Tips for protecting your small or medium-sized business from IoT security threats

Mike Guigli

Apr 13, 2023

Small and medium-sized businesses (SMBs) are increasingly adopting Internet of Things (IoT) technology to improve efficiency and reduce costs. IoT devices offer SMBs the ability to save costs by monitoring and controlling everything from inventory to temperature to security, all from a single interface. However, as with any new technology, there are also significant security risks. In this blog post, we will discuss the challenges of IoT security for SMBs and offer some practical tips for protecting your business.

Challenges of IoT Security for SMBs

1. Lack of Resources: Small businesses often have limited resources and cannot afford the same level of security measures as larger enterprises. Implementing robust IoT security measures can be time-consuming and require significant investment, which many SMBs may not be able to afford.

2. Limited Expertise: SMBs may not have dedicated security personnel or the necessary expertise to implement and manage IoT security measures. This can leave them vulnerable to security threats such as data breaches, cyber attacks, and malware infections.

3. Complexity: IoT devices can add complexity to environments with multiple layers of communication and interaction. This makes it difficult to secure IoT devices and ensure that they are not vulnerable to attacks.

4. Lack of Standards: There are currently no universal standards for IoT security, which means that SMBs must navigate a disparate landscape of regulations and guidelines to ensure that their IoT devices are secure.

5. Increasing Threats: As the number of connected devices continues to grow, so does the threat landscape. Hackers are becoming increasingly sophisticated in their attacks, and SMBs, as well as companies of all sizes, must constantly update their security measures to stay ahead of the curve.

Tips for Protecting Your Business

1. Perform a Risk Assessment: The first step in securing your IoT devices is to perform a risk assessment. This will help you identify potential security threats and determine which devices are most vulnerable. Once you have identified potential risks, you can take steps to mitigate them.

2. Implement Strong Passwords: One study found that only 33% of IoT device owners change their default password. That means there are potentially millions of devices with built-in passwords like “admin” or “123456” that are online and susceptible to cyber attacks. One of the easiest ways to improve IoT security is to change the default passwords and implement strong passwords. This can help prevent unauthorized access to your devices and ensure that your data is secure. Consider using a password manager to create and manage strong passwords for all of your devices.

3. Update Software Regularly: Software updates often include security patches that can help protect your devices from the latest threats. Make sure to update your IoT devices regularly to ensure that they are running the latest software and are protected against known vulnerabilities. Tools like Perygee can help you identify when there are new updates available for your IoT devices.

4. Monitor Network Traffic: Monitoring network traffic can help you identify potential security threats and take proactive measures to prevent them. Consider using network monitoring tools to keep an eye on your network traffic and identify changes that could indicate a security breach.

5. Limit Access: Limiting access to your IoT devices can help prevent unauthorized access and ensure that your data is secure. Consider implementing access controls such as two-factor authentication, which requires users to provide two forms of identification before accessing your devices.

6. Educate Employees: Educating employees about IoT security best practices can help reduce the risk of security breaches. Consider providing training on how to identify potential security threats, how to create strong passwords, and how to protect sensitive data.

7. Use Encryption: Encryption can help protect your data by encoding it so that it cannot be read by unauthorized users who are trying to access it from an IoT device. Consider using encryption tools to protect sensitive data such as customer information, financial data, and employee records.

IoT technology offers SMBs the ability to improve efficiency and reduce costs, but it also presents significant security risks. SMBs must take proactive steps to protect their IoT devices and ensure that their data is secure. By performing a risk assessment, implementing strong passwords, updating software regularly, monitoring network traffic, limiting access, educating employees, and using encryption, SMBs can help protect their business from IoT security threats.

If you’re a small or medium-sized business looking to improve your IoT security Perygee can help. Talk to one of our technical experts or try out the platform first at perygee.com. No sign up required to get started.