Infographic: Lack of small business data loss protection can be catostrophic

Cloud security and small business data loss cost are subjects that
we have covered frequently over the years

While it might appear like your small business has far more data than you’ll ever know what to do with, your small business data loss could be expensive and even catastrophic. According to a new poll and infographic from digital copy tech giant Stratix Systems, small business tech pros estimate that lacking adequate small business data loss protection could cost their businesses an average of $450,000.

This underscores the point that a company’s data is crucial to the business. And secondly, many or most businesses, but not all, understand that their data is vital, in spite of the fact that they often are not backing it up daily. In fact, when it comes to small business data loss protection, most IT professionals are not being excessively vigilant. Less than 30% of IT pros polled indicated that they had completed a full backup that day, and shockingly nearly 20% said that their most recent backup was in in the prior month.

According to technology and finance analyst Gartner Group, the survival rate for small businesses is only 6% after a major loss of computer business data.  In a research conducted by Gartner, over 40% of small businesses were immediately forced to close their doors after a “major loss” of data. But more disconcerting even, an additional 50% of small companies indicated that they closed their doors within 24 months of their major data loss. This leaves a mere 6% “survival” rate of small companies who incurred major data loss.

Many small businesses owners surveyed answered that they are not sufficiently equipped to mollify the risk of data loss or to rapidly bounce-back if their data is lost.  Several factors exist that affect small businesses today, and which may increase the likely possibility of a major data loss:

Out-of-date obsolete technology is presently being deployed by small businesses for their data back-up and storage needs.

Cyber threats of small business data loss are increasing.

Many small business owners and managers indicated that quality back-up services are too costly or are simply not required for the business.

Curiously, while many small business owners polled recognize that their company’s data is critical to their business survival, over 50% confessed to not having adequate data back-up with remote monitoring system(s) in place to avoid such data loss.

Overall, a data protection system is necessary for the survival of every small business. Here are some pointers for protecting your small business from catastrophic data loss:

No. 1: Acknowledge the threat of small business data loss.

Small business data loss can occur when computers fail, but it may also occur from hackers.  A sobering fact, according to a recent poll by antivirus software maker Symantec, targeted attacks causing small business data loss virtually doubled in 2013. And the latest hacker de jour, “ransomware” attacks where hackers encrypt important data and hold it hostage for payment are among the most widespread now.

No. 2: Encrypt against small business data loss.

If your business has non-encrypted external hard drives and gets hacked, not only is the small business data lost, but it’s entirely accessible to the party who stole it. Backing up and encrypting small business data provides a triple layer of security.

No. 3: Back up small business data daily.

Only 30% of IT pros indicated that they had performed a full backup of their small business data on the day the poll was taken. And a frightening 18% were operating a month between backups.

No. 4: Local physical backups increase small business data loss.

Continuing to utilize local physical backup solutions severely increased the risk of small business data loss, especially owing to natural disasters.  When a flood or fire occurs, for example, there’s a high likelihood that all of your primary computers and backup drives may be gone for good, while an AbacusNext private cloud solution can ensure that the likelihood of catastrophic small business data loss is next to nil.

 

Are you ready to protect your firm and clients against small business data loss with help from one of North America’s most respected managed cloud providers? Remember us: Schedule a demo and discover first hand why Abacus Private Cloud is the #1 choice of cloud computing providers among accountants, CFOs, entrepreneurs, small business owners, and CPAs.

small business data loss protection is crucial as the infographic shows clealy