SME CYBER RESILIENCE: Why SMEs Need to develop a Cyber Resilience Strategy

Priorities for Developing a Cyber Resilience Strategy:

Risk Assessment: Identify and assess potential Cyber risks specific to your business, including vulnerabilities in systems, data assets, and third-party dependencies.

Security Controls: Implement robust Cybersecurity measures such as firewalls, encryption, endpoint protection, and regular software updates to protect against common threats.

Incident Response Plan: Develop and regularly update an incident response plan outlining steps to detect, respond to, and recover from Cyber incidents promptly.

Employee Awareness and Training: Educate employees about Cybersecurity best practices, phishing awareness, and their role in maintaining Cyber resilience.

Backup and Recovery: Implement a regular backup schedule for critical data and systems, ensuring that backups are stored securely and tested for reliability.

Third-Party Risk Management: Assess and manage cybersecurity risks associated with third-party vendors and service providers who have access to your systems or data.

Continuous Monitoring and Improvement: Regularly monitor your systems for vulnerabilities and emerging threats, and update your cyber resilience strategy accordingly.

By prioritizing these aspects, SMEs can enhance their ability to prevent, detect, respond to, and recover from cyber incidents, thereby safeguarding their operations, reputation, and overall business continuity.