In today’s age of digital reliance, cybersecurity is not an option for SMBs − but a necessity.

The statistics speak for themselves. According to a study by security company Cloudflare, more than half (54%) of organisations in Asia Pacific experienced more security incidents in 2021 than in the previous year.

The Cyber Security Agency of Singapore (CSA) also revealed that nearly 40% of cyberattacks in Singapore target SMEs, with the most common being phishing attempts and ransomware. Ransomware cases rose by 154% in 2020, in comparison to the year before.

With 24/7 digital connectivity and a reliance on many online services, businesses are exposed to more vulnerabilities that may be exploited by threat actors than before.

Cyber threats are ever-evolving too. For example, the presence of emerging disruptive technologies like edge and quantum computing can lead to vulnerabilities on employees’ digital devices and network environment.

With that in mind, we outline how SMBs can fortify their cyber defence with a three-pronged approach. 

A risk-based method

This means that SMBs should adopt a zero-trust cybersecurity posture for critical systems. Cybersecurity is not just for compliance purposes, but a matter of business risk management.

SMB owners need to identify which cyber risk elements to target. Rather than just focusing on the latest cybersecurity tools, SMBs need to identify the cyber risk elements to target, and what threats are a danger to their specific network and facilities.

They should also identify their most critical assets, and assess the cybersecurity risks to those assets. These risks could come in the form of outdated software, lax access controls to sensitive data or even staff who are uneducated on cybersecurity.

Once risks are identified, concrete steps can be taken to mitigate them. A budget can be allocated to update software and procure suitable cybersecurity solutions, and internal processes can be improved to close existing cybersecurity gaps.

Strong cyber hygiene and vigilance

SMBs should also practise good cyber hygiene, and stay vigilant against cyber threats.

Business owners can cultivate good cyber hygiene by educating staff on best practices and standards. After all, employees are the first line of defence and vital to a business’ cybersecurity wellness.

SMBs can also tap on numerous resources developed by CSA, which include toolkits and programmes providing recommendations for managing day-to-day risks.

For employees, a particular toolkit was created to raise cybersecurity awareness, with tips that help them keep cyber-safe at home. Topics include phishing, using compromised or weak passwords, and using compromised corporate and/or private devices.

In addition, CSA has provided a toolkit for SME owners that may not have dedicated IT teams. This covers topics like cultivating cybersecurity leadership in one’s organisation, protecting information assets, educating employees and ensuring one’s company is cyber-resilient.

Easy-to-use cybersecurity solutions

Of course, effective and user-friendly cybersecurity solutions must be put in place to protect against evolving threats and secure consumer trust.

Lots of cybersecurity solutions exist in the market, but some specific ones SMBs can consider include:

Email Protect: A single source email protection with policy controls, data security and compliance management.

Broadband Security: A first line of defence to prevent users from bringing security risks into your business. This service helps guard against cyber threats from malware and malicious websites.

Business Protect: Real-time, end-to-end threat and data protection across all desktop and mobile platforms. The cloud-based solution requires no upfront capital investment and maintenance.

Unified Threat Management: Protection of business data, network and critical assets from intruders and threats. Enjoy round-the-clock security coverage from experienced security experts, and real-time threat intelligence to protect your business from cyber threats you might not know about.

Endpoint Security:  Protection of users’ online experience and access to the internet and cloud.  This service also prevents risk to business data and system integrity due to unintended errors.

Security-as-a-Service: Managed cybersecurity for SMBs. This lets you consolidate all your cybersecurity services into a single managed platform, with a real-time view of your business’ cyber health.