Why Password Security Matters

Small businesses are frequently targeted by cyber criminals due to simpler security setups that can be easier to exploit.

Implementing strong password management practices doesn’t just protect your data; it builds trust with clients and business partners, showing that your business takes security seriously. Here’s a guide to key practices every small business should adopt to enhance cyber security.

Simple Guide to Strong Password Management

1. Create Unique, Complex Passwords: Passwords should be at least 12 characters long and include a mix of uppercase and lowercase letters, numbers, and symbols. Avoid common phrases, predictable patterns, and personal details that can be easily guessed or found online. Reusing passwords is also a security risk, as using the same password across multiple accounts increases the likelihood of multiple accounts being compromised if just one is exposed.
   
   Consider using a mix of words, symbols, and numbers in a phrase to make the password easier to remember but still secure, like Gr0cery$List99!. This approach keeps your password strong without making it impossible to recall.

2. Use a Password Manager: Managing multiple complex passwords can be a challenge, especially if each account needs a unique password. A password manager securely stores and encrypts your passwords, allowing you to create and retrieve complex passwords without needing to memorise each one. These managers can also help you quickly change passwords if needed after a security incident.
   
   Popular password manager like LastPass is designed with business security in mind, ensuring convenience without compromising safety.

3. Enable Two-Factor Authentication (2FA): Adding 2FA to important accounts provides an extra layer of security by requiring a second verification step. This might be a code sent to a mobile device, an authenticator app, or even biometric verification on compatible devices. Even if a password is compromised, this additional factor makes it less likely that unauthorised access will occur.
   
   Enable 2FA on business-critical platforms, such as email, financial accounts, and customer management systems, to strengthen account security.

4. Implement Role-Based Access Controls: Not all employees need access to every system. Limiting access based on job roles ensures that individuals only have access to the information required for their tasks, reducing the risk if a single password is compromised. This “least privilege” approach can greatly improve your business’s cyber security posture.
   
   For example, a customer support representative may need access to client records but not to financial data. Role-based access ensures the business remains secure while employees have the tools they need to work efficiently.

5. Educate Yourself on Cyber Security Basics:Basic training on password best practices can help you understand the importance of secure passwords and the risks of poor practices, such as using weak passwords or sharing credentials.
   
   Regular training sessions on topics like phishing, password security, and safe online behaviour go a long way in reducing risks. Further, when employees come on board, you can start to incorporate cyber security awareness as part of onboarding. For existing teams, scheduling regular refreshers ensures that everyone is up-to-date with current security practices.
   
   Our partner, Jam Cyber, has a  Forever FREE cyber security program for NSEA Participants. Sign up now!

6. Monitor Exposure with Have I Been Pwned: Data breaches are increasingly common, and your team may not be aware if their credentials have been exposed. Have I Been Pwned is a free, trusted service that checks if your email addresses or passwords have been compromised in a known data breach. For NSEA participants, this tool is an easy way to monitor exposure and take quick action if necessary.
   
   Check if any of your credentials have been compromised here: https://haveibeenpwned.com/