Upgrade Your Cybersecurity – Equipment Business Loans

In 2021 cyberattacks were at an all-time high. Largely due to businesses going online in vast numbers during the pandemic thereby making online information more readily accessible, the cyberattacks seemed to just keep on coming. Those small businesses that weren’t prepared or that didn’t have cyber security protocol in place took some hits—oftentimes, big hits. This is why it is absolutely critical to assess the current state of your cyber security, identify any weaknesses and/or gaps in the system and take action to stem any potential attacks of this nature.

But what can you do? Small businesses don’t necessarily have the resources that larger corporations do. Can you afford to shore up your cyber security? And if you do get the funds to enhance security measures, where might they be best spent? In this article, we take a look at some things that your small business can start doing and implementing in order to ensure sensitive information is protected and breaches are prevented.

Some Eye-Opening Facts: Cyberattacks Are Much Too Common!

Did you know the number of cyberattacks in 2021 well surpassed those of 2020? And did you know that supply chain attacks alone rose by over forty percent in just the first quarter of 2021? The numbers just get more dismal from there. Which is why it is so important to act now, see how you can make your small business secure and if needed, seek business funding to enable you to protect your company’s information and valuable digital/online assets. Here is what you can do to help bolster your cyber security efforts:

1) Start with your employees

Employees need to be cyber security savvy; in other words, they need to be trained on what to look for, how to institute cyber security best practices and how to stay vigilant and thus help prevent attacks. Getting employees to understand basic internet principles can go a very long way. So, for example, you could ensure that everyone knows how to spot a phishing email. Instill best practices as far as password creation and password updating. And also, you absolutely want employees to comprehend how vital protecting sensitive customer information is.

2) Check or upgrade your antivirus software

You would be surprised at the number of small businesses that have outdated or inactive antivirus software. This is among the first lines of defense when it comes to cyberattacks. In fact, you don’t want to simply settle for the average software you’d find on home computers. As a company protecting the interests and information of its clients, you want superior antivirus software. And when you do install the software, always be on top of those updates.

3) Have multifactor authentication enabled

By now, pretty much everyone is familiar with multifactor authentication. A password alone may not cut it. When you or any of your employees are logging into your company’s systems, you should make sure that they are prompted to authenticate via their phone or device as well as provide the password. Which brings us to…

4) Updating those passwords

Updating passwords regularly may seem like a pain at times, and yet it is vital as far as best cyber security practices. Get your employees in the habit of doing this where the company systems are concerned. Ensure that strong passwords are being used, to include such that contain special characters, letters in both lowercase and uppercase, numbers and also try and avoid using readily recognizable words as passwords.

5) Update your payment processing

Where is the one channel in which cybercriminals have easy access to customer information: payment processing. Many small businesses, largely because of lack of funds, do not have the most updated and latest payment processing tools. This is leaving you vulnerable to attack. Again, here is where seeking additional working capital to help you implement cutting-edge payment processing systems is going to save your business money in the long run.

6) Back up your company data

Backing up data may seem like it should be a regular part of a company’s technological tasks and yet many fail to do this. Make sure that important documents are backed up, to include financial files, HR files and accounts receivable files among any other documents you deem important. Once this information is backed up and securely stored in a cloud-based system, you also have to make sure that that cloud stays secure.

7) Invest in a good firewall

All firewalls are not created equal, nor are virtual private networks (VPNs). It is worth the money to invest in a secure firewall or VPN. While a firewall cannot thwart all cyberattacks, it is a significant layer of defense that truly can make a difference in terms of the overall vulnerability of your network.

First Union Can Help You Stay Secure

Our job is to make sure our clients thrive and ultimately grow. It is so important to stay secure and prevent the kinds of cyberattacks that could cripple your business. This often takes money. Whether investing in a VPN, better and newer software or bringing in an expert to help train your team, you will likely need additional funding. This is where we come in. We offer small business loans, equipment loans and lines of credit among other products to help your business get the resources it needs. Call today to learn more!

Published in Equipment Financing

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