Data loss for small businesses has the capacity to be devastating. Lacking the same access to resources as larger corporations, small business owners are likely to find data loss difficult to recover from. While it may be true that larger companies are bigger targets for ransomware and cybercriminals, nobody is immune, and the importance of data backup should not be underestimated.
It is dangerous for small businesses to fall into the mentality that they aren’t famous enough or wealthy enough to be targeted by cybercriminals or scams. Data from this year suggests that 43% of cyberattacks target small businesses. With fewer IT security defences than larger corporations, they’re seen as easier to bring down. Even if you aren’t targeted specifically, ransomware attacks occur indiscriminately to companies of any size. Backing up your data can protect you from losing sensitive business and customer data permanently.
With limited financial resources, small businesses may find it more difficult to recover from a data loss incident should it occur. Costly recovery efforts, legal liabilities and sheer time and effort could prove too much for tighter budgets, and could result in the permanent closure of the business.
Where smaller businesses operate on local reputations and trade from within a close-knit community, a damaged reputation can be challenging to rebuild. Loss of trust from customers following breaches of personal data is particularly dangerous, and regular backups can ensure that sensitive information remains safe and recoverable.
For small businesses, maintaining access to customer records, orders or payroll information is essential for day-to-day operations. Losing access to this data can result in financial hits while it is resolved. Closing down for weeks, days or even hours to fix data loss issues can result in significant revenue loss.
In order to minimise the risk to your small business, there are multiple affordable channels you can take when it comes to data backup:
Cloud Based Backups
For tight budgets, cloud-based backup is an effective data loss prevention solution. With businesses only paying for the storage they use, they can add additional storage as they continue to grow in size.
Cloud backups also provide off site protection, meaning that if business-owned buildings are damaged in floods or fires- or local IT systems suffer system failures- the data remains protected. In many cases, businesses can still access their data while backup takes place, minimising disruption.
Automated Backup Systems
With an automated backup system, companies don’t have to rely on manual oversight. Backups run on a schedule, eliminating the need to employ IT professionals and ensuring that data is regularly updated and protected.
Hybrid Backup Solutions
Combining local and cloud-based backups can be an effective and customisable way to ensure data is secure and easily accessible. While local backups can protect against smaller mishaps, cloud backup operates in the background to minimise the impact of larger threats to data.
Cloud backups are an effort worth making for small businesses. While the elaborate IT systems and expensive cyber defences that larger corporations put in place can seem daunting to small business owners, there are many ways of investing in a simple and affordable backup solution. Consider the unique needs and circumstances of your business and prioritise data backups now to protect your livelihood and safeguard your future.
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