Business Insights

How to protect your small business from cyber risks

Scammers don’t just target big business — smaller companies can be even easier targets.

Cyberattacks are hitting small businesses harder than ever because many lack dedicated IT teams or large budgets, making them more vulnerable.

The good news? While cybersecurity practices vary by organization, a few simple steps can go a long way toward helping you protect your business and your customers.

1. Make security part of your everyday business

   Cybersecurity isn’t just the job of the owner or IT. It should be a companywide effort built on awareness and best practices. To get started:

   • Discuss cybersecurity in team meetings and emphasize the role every employee plays.
   • Designate someone to ensure everyone’s compliance. They don’t need to be a tech pro — just organized and conscientious.

2. Start with the basics

   These five simple steps can help deter hackers:

   • Train your team to spot fake emails. Phishing is the most common way hackers gain access to your sensitive data.
   • Take the time to confirm any request that seems off. Whether changes to payment information or unexpected payment instructions, use STOP-CALL-CONFIRM to validate the request using a known phone number.
   • Require strong passwords and implement multi-factor authentication as an additional layer of protection.
   • Update software as soon as new versions are released. Whenever possible, enable automatic updates so hackers can’t exploit old versions.
   • Back up all data frequently in the cloud or on an external drive — ideally both.

3. Give yourself extra protection

   While the basics provide strong protection, these additional steps can help deter cyberattacks or lessen their impact, especially if your organization is already cyber aware:

   • Turn on system monitoring to spot unusual activity in real time.
   • Encrypt sensitive data so it remains protected even if stolen.
   • Create a contingency plan for what to do if you’re hacked. Make sure everyone knows their role and update the plan as your business and the threat landscape evolve.
   • Stay current on new fraud and cybersecurity developments. The prevention of fraud is a moving target, with new challenges and strategies arising almost every day. Regions’ Doing More Today website regularly publishes cybersecurity-related educational content. Make it part of your routine reading.

4. Use free government tools

   You don’t have to spend a fortune. Federal agencies offer excellent, up-to-date information and resources at no cost:

   • The Cybersecurity and Infrastructure Security Agency (CISA) offers security scans and tips: https://www.cisa.gov
   • The Small Business Administration (SBA) provides easy-to-follow guides: https://www.sba.gov
   • The Federal Trade Commission (FTC) and the Federal Communications Commission (FCC) offer templates and checklists.

5. If you work with government contracts

   If you have governmental clients, you may be required to maintain specific cybersecurity controls or meet additional security requirements:

   • Follow NIST SP 800‑171 rules: https://csrc.nist.gov/pubs/sp/800/171/r3/final
   • Some contractors may need the Cybersecurity Maturity Model Certification (CMMC)