Protect Your Small Business On The Encryption Frontlines

15 May 2024

Encryption is not just for larger enterprises. Small businesses also need data encryption to protect their valuable data from the prying eyes of threat actors.

Reason: Unencrypted business data, files, or emails invite unwelcome guests to your home, i.e., your business. And you wouldn’t want that, would you?

So, all said and done, let’s first understand what Encryption is and why it is important for your small business.

What is Encryption?

Encryption has long been used by defense and governments.

Today, businesses encrypt their data at rest and in motion.

But what is encryption?

Encryption is the process of converting plain text information into secret code. This secret code hides sensitive information from unauthorized prying eyes.

In simple words, encryption is a process of concealing sensitive information by altering it so it appears as random data.

Why Does Your Small Business Require It?

Your small business requires encryption for various reasons, but here are a few that I think will satisfy your curiosity.

📍Cyber threats are real and pervasive. Threat actors love small businesses as they are the low-hanging fruits.

Reason: They don’t have the proper line of defense in place.

📍The trust of your clients and customers is crucial for you to stay in business, and encryption helps you gain that trust by protecting your data against unauthorized prying eyes.

📍 As regulatory bodies tighten their noose on data protection policies, compliance is not an option but a necessity. Encryption ensures that while you are protecting the data, you are also following the legal standards to prevent fines.

📍With data encryption, small businesses can ensure that their business ideas remain theirs.

Federal Trade Commission Guidelines on Encryption

The Federal Trade Commission (FTC) guidelines on Encryption are simple and clear. FTC wants businesses, especially small businesses, to strengthen their defenses against cyber threats.

Small businesses are part of larger enterprises and have sensitive data, which, in the wrong hands, can prove disastrous. So, the FTC’s goal is to encrypt data to prevent theft or unauthorized access.

Benefits of Encryption for Your Small Business

Here are some prominent benefits of encryption for your small business.

✅ Encryption adds additional security to your data and protects it against cyber threats.

✅ As a small business owner, encryption is recommended or encouraged by certain laws and regulatory compliance requirements that are applicable to your business.

✅ When you encrypt your data, you demonstrate your commitment to protecting it. Your clients trust you with their data and have confidence in your business.

✅ It also nullifies brute-force attacks, as guessing the correct password can take a long time with encrypted data.

✅ Encryption protects your data not only from theft but from all sorts of tampering.

✅ As a small business owner, encryption helps you maintain your data’s integrity.

Final Words

Small businesses are lucrative targets for threat actors to exploit any vulnerability or entry point they can get. As an SMB owner, follow basic cyber hygiene and stay updated and alerted about threats.