Cybersecurity for Small Business with Microsoft Defender

What we will cover in this blog:

• Understanding the enemy: How Cybercriminals target businesses.
• Your Defense Strategy: How to protect your business.
• Simple Solutions with Microsoft 365.
• Elevate your business Security and Productivity

We, the YOLO team, have had the privilege of working with and supporting businesses big and small over the years. One thing that we have witnessed countless times is that small businesses often operate under the belief that they wouldn’t be a target for Cybercrime.

This couldn't be further from the truth! Research shows that SMB's need to protect themselves just as much as larger businesses do, if not more.

We understand that small to medium businesses don’t have the same resources to throw at expensive cybersecurity precautions. Unfortunately, this makes them an attractive target to cybercriminals. In fact, 43% of cyberattacks target small businesses⁽¹⁾.

Cyberattacks come in many different forms, but in serious cases, these attacks can cause significant financial loss, reputation damage and may even result in the closure of the business. Before we dive into what you can do as a business owner to protect yourself, it’s important to understand the types of Cybercrime that your business may face.

Understanding the enemy: How Cybercriminals target businesses.

Cyberattacks come in various forms, each with its own set of challenges.

• Malware: A broad term for viruses and malicious software designed to breach network security.
  
  
• Ransomware: A type of malware which encrypts your data and demands a ransom in exchange for a decryption key to regain access to your data.
  
  
• Business Email Compromise (BEC). These types of attacks target employees who have access to company funds or sensitive information. Hackers will then often impersonate an executive in the company or a vendor of the company and request a payment, change of banking details for a regularly paid supplier or request sensitive information that the employee wouldn’t share with anyone else.
  
  
• Password Attacks. Cybercriminals use a variety of methods ranging from brute force to phishing attacks in order to gain users credentials. They can then get access to sensitive information or systems and even finances.
  
  
• Distributed Denial-of-Service (DDoS). This type of attack overloads network resources to make them unavailable to intended users. In simple terms, it’s like sending a hoard of people to crowd an entryway in order to prevent actual customers from entering. This can cause a loss of customers and revenue for your business.

Your Defense Strategy: How to protect your business.

With cyberattacks occurring every 40 seconds⁽²⁾, cybercriminals have become more sophisticated and more aggressive which means that traditional Antivirus isn’t sufficient anymore to protect sensitive business data. So, what can you do?

1. Enforce Password Security. Password best practices include good password hygiene, using multifactor authentication and making use of a trusted password manager.
   
   
2. Update Software Regularly. Security patches in update releases will help to keep your defense strong. It is important to run these updates regularly to safeguard your device, data and business.
   
   
3. Have a Disaster Recovery Plan. Be prepared with a roadmap for quick recovery in case of a breach.
   
   
4. Conduct Regular Employee Awareness Training. The best cybersecurity measures are useless if your employees can’t successfully identify threats. Find out how we can help.
   
   

Simple Solutions with Microsoft 365.

Microsoft has developed a comprehensive set of security solutions which are specifically designed for small businesses. Microsoft Defender, as part of Microsoft 365 offers:

• Advanced Phishing and Ransomware Protection – Defends your business against sophisticated phishing and ransomware attacks.
  
  
• Endpoint Security – provides next-gen antivirus, endpoint detection and response.
  
  
• Data Encryption – Controls access to sensitive information.
  
  
• Device Management – Secures devices that connect to your data and keep them updated.
  
  
• Conditional Access and Multi-Factor Authentication – Helps employees securely access business apps with conditional access and safeguards against password loss or theft.
  
  
• Azure Information Protection – Encrypts sensitive emails and restricts copying and forwarding of confidential business information.
  
  
• Microsoft Intune – Allows you to apply security policies to protect work data on company and employee-owned devices.
  
  
  

Elevate your business Security and Productivity

In today’s digital landscape, cybersecurity is not a luxury-it’s a necessity.

Secure top-notch cybersecurity features, along with a range of productivity-enhancing tools at a cost-effective price point.

Contact us now to secure your free migration.

Sources:

¹Why small businesses are vulnerable to cyberattacks, Linda Comerford, May 2022

²How Does Microsoft Defender for Business Benefit Small Businesses?, Bo Foulis, October 2022