With cybersecurity more important than its ever been before, small businesses need to be taking advantage of all the most affordable means of maximising it.

Arguably the most persistent trend in the world of technology is the continued need for cutting edge cybersecurity. This is because cyberthreats continually evolve as criminals seek new ways of stealing data, the most valuable resource one can have access to. The bare minimum risk for businesses is that they lose money or data, but depending on which sectors the business is apart of, they may also be subject to legal penalties, too. We spoke with a managed service provider based in London – called TechQuarters – who have worked with small businesses for over a decade, helping them modernize their security strategies. From this, we made a list of ways small businesses can boost cybersecurity while managing their budgets.

Why is Cybersecurity Essential?

The importance of cybersecurity cannot be understated. Even a low-impact security breach could have major ramifications for a business, if it means the business has breached data protection regulations that they are subject to. TechQuarters, having provided IT support Central London businesses have relied on for 12 years, described how cybersecurity and compliance regulations has driven security to become a top priority for businesses – as the consequences of even basic errors can be significant. With that, they described some of the easiest ways that businesses can improve their security. These measures don’t necessarily have to involve huge investments – sometimes, security can be as simple as teaching staff best practices. Below are six examples of basic security practices small businesses should be adopting…

1. Cybersecurity Training for Staff

First and foremost, small businesses should take the time to train everyone in the organisation about appropriate cybersecurity practices. This is arguably the simplest (and most cost effective) means of boosting company security. A great many security breaches every year occur due to simple human error, and a lack of understanding of the risks of certain actions online – such as clicking a link to find out where it takes you. Carrying out security training days, and/or providing a company handbook for users to refer back to is a good idea.

2. Password Management

Though this ties in with the first point about staff training, it is one of the most important steps a business needs to take. Many security breaches a year are a result of people re-using passwords for multiple accounts, or using overly simplistic passwords that can be cracked within minutes (or seconds). Small businesses can easily mitigate these risks by enforcing correct password practice. This means using a unique complex password for each and every device or account. To make this easier, businesses can use a free password manager, such as BitWarden.

3. Multi-Factor Authentication

Building on the previous point, businesses can add additional layers of security to devices and accounts by enforcing multi-factor authentication, too. We asked TechQuarters about this, and they said that, whether they are providing IT support for architecture firms, financial institutes, manufacturers, or any of the other sectors they have worked with, they always recommend the use of MFA. The reason multi-factor authentication is so effective, is because it adds dimensions to the authentication process – i.e. instead of simply needing to provide the right credentials, one needs to confirm their identity.

4. Cloud Storage

The reason why cloud storage is considered a cost effective security solution is because it has additional benefits to organisations beyond security alone. Nowadays, cloud storage is the standard for both personal and shared storage, file sharing, and file management. Using an enterprise-grade cloud storage service also offers high-level security. For example, Microsoft have invested billions in their cloud infrastructure, and their two most popular storage services, SharePoint Online and OneDrive for Business, are beneficiaries of that security investment, research and development.

5. Enterprise Business Solutions

Similarly to the previous point, using exclusively enterprise business solutions is another good way for businesses to bake security into the foundations of all of their work. TechQuarters personally favours Microsoft Office 365 solutions, as they not only enhance productivity and work efficiency, but are backed up by high quality cybersecurity.