No matter what the size of your business, you need to regularly back up your data in order to secure the organization’s network. This could be the most important step for a business to take in order to prevent a network disaster from occurring. Backups help protect the company from the pitfalls of less than adequate security strategy, allowing the business to remain operational even in the case of data loss, hacking or a natural disaster.
Unfortunately, many businesses still fail to carry out efficient backups. One particular study found that as many as 60% of small businesses do not back up their data on a daily basis, and many don’t back it up at all! Even one instance of major data loss could be sufficient to ruin your business for good. Ultimately, backups will enable you to direct your efforts on value delivering operations instead of constantly fixing the situation once major or minor disasters strike. Let’s look at some of the reasons you need to implement backups right away for your business.
Backing Up is a Form of Insurance
If you don’t regularly back up your work, there’s a chance you might end losing quite some money. Most modern businesses are supported by computer networks to the extent of being crippled without them. So if your company loses its network data, there could be extremely damaging financial repercussions lying in wait for you. In fact, incidents that lead to data loss have increased by a whopping 400%, causing financial losses equating to around $1.7 trillion! For small businesses, tiny breaches can be quite expensive as well.
You Could Be Attacked by Ransomware
Ransomware has been spreading all over the world. This sort of malware affects your business by encrypting your entire network, so that you are essentially locked out of the network of your own currency until you pay ransom to the hackers in question. Since the amount is usually paid through crypto-currencies such as Bitcoin, the money becomes difficult to track down and recover. Small businesses are especially vulnerable to this sort of attack, since larger ones tend to have a lot more security. No business falls under the radar from ransomware, and if you find security systems that protect from this sort of attack to be too expensive, you simply cannot skip on regular backups. If you securely back up your data, in the case of an attack, you can simply avoid paying the ransom by restoring your data to the point before the attack.
Without Backups, Natural Disasters Could Put You Out of Business
Of all the businesses that suffer a natural disaster, a whopping 40% will fail to open directly after, with another 25% surviving only to fail within a single year. In fact, an incredible 90% of businesses will fail within two years of such an attack! This problem is exacerbated by business failing to have the foresight to back up data efficiently. So if a disaster affects a company that hasn’t back up its data, it will have to start from scratch.