PRESS RELEASE: Safeguarding Small Business Event: Essential Cybersecurity Measures

Microsoft partner, IT&T Pty Ltd, a leading technology solutions provider, is thrilled to announce the inaugural Empowering Small Business Cybersecurity and AI Event. This groundbreaking event will take place on May 2nd, 2024, at the prestigious Novotel North Wollongong.
Event Details:
• Date: May 2nd, 2024
• Time: 5:30 – 7:30 PM
• Venue: Novotel North Wollongong, 2-14 Cliff Rd, North Wollongong, NSW 2500, Australia

In an increasingly digital world, small businesses are vulnerable targets for cyber threats. These attacks can have devastating consequences, both financially and operationally. As a journalist, you can shed light on the critical need for robust cybersecurity practices among small enterprises. Let’s explore some key points to consider:
1. The Cost of Neglect
• Average Cost: In the 2021-2022 financial year, the average cost per cybercrime reported to the Australian Cyber Security Centre (ACSC) rose to over $39,000 for small businesses1.
• Impact: Even minor incidents can disrupt operations, compromise sensitive data, and erode customer trust.
2. Simple Steps for Small Business Security
a. Multi-Factor Authentication (MFA)
• What Is It?: MFA adds an extra layer of security by requiring users to provide multiple forms of identification (e.g., password + SMS code) to access accounts.
• Why It Matters: Implementing MFA significantly reduces the risk of unauthorized access.
b. Regular Software Updates
• Why?: Outdated software often contains vulnerabilities that cybercriminals exploit. Regular updates patch these security holes.
• Tip: Enable automatic updates to stay protected effortlessly.
c. Back Up Your Data
• Importance: Regular backups ensure that critical business data remains safe even if systems are compromised.
• Best Practices:
o Frequency: Regularly back up essential files.
o Offsite Storage: Store backups offsite or in the cloud.
3. Essential Eight for Small Businesses
The ACSC recommends implementing Maturity Level One of the Essential Eight2. These are eight essential strategies to enhance cybersecurity:
1. Application Whitelisting: Allow only approved applications to run.
2. Patch Applications: Keep software up to date.
3. Configure Microsoft Office Macro Settings: Limit macros to trusted sources.
4. User Application Hardening: Restrict browser plugins and execution of scripts.
5. Restrict Administrative Privileges: Limit admin access.
6. Patch Operating Systems: Regularly update OS.
7. Multi-Factor Authentication: As discussed earlier.
8. Daily Backups: Consistent data backups.
Small businesses play a vital role in our economy. By emphasizing the importance of cybersecurity, you can empower them to protect their assets, customer data, and reputation. As a journalist, your coverage can drive awareness and encourage proactive measures.