9 low-cost cybersecurity solutions for SMBs

95% of all cybersecurity breaches are the result of human error. That means that 95% of breaches are easily preventable with the right training and solutions in place. And in this post, that's exactly what we're going to cover.

Cybersecurity can be expensive, but it doesn't have to be. With strategic investments, you can keep your business secure without breaking the bank. Below are several investments you can make today that will help you keep costs and risks down at the same time.

Staff training on cybersecurity

Training your staff is the first, most affordable, and one of the most effective low-cost cybersecurity solutions out there. Running your staff through cybersecurity scenarios is a great way to ensure that if and when they do bump into a threat, they can detect and avoid it.

As covered at the top of this post, human error accounts for 95% of breaches. That means your staff are your biggest vulnerability — and biggest opportunity, too! Training them on phishing attempts, scams, following proper governance, and so on, will help reduce the cybersecurity errors they're likely to make without training.

To create a cybersecurity training program, consult with a cybersecurity expert and work with them to build a program that covers the most common threats your staff will encounter. Then, perform tests periodically to ensure that your education has held up and doesn't need repeating.

Backup critical data

Another excellent way to prevent cybersecurity threats cost-effectively is to regularly backup your critical data. Some of the most common attacks revolve around jeopardizing data unless the business gives in to demands. This is often referred to as a "ransomware" attack.

By keeping secured backups of your data, you can reduce the impact that these attacks have on your business. And backing up your data is simple! There are several options for doing so, and it's a straightforward practice to start and keep up with.

All you need is a secure location for storing your data and a way of backing data up through a physical location or over-the-air. You should also ensure that your backups have separate access and security policies, so that ransomware can’t bust through.

Stay updated on all fronts

Next is a crucial item on this list of low-cost cybersecurity solutions. It's staying updated on all fronts. That means keeping your apps, computers, and cybersecurity measures updated at any given time.

It can be tempting to continue to use legacy solutions, especially if that's what your staff has been trained on and/or your workflows are built around. But the cybersecurity risk that this creates really isn't worth it.

Primarily, the updates that companies like Apple and Microsoft push regularly are built to reduce security risks. Each of these updates you ignore is a free security patch that your business isn’t getting.

Multi-factor authentication

MFA, multi-factor authentication, is a great security measure that all SMBs can implement. It’s also something that you and your staff are probably familiar with — whenever you try to log into an account, you get an email or text message with a one-time token/code.

In other words, to get into your account, you need more than one piece of info to log in. And they need to be different types of info; it can't just be memorizing two passwords. Implementing MFA is as easy as finding a provider or team that can provide the tech for you.

Keep cybersecurity expertise close at hand

While it might seem like a counterintuitive low-cost cybersecurity solution, having cybersecurity expertise readily available can save you expenses in the long run. That's because cybersecurity experts will be able to help you reduce risks to your business.

It's an ongoing investment that's more flexible than implementing a rigid system or software solution. You'll have someone to consult with, ask questions, and evaluate your current solutions and responses.

Perform phishing tests

We mentioned testing your staff earlier, and one of the most important tests you can perform is a phishing test. This is a relatively easy test to perform. Just create a fake email or website for your staff, give it one or two subtle cues that it might be a phishing attempt (based on your staff training), and see if staff members fall for it.

This is similar to pen testing in that its goal is to find the cracks in your armor before someone else does. You'll see if your cybersecurity training sunk in or if you need to try a new approach with certain employees.

Look into cyber insurance

As far as preventative measures go, cyber insurance is a strong choice. Just like any kind of insurance, it's a low monthly payment that you can make to reduce the impact of a future cybersecurity breach.

Modern cyber insurance covers most of the major threats to your business, making it a robust safety net. Alongside losing critical data, one of the major concerns for businesses is the cost that a cybersecurity breach can result in. Cyber insurance helps take the sting out of these incidents, keeping your business stable.

Have a response plan in place

No one wants to imagine that they'll be the victim of a cybersecurity attack — but it happens! And while you can be prepared, you can't necessarily control if or when you'll be the victim of an attack.

What you can control, however, is your response.

The way you respond to a cybersecurity threat is how you maintain control over the situation. By working with cybersecurity experts and your staff to have a response plan in place, you'll be better prepared to handle the situation, if it occurs.

Monitor your staff

Lastly, it can be helpful (and cost-effective!) to monitor your staff. Doing so is a straightforward and common practice. Like testing your team, it's a measure that ensures you're as prepared internally as possible.

It can also be a deterrent for internal cybersecurity breaches, which are an unfortunate aspect of cybersecurity awareness. You should be as prepared for an internal attack as you are for an external one.

Stay ahead with low-cost cybersecurity solutions and build your cybersecurity awareness

As you can see, staying secure doesn't have to be expensive. There are plenty of tools and low-cost cybersecurity solutions that you can embrace today that won't break the bank.

For more tips, tricks, and information on cybersecurity protection, check out the rest of the Samurai XDR blog!