Password protection remains one of the most important aspects of any small business, yet it is often overlooked by smaller companies.
These five simple techniques will help you stay on top of your password protection, no matter what other obstaclehres come your way.
Backup the data
This is a simple way of protecting your passwords, but when done effectively it is also incredibly effective. Making a backup of your data is essentially a way of duplicating all the important pieces of information you need so that even if you lose this data you will still be able to carry on using it (and changing passwords as required).
Backing up is often recommended if there is any chance your devices could be stolen or misplaces. Small businesses may not have the budget for some of the more comprehensive password protection techniques, but a data recovery plan is one way to stay on top of everything.
If in doubt, you can always turn to the cloud. Cloud storage ensures that as your data is not stored in one single place, should the worst happen and your security becomes compromised, you will still be able to access all the passwords you need. There are numerous tactics to keep your business safe online, such as the Mitre Attack Framework here.
Stay away from phishing
Treat each e-mail you receive as a potential event where you may lose your data or have your passwords hacked. Be sure to avoid clicking on attachments you are unsure of, particularly if you don’t know the sender. Copy any embedded links into your browser rather than simply clicking on them, as this will give you more information about the site you are headed to.
Use different passwords
Don’t simply stick to one universal password for all your files and locations. This way, if one password is stolen, you’ll still be able to access others. It might be easier to simply choose one password you can remember, but it will be highly prone to data loss and theft. To provide the additional layer of security that users are looking for, SecureLink suggests implementing a multi factor authentication security system. This requires two or more methods of authentication from different categories that verify a user’s identity to log in. It should be used in situations that involve relationships between third parties and organizations. Multi factor authentication is important because it allows companies to control access to a network and keep sensitive data safe.
For businesses that need to monitor and manage a wide variety of different passwords, consider investing in a password manager. There are lots of different versions available, such as Norton and LastPass. This tool will enable you to sync your passwords whilst also making your security a little stronger.
Never share passwords
Never share company passwords with anyone else. No matter how small or large the organisation, always ensure that this information is kept safely stowed and remains private. It might seem like straightforward advice, but businesses stand to lose a great deal if they forget this important rule.
Update your software
Never scrimp on your software updates. Failure to do this on a regular basis could prove catastrophic for keeping your passwords safe and secure and cost the business far more in the long run than the initial outlay of renewing any applicable licenses and upgrades. With most automatic updates, security will be included.
Cybersecurity has never been more important. The constantly evolving online world means much more business is conducted on the web, but the risks are growing right alongside this increase in custom.
No matter the line of business you’re in, your small enterprise should be actively working to ensure optimum cybersecurity at each stage.
The risk to customers
Your customers rely on you to help keep their data safe. Even the smallest companies feel this weight of responsibility, and you have to be very cautious to ensure that the data stored never falls into the wrong hands.
Even a minor data breach can lead to plenty of heartache and trouble, revealing everything from passwords to addresses and information on prior transactions. Taking your cybersecurity seriously is the only way to help prevent these issues before they spiral.
Data risk is inevitable
Safety in cybersecurity is always relative, as there are so many risks associated with such an interconnected business world. There are no industries or business models that are entirely free from the risk of a data breach, but small businesses are also at a greater risk of suffering long term damage should this occur.
For this very reason, it is essential that you prepare in advance, helping to alleviate the risks.
Safeguard your reputation
For small businesses, reputation is extremely important. Unlike larger enterprises, there are often not the resources to bounce back with relative ease should things go wrong, so ensuring that your company is well thought of from the outset is paramount.
A data lapse can have catastrophic consequences for all areas of the business, but never forget how memorable – and public – some security issues have been with other companies. Once you have lost the trust of key stakeholders it is very difficult to claw it back.
The financial cost
In addition to your reputation, the financial cost of a data breach can be worrisome. In order to overcome the issues they cause, small businesses will likely have to invest in new equipment and security solutions, in addition to sometimes seeking our PR professionals to help mitigate the financial damage.
All of the costs of a data breach quickly add up, and if anyone impacted by the issue chooses to take legal action against the firm, then these costs can simply continue to spiral.
Kim Marks 
Nicola Holder