2024 was one of the hardest years for the CIOs and CISOs who faced mounting challenges as cybercriminals continuously refined their tactics and exploited vulnerabilities. Hackers are no longer just opportunistic— they’re strategic, learning from previous attacks and adapting to the most advanced defense mechanisms. In today’s digital landscape, cyberattacks are an ever-present threat to businesses of all sizes. From ransomware to phishing scams and data breaches, risks evolve every minute, and no organization is immune to these risks. As the risks evolve, so must organizations’ security strategies to stay ahead of the curve.
Here are a few essential steps to get you started on safeguarding your business from cyber threats.
1. Implement Strong Access Controls
A cyberattack can cost away a lot more than what’s actually revealed. According to The TELUS Canadian Cloud Security Study, cyberattacks cost businesses approximately CAD $88,000 for each incident. The same report found that Canadian businesses are likely to be hit with an average of five cyberattacks every year.
One of the most basic yet effective defenses is controlling who has access to your company’s critical systems and data. Use multi-factor authentication (MFA) for all user accounts, especially for those accessing sensitive information or internal systems. Ensure that employees only have access to the data they need to do their jobs, a principle known as least privilege. Regularly review access permissions and remove access for employees who no longer need it.
2. Regularly Update and Patch Systems
Cybercriminals often exploit vulnerabilities in outdated software to gain access to systems. Keeping your software up to date with the latest patches is crucial to closing these security gaps. Automated patch management tools can help ensure that all systems, including operating systems, applications, and firmware, are updated in real-time. Don’t forget to update security software like firewalls and antivirus programs to protect against known threats.
3. Educate Employees on Cybersecurity Best Practices
Human error is one of the most common causes of cyber incidents, whether it’s clicking on a phishing email or using weak passwords. According to TELUS, employees are most vulnerable to the most basic tricks that hackers deploy to attack SMBs. And, in most cases, the employees are aware of it. In fact, the study found 72% of employees at SMBs know about their behavior that could lead cybercriminals to gain access to company’s systems.
How to educate employees on cybersecurity best practices?
Conduct regular cybersecurity awareness training for all employees to help them recognize common threats like phishing attacks, suspicious links, and social engineering tactics. Encourage the use of strong, unique passwords and promote password managers to help securely store login credentials.
Download the TELUS Business guide to learn more actionable strategies to help protect your business from cybersecurity threats.
4. Backup Critical Data
Data loss due to cyberattacks, such as ransomware, can cripple a business.
Ensure you have a comprehensive data backup plan in place that includes regular, encrypted backups stored in a secure, offsite location. Test your backup system frequently to make sure that you can quickly restore data in case of an attack or system failure. This will not only help protect your data but also minimize downtime and reduce the impact of a cyberattack.
A managed services provider, such as TELUS Fully Managed, offers robust backup solutions and processes designed to safeguard your data and ensure rapid recovery when you need it most.
With this advanced solution, your organization can rest assured knowing that your critical data is secure, easily recoverable, and protected against the growing risks of cyberattacks. Whether you’re facing a natural disaster, a security breach, or a system failure, TELUS Fully Managed equips your company with the toolset to rapidly recover from disruptions, minimizing downtime and data loss, so you can maintain business continuity.
5. Monitor and Respond to Security Incidents
A proactive security posture includes continuous monitoring of your network and systems for any signs of a cyberattack. Implement intrusion detection systems (IDS), security information and event management (SIEM) tools, and endpoint protection to detect unusual activities in real-time. Create an incident response plan that outlines the steps to take in the event of a breach, including how to contain the threat, notify stakeholders, and recover systems quickly.
6. Consider Cyber Insurance
Cyber insurance can provide an additional layer of protection for your business in case of a successful attack. While it won’t prevent a breach, it can help mitigate the financial impact by covering the costs of incident response, legal fees, and data recovery. Review your business’s risk profile and speak with an insurance advisor to determine the appropriate coverage for your needs.
Conclusion
Protecting your business from cyberattacks is an ongoing effort that requires a multi-layered approach. By implementing strong access controls, staying on top of software updates, educating employees, backing up data, and maintaining vigilant monitoring, you can significantly reduce your risk and prepare for potential threats. Cybersecurity is not a one-time fix but a continuous process that evolves alongside new challenges, and taking these initial steps is an essential foundation for securing your business in today’s digital world. Stay proactive against emerging cyber threats and protect your business, customers, and workforce with actionable strategies and expert insights. Download this guide to learn how SMBs can protect themselves against cyberattacks in 2025.
