In a recent survey of small business owners, 65% estimated they would only lose $500 if their company's network went down for a day. Unfortunately this is a gross underestimation of the damage which can often exceed that by hundreds if not thousands of dollars.
In a recent survey of small business owners, 65% estimated they would only lose $500 if their company's network went down for a day. Unfortunately this is a gross underestimation of the damage which can often exceed that by hundreds if not thousands of dollars. By the numbers:
87% of small business owners believe they are immune to a catastrophic IT disaster.
20% of small businesses have a major IT accident resulting in downtime every five years.
40% of these businesses will close for good.
An IT disaster resulting in costly downtime and data loss can strike a business of any size and come from multiple sources that are uncontrollable, like hardware failure, a hacker attack, human error, and more. Downtime will hurt your bottom line through loss of revenue, loss of productivity, damage control to make up for the lost time, repair expenses, and more.
An IT outage at Amazon in June 2008 caused two hours of downtime. The results were disastrous:
$30,000 lost revenue a minute.
$100,000 lost revenue a minute if this outage happened in 2014.
A more recent study by CA Technlogies looked at 200 larger companies across North America and Europe in an attempt to determine the cost of downtime incurred from an IT outage.
$26.5 million in revenue was collectively lost each year due to network outages.
$150,000 annual hit for each business.
This study also discovered that IT outages are frequent, lengthy, and can do more than cause monetary damage. A loss incurred from downtime also hurts a company's reputation, the morale of the staff, and customer loyalty. And yet:
56% of enterprises in North America don't have a formal and comprehensive distaster recovery policy.
30% of enterprises in Europe don't have a formal and comprehensive disaster recovery policy.
What you need is a Backup and Disaster Recovery (BDR) solution. BDR continuously backs up your data throughout the workday to an offsite data center. BDR can also virtualize your network in the event of a disaster, meaning that your business won't have to suffer through one expensive minute of downtime.
Backup and disaster recovery is what we do at National Technologies Group. If you don't have a plan in place right now, you should talk to us. We'll mitigate the risk of your business experiencing its own IT disaster. Give us a call.
