Every year, the threat landscape continues to grow larger and businesses face more risk. In their 2022 State of SMB Cybersecurity Report, ConnectWise revealed that 76% of small to medium sized businesses have been impacted by at least one cybersecurity attack, which is a significant increase from the reported 62% in 2021 and 55% in 2020.

Cyber criminals are constantly finding new vulnerabilities, exploit methods, and ways to scale their operations. Businesses must continue to evolve and stay up to date in order to lower their risk and protect their business.

SMBs Are Reaching a Cybersecurity Tipping Point

Small to medium sized businesses, if they have not already, are beginning to recognize the importance of cybersecurity as they face higher risks than ever before. According to ConnectWise, 73% of SMBs agree that their organization has reached a tipping point and their growing cybersecurity concerns require action.

As the threat landscape evolves, investment in cybersecurity should be a priority. Below, we define 6 important elements your company should focus on in order to protect your business.

6 Ways to Protect Your Business

• Keep track of your assets – It’s important to know your data and assets when determining your level of risk. Keep tabs on all data in your network in order to understand the risks you may face and how to protect your organization.
• Secure your network and data – Protect your network by ensuring your data is secure. This will help lower your risk against cyberattacks and improve your organization’s overall security.
• Educate your employees – It is essential to set policies in place and train your employees on basic cybersecurity practices. Your organization should provide guidelines for employees to follow in the case of a cyberattack.
• Ensure all systems are up to date – Regularly updating your software is necessary to prevent security issues and reduce vulnerabilities.
• Have a disaster recovery and business continuity plan – It’s crucial to have a recovery plan in place when disaster strikes. A BCDR plan will help your business get back up and running, and continue business operations after an event.
• Invest now, not later – With the occurrence of cyberattacks continuing to rise, investing in a strong cybersecurity posture is more important than ever. Cybersecurity is no longer an extra investment, it is necessary to protect your business.

Improve Your Security with Lloyd

As cyberattacks continue to increase and the threat landscape grows, companies of all sizes must prioritize their cybersecurity posture. It’s crucial to invest in your cybersecurity ahead of time, not when your business faces a cyber threat.

At Lloyd, we’ve built a security-first mentality by creating continuously evolving security policies and programs. We focus on confidentiality, integrity, and availability of client data as we defend against cyberattacks with innovative, industry-relevant threat intelligence.

Contact us to learn more about how our rigorous cybersecurity and risk assessment solutions work to increase your resilience against cyber threats.

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