Cyber security is on the mind of many small businesses right now. Yet, half of all small businesses have a mid to high-level cyber risk threat based on their existing protection, according to the Council of Small Business Organisations Australia (COSBOA’s) Cyber Warden Research Report 2024. Luke Achterstraat, CEO of the Council of Small Business Organisations Australia, explains the risks and how to safeguard against them.

With so many at significant risk, the impact of a cyber attack can cost the average small business $46,000 per incident. S0 staying cyber-safe also makes more than just business sense – it safeguards the heartbeat of Australia’s economy and the country’s largest employer by person size.

 Here are four quick and easy tips to help keep your business cyber safe

1. Consider small changes, like software or password updates

With a cyber crime reported every 6 minutes in Australia*, it’s crucial to put in place some good habits that can protect your business. Small changes can make a huge difference, like conducting regular software updates promptly as these often include critical security patches, or avoiding reusing the same password across multiple accounts – this is a common mistake that can lead to widespread vulnerabilities. Also avoid opening links or downloading materials from an unknown sender to help prevent potentially fraudulent activity.

2. Upskill your employees in cyber security training

Often, your employees are the first point of contact for your business online. This could be a staff member replying to an Instagram message, managing your email inbox or updating your website. It might be time to consider training or upskilling your staff with the right cyber security and safety skills to help them spot potential cyber threats at the first signs. There are a lot of really great programs out there that are user-friendly and zero-cost to help upskill your staff.

The Cyber Wardens program is a free, 45-minute eLearning course that offers practical solutions specifically designed for Australian small businesses by empowering business owners and staff to recognise and respond to potential threats. For those short on time, the 10-minute Foundations module is a great option—it introduces key cyber awareness principles and can help employees identify critical red flags, such as unexpected invoices and phishing attempts.

3. Regularly check and review your security features

Businesses should consider reviewing their security features for additional layers of protection.  We’d highly recommend activating two-factor authentication (2FA) for all users across their online accounts, such as their Facebook, Instagram and WhatsApp accounts, plus email. This level of security requires a verification code when accessing your business portfolio, significantly reducing the risk of unauthorised access.

Another important step is to assess the security of your business’s social media accounts. Businesses using Meta platforms, including Facebook, Instagram, WhatsApp, or Threads, can use the Meta Security Centre to update your settings easily. This tool offers a centralised view of security settings that need your attention and shows you who has access to your accounts.

4. Encourage a culture of cyber safety

Embedding a cyber-safe mindset within your team is essential for making online safety a continuous priority and ensuring best practices are consistently upheld. It can be as simple as encouraging open conversations in team meetings to share experiences, questions and concerns about cybersecurity – keeping the conversation and learning ongoing. Don’t forget to recognise and reward employees who show good cybersecurity practices or are keen to learn more – it really helps to reinforce positive behaviour.

You don’t need to be a cybersecurity expert to implement effective protection. By securing your business now, you’re not only protecting yourself this holiday season—you’re setting your business up for long-term success.

Sources: *ASD Cyber Threat Report, 22-23

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