The Cost of Downtime: Why Backup is Important for SMBs
Introduction: Why Downtime is a Major Issue for SMBs
Imagine this: your company has lost its data that includes important information such as customer details, sales, and other information that is necessary for the running of the business due to an accident or cyber attack. Work is slowed down. The employees are unable to use their tools and thus are unproductive. The customers are going to be angry. Every minute that passes costs the company money.
Down time is not only a nuisance to SMBs, it can be downright devastating. Unlike big corporations which have extensive IT personnel and resources to help them get back online in the event of data loss or system failure, SMBs are not well placed to do so. What does this mean? It means financial losses, reduced employee productivity, lost customers, and even legal issues.
In this blog, we are going to find out the real cost of downtime and why you need a professional backup solution to avoid it.
The True Cost of Downtime: A Detailed Look At The Problem
- Financial Losses
Recent studies show that SMBs can suffer from $10,000 to $50,000 per hour of downtime, based on the type of business. An e-commerce store closure can result in hundreds of lost sales. A service industry business with cancelled appointments and stalled projects will have a long-term effect on revenue.
- Lost Productivity
When systems are down, employees are left with nothing to do, although salaries are still paid. A single day of downtime can set projects back for several weeks, thus decreasing the efficiency and the satisfaction of the customers.
- Customer Trust & Damage to Reputation
Customers expect their providers to be reliable. If they can’t reach you or if they find out that your data has been lost, they will lose trust in your business and they will defect to your competitors. Visualize a law firm which has lost vital case files, or an accounting firm which has lost client tax records, the damage to the reputation could be catastrophic.
- Regulatory & Legal Risks
Some industries have specific rules on data protection (for instance, GDPR, HIPAA, or other financial regulations). Non-compliance with client data protection can lead to penalties, legal actions, and in some cases, criminal consequences.
The causes of downtime in SMBs
Downtime can be triggered by a number of factors, including:
- Hardware Failures: The aging servers, the corrupted hard drives, and power failures can lead to the loss of data.
- Cyberattacks: Ransomware, phishing, and hacking are on the rise, and they are after businesses that have weak security measures.
- Human Errors: Deletions, installations, and setting of wrong parameters can lead to data loss.
- Natural Disasters: Fires, floods, and earthquakes can destroy the physical data centers, which is why cloud-based backups are important.
Backup is the best way to prevent downtime
A good backup policy will allow your business to resume operation in the event of a disaster and minimize the effect of the disaster and the associated costs. Here’s how:
✅ Automated Backups: Backups should be done at regular intervals to minimize the likelihood of data being saved only when requested.
✅ Cloud Storage Protection: Offsite backups are a way of protecting your data from physical threats and online threats.
✅ Fast Data Recovery: Reduce downtime by quickly replacing lost or damaged data.
✅ Protection Against Ransomware: Having backup versions you can easily restore your clean version of files without paying the ransom.
What SMBs Should Do to Develop a Good Backup Strategy
There are certain measures that any SMB should adhere to in order to avoid the effects of downtime:
- The 3-2-1 Backup Rule: A Way to Backup Your Data
The steps involved in the best practice backup are:
3 copies of your data (The first copy is the primary and the other two copies are the backup).
2 different types of storage (such as local vs cloud storage).
1 offsite backup to avoid physical disasters.
- A Combination of Local and Cloud Backups
This way, you get quick data retrieval (backup is stored locally) and data protection against disasters (backup is stored in the cloud).
- Test Your Backups Regularly
A backup is of no use if it does not work when needed. It is through periodic testing that one can be sure of the data’s recoverability.
- Work with a Professional IT Provider
Turbo IT Solutions provides complete backup services that are managed, so you do not have to worry about the data protection. We offer setup, monitoring, testing, and quick data retrieval in case of a disaster.
Take Action Before It’s Too Late
Down time is expensive and preventable. It is better to spend money on a good backup solution at the moment to avoid losing thousands of dollars and harming your business in the future.
📞 Do not wait for the calamity to happen! Let us protect your business now.
👉 Book a Free Backup Consultation Now!