Cyber Security Must-Do’s for Small Businesses in 2024

In the face of more targeted and increasingly complex cyber attacks, strengthening cyber security measures is crucial for Australian businesses.

In the 2021-2022 financial year, the average cost per cybercrime reported to the Australian Cyber Security Centre (ACSC) rose to over $39,000 for small businesses and $88,000 for medium-sized businesses. From understanding the different types of threats to implementing effective measures, we aim to empower small business owners with the knowledge and tools they need to safeguard their businesses.

The easy-to-action measures outlined in this blog can assist small businesses in staying protected.

Cyber Wardens is an initiative of the Council of Small Business Organisations of Australia, supported by the Australian Government. The initiative is designed to build a cyber-smart small business workforce.

Over the past year, Cyber Wardens has spoken with over 2,000 small business owners and employees about cyber safety. The research indicates every small business is different in their awareness of cyber safety, level of concern, and preparedness to respond to cyber threats.

To assist small businesses in creating a cyber safe environment, the program now offers a range of helpful resources and tools. The Cyber Wardens eLearning training course takes 45 minutes to complete on any device and is free to all Australian small businesses.

Read the full Cyber Wardens Research Report for more information.

Multi-factor authentication (MFA) adds an additional layer of security to your accounts, making it harder for cybercriminals to access them. It is one of the most effective ways to protect your accounts from unauthorised access, so you should use it wherever possible.

Utilising a third-party authenticator app for each online service enhances security by generating unique, time-sensitive codes that are linked to your accounts. Two great options to consider are Microsoft Authenticator and Google Authenticator.

Ensuring your software remains up to date stands as one of the most effective methods to safeguard your business against cyber attacks. Given that new security vulnerabilities are discovered all the time, it’s imperative not to overlook prompts to update your operating system and other software.

However, if your device or software is outdated, updates may no longer be accessible. If the manufacturer has stopped supporting the product with updates, you should consider upgrading to a newer product to maintain security. Examples of systems that no longer receive major updates are the iPhone 7 and Microsoft Windows 7.

Backing up important information should be a routine or automatic practice within your business. Failing to maintain regular backups could make it impossible to recover your data following a cyber attack.

Numerous methods and products exist for backing up your information. The best option will differ for each business, so speak with an IT professional if you are unsure.

Visit localsearch.com.au to find an IT professional in your area.

Disclaimer: The content in this blog is of a general nature and should not be considered as legal advice or relied on for assistance in any circumstance or emergency. You should always seek appropriate independent professional advice tailored to your own circumstances. If you have questions regarding cyber security, we recommend consulting with an IT professional or a trusted advisor.