Small businesses like yours drive our economy. You offer important products and services, and you support your local workforce. But small businesses also share a more nefarious trait: SMBs are a highly attractive target for sophisticated cybercriminals. In fact, small businesses are three times more likely to be targeted compared to larger companies!

Network security is critical to protect your SMB from this real and growing threat. A secure network prevents data loss, maintains customer trust, and supports overall operational resilience. But did you know that network security isn’t just a nice-to-have part of your business? Often, your SMB is required to follow local, state, or federal regulations to protect your data and your people. Investing in an updated network security program for your SMB can also ensure that you comply with a range of regulatory or industry requirements.

Whether you run a small legal business or a professional services firm, or whether you offer transportation services or medical products, you likely need to comply with a range of data protection requirements. In this post, we explain the connection between regulatory compliance and network security. And we help you take the next steps to get there.

Understanding Compliance

To understand compliance, let’s first get on the same page with network security. Taken collectively, the multiple defense and protection measures you employ form the basis of your SMB’s network security. Network security includes firewalls, network monitoring, data backup and recovery, and secure WiFi. 

Next, think about your unique regulatory requirements, most of which identify the extent to which your SMB must protect consumers and how you collect, store, and use personal information. Examples include the California Consumer Privacy Act, a landmark law that secures privacy rights for California consumers. If your business provides medical services or products, you’ll likely need to comply with HIPAA, a national standard that protects the privacy of health information. Do you run an online business? You might need to comply with the Payment Card Industry Data Security Standard, a widely accepted policy to secure online transactions and protect cardholders against misuse of their personal or financial information. 

There’s plenty more. But the key takeaway is that most consumer-facing regulations require your small business to protect your customers and their information. And network security is your ticket to comply. 

Implementing Compliance Measures

How do you implement a network security program that ensures your SMB follows regulatory requirements? At a minimum, we suggest you invest in the following measures for an effective, compliant network security program.  

• Data Protection Policy: To fully protect your business and your customers, you need to have clear documentation in place. A data protection policy will include three high-level components: access (who can access what), availability (how your data is stored), and security (how your data is protected). Of course, there are other components you can include in your policy, such as a summary of your cybersecurity approach, a definition of your various data types, and details on how your data is currently being used. Creating a robust and effective data protection policy is no longer a black box for even the smallest of businesses. You can access helpful templates, like this resource from TechTarget. You’ll want to regularly revisit both your policy and your enforcement plan to ensure it still serves your needs and responds to all regulatory demands. 

• Access Controls: It’s important to identify not just what data your SMB collects, stores, and uses, but who needs access to what types of data—and who doesn’t. Think of access controls as setting “user roles” for everyone involved with your business. With network access control, you can increase employee mobility and job satisfaction while providing the necessary visibility, control, and compliance to keep your business secure and productive. Depending on your industry and regulatory landscape, you might institute access control measures on your IoT devices, from employee laptops to security cameras. As your SMB grows, you might also need to create an access policy for contractors, guest workers, and visitors. Ultimately, your access control will include both a written policy as well as the necessary solutions to monitor access. 

• Regular Audits and Assessments: Businesses are increasingly moving online to better reach and serve customers and stay competitive. As such, the regulations you face are constantly evolving to protect businesses and consumers in this digital-first world. Once you’ve established a data protection policy and implemented the necessary solutions, you’re not quite done. Your SMB will need to regularly audit and assess your network security to ensure that you remain protected and compliant. In a previous post, we outlined several steps to effectively assess your security, including: defining your scope; identifying threats, assets, and vulnerabilities; documenting findings; and implementing security measures. 

• Training and Awareness: Finally, a key component of your network security is your people. Your strategy should equip your team to be your first line of defense, including employee training on cybersecurity best practices. At your small business, every employee has a role to play in maintaining your cybersecurity and regulatory compliance. Your cybersecurity training should be holistic and impactful, and, of course, enjoyable! (For more, see this previous post on Five Cybersecurity Training Tips Your Employees Should Know.)

When in Doubt (or Just Busy), Partner with an Expert

We get it: you’re busy, busy, busy. Often, the most affordable and achievable way to ensure network security and regulatory compliance is to partner with a trusted expert, like N8 Solutions. The right partner will deliver key benefits, including: 

• Specialized skills: Partners have deep knowledge in compliance and network security and can help your SMB stay current on the latest regulations, threats, and best practices.

• Experience: A partner brings extensive experience—and many specifically serve SMBs—which provides valuable insights and proven strategies.

• Reduced costs: Working with a dedicated partner can be more cost-effective than hiring an in-house team, which requires salaries, benefits, and ongoing training.

• Peace of mind: Knowing that experts are managing your security and compliance allows your team to focus on what really matters—growing your business! 

We hope this post illuminates the importance of network security in today’s regulatory landscape. We encourage your team to take proactive steps today toward greater protection, productivity, and compliance for your small business. Please get in touch with our expert team anytime. A great place to start is to schedule a free Network Security Assessment and Audit. We look forward to connecting!