters the common misconception that cybercriminals only target large corporations. In reality, SMBs are frequently targeted due to factors like limited cybersecurity resources. It’s a critical wake-up call for small business owners to recognize their vulnerability and take proactive steps in cybersecurity.

2. Lax Cybersecurity Practices: Opening Doors for Cybercriminals

Many business owners don't prioritize cybersecurity, thinking they are at a lower risk or that cybersecurity is an expense they can't afford. However, most breaches are enabled by human error, meaning that improving cyber hygiene can significantly reduce your risk.

3. The Human Factor: More Critical Than You Think

Are your employees trained to recognize phishing attempts? Do they understand the importance of strong passwords? Regular employee training is crucial to mitigate the risk posed by human error.

4. Weak Passwords: A Simple Fix with Significant Impact

Encourage your employees to use strong, unique passwords and implement multi-factor authentication wherever possible. This adds an extra layer of security that can make all the difference.

5. Software Updates: Don't Put Them Off

Keeping your software and operating systems up to date is vital. Cybercriminals often exploit known vulnerabilities in outdated software, and regular updates are your best defense.

6. Neglecting a Data Backup Plan

Don't assume that data loss won't happen to you. Regularly back up your company's critical data and ensure that these backups can be successfully restored in case of an incident.

7. Lacking Clear Security Policies

Many small businesses assume they aren’t targets of digital attacks and as such don’t have proper protocols in place that could have protected them. Without clear and enforceable security policies, your employees may be left in the dark about how to handle sensitive data or respond to security incidents. Establish formal policies and communicate them clearly to all employees.

8. Ignoring Mobile Security

Assuming mobile devices are not at risk is another common pitfall. With more employees using mobile devices for work, mobile security is paramount. Implement mobile device management solutions to enforce security policies on all devices used for work-related activities.

9. Failing to Monitor Networks

You might assume, like many, that you will know when you are compromised, which is often not the case. Install network monitoring tools or consider outsourcing network monitoring services to promptly identify and respond to potential threats.

10. Thinking Managed IT Services Are Unnecessary

Managed IT services are not just for large corporations; there are packages designed with SMB budgets in mind. A managed service provider can optimize your IT and keep your business safe from cyber threats. Don’t let cybersecurity be an afterthought. At Smart Dolphins, we specialize in tailored cybersecurity solutions for SMBs. Reach out today, and let’s secure your business together.

Considering the benefits of partnering with an MSP? Learn more about our Managed IT Services!

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