Small to Medium-Sized Business Cyber Threats and Strategies To Stay Protected.

The prevalent increase of data breaches is a huge concern to many organizations which might affect business operation continuity if there are no drastic cybersecurity measures in place to combat the threats. Continuous access to the internet and allowing access to the organization webserver or database without protective measures would expose the organization to cyberattacks.

This article focuses on the strategies organization would use to manage ever increasing data breaches such as intellectual properties, business secrets, and other valuable data. Organization security strategies shouldn’t be limited to internal users but also the vendors who have access to the system and put up a measure to ensure the vendors are not posing huge threats. I will evaluate the implication of internet use within small businesses and ways data could be protected in the following subheadings.

Evaluating the Implications of Internet Use within the SMBs

The use of the internet allows a business to reach new and larger markets to work more efficiently using computer tools. In as much as a company is thinking of implementing cloud computing, using email and maintaining a website, cybersecurity should be an integral part of the business plan. Internet theft was reported as a common fraud and surpassed physical theft because of the level of access people can gain to a system if not well protected. Every business that incorporates the use of the internet as part of their business operation is responsible for creating a security culture to enhance the business operation as well as consumer confidence.

Information technologies are important factors that can enhance small businesses reaching new and existing markets to exchange transactions to reach their expected goals. However, they must be vigilant by mapping out cybersecurity strategies to protect the business operation and critical data from cybercriminals to guarantee business continuity. The following cybersecurity strategies should be implement by the SMBs to stay protected from cyber attacks:

1. Train employees in security principles: Insider threat is the most dangerous threat facing all organizations, if their users are not trained on cybersecurity practices. Establishing basic security practices and policies for employees, and internet use guidelines that will channel users' behavior on how to handle and protect customer information as well as other vital data.

2. Protect information, computers, and networks from cyber-attacks: It's appropriate for a business to have a culture to keep computer software updated by having the latest software security patches, web browser updates, and operating system are upgraded to the latest technology as prescribed by the operating system vendor to stay protected against viruses, malware, and other online threats.

3. Provide firewall security for the business Internet connection: Every business should take a firewall as an essential network protection tool to prevent outsiders from accessing data on the organization's private network. The set rules on the firewall will allow or deny access to the network depending on who is allowed access to the private network.

4. Data backup policies: Regular backup of critical data such as word processing documents, electronic spreadsheets, databases, financial files, human resources files, and accounts receivable/payable files will guarantee business operation continuity post cyber-attack.

5. Control physical access to critical electronic devices and the environment: Preventing access to the computer or the business facilities from unauthorized individuals is the best cybersecurity approach to avoid security threats such as social engineering and tailgating. Business computers and Laptops are usually the prime targets for theft to access vital data.

According to the Cisco survey on Small to medium-sized businesses discovered that 53% have had data breaches. The chart below outlines the percentage of attack and should be a great concern for SMBs to protect itself.

Data Protection for Intellectual Property Within a Small to Medium-Sized Business.

Intellectual property is the heart of every organization being regarded as the critical asset that needs to be properly protected from the reach of the cybercriminal. Intellectual property could be either patents or trade secrets that are considered to be more valuable than its physical assets. An organization must hire some key cybersecurity professionals that are capable to protect critical information. According to CSOonline stated that cybersecurity professional must understand the dark forces that are looking for vulnerabilities to steal vital information from an organization.

Due to the broad nature of the Intellectual property, it is divided into categories such as:

• patents for inventions

• industrial designs

• trademarks

• geographical indications

Intellectual property is a design, instrument, pattern, commercial method, or compilation of information that are unique to an organization and cannot be obtained by other organization which makes an organization have an economic advantage over competitors or customers. Copyright covers literary works like novels, poems and plays, films, music and artistic works, for example, drawings, paintings, photographs, sculptures, web site pages and architectural design.

· Patents give an organization the legal rights of manufacturing or marketing the unique tangible assets. It can be registered in foreign countries to aid international competitors from knowing what a company is doing or can produce. When an organization has a patent, other companies will apply for the license of the product.

· Trademarks are considered to be names, sounds, symbols, and phrases used in association with services or products. It's often connected to a brand of which a level of quality that a company builds its reputation.

· Copyright will protect written expressions such as novels, poems, songs or movies. A copyright protects the expression of an idea, however not the idea itself. The company that owns the copyrighted work has the right to reproduce it and make derivative works from it, sell it and display the work to the public.

References

Behr, A & Slater, D. (2019). Intellectual property protection: 10 tips to keep IP safe. Retrieved from https://www.csoonline.com/article/2138380/intellectual-property-protection-10-tips-to-keep-ip-safe.html

FCC. (n.d.). Cybersecurity for Small Business. Retrieved from https://www.fcc.gov/general/cybersecurity-small-business

Gear Hart Law. (2018). How To Protect Your Small To Medium Sized Enterprise’s Intellectual Property. Retrieved from https://www.gearhartlaw.com/how-to-protect-your-small-to-medium-sized-enterprises-intellectual-property/

Power consulting. (n.d.). The Complete Guide to Cybersecurity for Small to Medium Sized Businesses. Retrieved from https://powerconsulting.com/smb-cybersecurity/