When running a small business (or even a big one), owners are constantly aware of getting the most efficient planning or most advanced technology. One aspect that should also not be overlooked is the importance of backups and how not doing so regularly could have drastic consequences.

Backing up data means duplicating or archiving folders, files and other information to a location that can be retrieved in case the original is corrupted, lost or wiped out. When money or valuable data is on the line, backing up a computer file should be a habitual task. Unfortunately, this is not always so.

Some people make the mistake of not backing up their data because they think their computer is new or that they have updated virus software. Others forget to do so out of laziness or lack of technological understanding. But there are many different ways software and hardware can fail and not having a fail safe is… well, failing safely.

Data loss can occur because of a virus, computer crashes, exterior computer damage or even plain theft. When these occur, they do so suddenly and if a business has to be put on hold for a day or fails to run efficiently for some time, the losses pile on quickly. It could take months – even a year – to get back to square one. So taking this unnecessary risk is just foolish.

By having copies of data, companies can ensure they do not need to start over or run around looking for a replacement when catastrophe strikes. The best companies believe they are the best but also prepare for the worst and that’s exactly what backing up is.

Fortunately, backing up data is becoming more affordable and more convenient in the current technological client. Online backups have become standard and storing information in the ‘cloud’ rather than on a physical device is just another reason to put this in regular risk management practice. It’s the prudent choice. And it’s now easier than ever.