According to a 2019 report by Ponemon Institute, startups lose up to about 3.92 million dollars each year. Now, that is a significant amount of money that can make or break any business let alone a young startup.

A data breach will lead to loss of finances plus it will affect your reputation. Your customers are also likely to lose trust in you. That is why you need to take measures to protect your business from cyberattacks.

In this article, we take a sneak peek on some of the ways to keep your startup secure from the rising cyber threats.

Enlighten your employees on cybersecurity

According to research, there are more than three billion phishing emails sent every day. The messages include links or attachments such as images or videos that infect your network with viruses. It may also infect your systems malicious programs that allow hackers access to your network and data.

Now, you should not assume that all your employees have the right skill set to handle these social engineering attacks. Some might be more susceptible to attacks like viruses and phishing scams than others. That is why you need to provide regular education and training on cybersecurity. Teach them how to be alert and aware of data breach attempts that include email scams and the likes. This is the first line of defense against attacks!

Encourage the use of strong passwords.

protect your startup from cyber crime

You or your employees might want to keep things simple using a single password across different sites, including your business’ site. To make matters worse, you might also choose easy-to-remember passwords such as date of birth. The rule of thumb is if your password is easy to remember, then cyber criminals will find it easy to crack.

Don’t make such mistakes! Always advocate for strong passwords in your business.  This will make it hard for anyone to guess or for hackers to crack, thus protecting your business.

Tips:

  • Avoid using common dictionary names in creating passwords. Hackers may perform brute force attacks and obtain it quite easily
  • Passwords should be changed regularly, at least every three months to avoid breaches.

Enforce a Secure BYOD policy

Technologies are changing faster than organizations can adjust. As a result, many employees find it easier to obtain the latest technologies and use them for work-related roles. This has created an influx of personally owned devices within the workplace. According to a recent study, 61% of Gen Y and 50% of workers believe that their personal tech tools are more effective and productive than those based in their workplace.

However, this efficiency of using personal devices for work activities has caused a host of security challenges. As a startup owner, you will need to put security measures in place to ensure that personal devices do not compromise your security.

One fundamental step you should take is to get a great MDM solution for all types of businesses to protect your startup. A mobile device management tool will be useful for managing mobile endpoints, such as your employee laptops, phones, or tablets. The tool will give your IT staff all vital information about mobile devices. You can manage them far more efficiently, thus protecting any loopholes that can be used against you.

Use the Principle of Least Privilege (POLP) in data access

Not all your employees should access every set of data in your organization. You should limit the ability to access sensitive data and make necessary changes to the employees whose job descriptions require it. Hence, you should set up privilege levels for different roles.

Additionally, you should also be aware of what anyone employee is doing on your system and the kind of data they are accessing. You should even know at what time they are accessing sensitive data. This increases the room for accountability in the event of a data breach or case of any malicious activities on your systems.

Also, ensure that the employees with top privileges clearly understand the ways to handle sensitive business information and their responsibilities. For example, they should not access your systems using public unprotected WiFi. They should also encrypt private company files before emailing them. This will ensure that there is a top security and that hackers have no room for accessing your data so easily.

Wrap up

Cybercrime is a growing concern for any type of business out there. You can’t avoid tech in business, meaning you just have to find ways to cope with the cyber threats coming your way. Don’t wait for an attack to happen. Stay ahead of the criminals by implementing protective measures against them.