5 Security Tips Every Entrepreneur Should Know

Colorful software or web code on a computer monitor

Running a business comes with many responsibilities, including keeping your company away from cybercrime. But with the actual technological advancements, it has become more and more challenging to fight against cybercriminals. As Small Business Trends showed, about 9 percent of small businesses suffered a theft or burglary in 2016. The numbers are alarming, especially if you don’t know much about data privacy and security.

Whether it’s occurring at a multinational or newly founded business organisation, the data breach is real, and can happen to anyone. The most common causes of data leaks include misconfigured software settings, weak passwords, malware, and insider threats. That’s why it’s of the utmost importance to invest in data security.

Although such attacks are frustrating, they can be avoidable with the appropriate safeguards.

This article explores some valuable security tips on how to prevent cybercrime and ensure workplace safety:

Safeguard passwords

One of the most common reasons why cyber-attacks occur is related to passwords. Most people don’t know how to build a strong password or don’t see the relevance in doing so. Patterns like names followed by 1234 are no longer an option, being an easy target to hackers. When it comes to corporate passwords, you should draw even more attention to their strength since your computer contains sensitive information – and cybercriminals hunt this kind of data, literally.

Consider these simple yet effective tips on how to build an impossible-to-guess password:

  • use unusual and random combinations of letters, symbols, numbers – also use capitals and lower cases for increased security;
  • make it long – more than ten letters would be great;
  • avoid using data from your personal life, like the name or date of birth of your children or partner – these are the first tries of data thieves;
  • change passwords regularly;
  • use a different password for each account;
  • if you find it challenging to memorise dozens of passwords, consider using a password manager – it helps you stay organised and keep evidence of your passwords.

Opt for cloud-based services

Do you still keep your important documents in folders? We’re sorry to announce you, but you may be at the risk of getting hacked. Our advice would be to switch to a cloud-based service to store corporate data and stay on top of all the security issues updates. Cloud storage is a safe option for anyone wanting to improve their online privacy, but it’s indispensable for businesses. Every entrepreneur has access to sensitive information like customer personal data and trade secrets, so it would be better to keep it away from the hackers’ hands and store it in a cloud.

Invest in data security

If you’re a small business owner, you should know that these businesses are the most attractive targets for data thieves. You probably wonder why. Well, it’s because hackers think that small businesses are not equipped with the right data security equipment. And if we’re to look at statistics, this seems to be true – The Cyber Security Breaches Survey showed that almost half of businesses reported experiencing cyber-attacks in 2020. The numbers are alarming – what is to be done? The best solution would be to invest in cyber security, whether you’re running a large or small business. So, use advanced software and do regular security audits to ensure your corporate information is safe. This way, you gain your customers’ trust and confidence because once they know their data is secure, they will return to your services.

Use a secure network

Entrepreneurs often use their computers at the office and in public places because there’s always a task to solve. After all, that means running a business. When opening a laptop in a public place, you’re likely to connect to another owner’s Wi-Fi network, one of the most common mistakes leading to data breaches. That’s why it’s crucial to encrypt your data with a secure network. Consider using a VPP (Virtual Private Network) for extra protection when surfing the web in public. No one will access your browsing history and other confidential information like your IP (Internet Protocol) address. It’s essential to hide your IP because hackers often want to geolocate you via this IP address. A VPN will also protect your entrepreneurial payments and transactions so that you don’t have to worry about stolen bank account information.

However, if it ever happens to be the victim of cybercrime, it would be helpful to know that you can make a claim to the organisation that was supposed to protect you from data leaks. As a result of a cyber-attack, it is also possible to suffer material (financial loss) or non-material damage (psychological harm). If you don’t know the procedures, you can consult specialists like DataBreachClaims.org.UK, who can give you professional advice and further guide you to the path of justice.

Train your employees

This aspect may be overlooked, but it’s essential to understand that it’s not only you who should be aware of the dangers of cybercrime but your employees, too. The cases when workers share confidential information from work are not uncommon, although they don’t do that on purpose. That’s why you should consider educating them in this regard. Draw up mandatory and rigorous training programs to teach your workers valuable cybersecurity tips. Tell them that there are several ways they can accidentally expose confidential data – on forums, social media, over phone calls, via email, using a public Wi-Fi network, etc.

Also, alert your employees about the email scams – phishing is a common way to invade a system and steal critical corporate data. These messages usually appear to be sent from financial institutions or law enforcement agencies and prompt employees to revise some formalities. More often than not, the links attached to the messages are easily recognisable as suspicious links because their URL doesn’t match that of the institution of whose name they’re sent. However, it’s better to train your staff to recognise a phishing email to avoid unpleasant situations.

Bottom line

As you can see, numbers speak – more and more businesses are exposed to cybercrime nowadays. Luckily, you can fight against data thieves with proper security equipment and well-trained staff.

Did you find our insights helpful? If so, implement security in your company now!