58 Percent of Small Businesses Not Prepared for Data Loss (INFOGRAPHIC)

58 Percent of Small Businesses Are Not Prepared for Data Loss (INFOGRAPHIC)

Small businesses know they can’t afford to lose data. Yet more than half (58 percent) of them are not prepared for data loss.

Worse still, 60 percent of small businesses that lose data will shut down within six months. That’s according to new information gathered by Washington, DC-based research firm Clutch.

Current Cloud Backup Habits of Small Businesses

On a positive note, businesses that are backing up their data seem to be doing something right. Of small businesses that currently use cloud backup, 84 percent use both online and onsite cloud backups.

Further, 68 percent test their backup systems weekly or monthly.

In the future, more businesses are expected to use cloud to back up data. According to statistics, 78 percent of small businesses will back up their data on the cloud by 2020.

Preparing For Data Loss

When it comes to your company’s data, it’s always better to be safe than sorry. Otherwise you run the risk of suffering huge losses.

An important step is to have an IT disaster recovery plan in place. It’s a process put in place for responding to unforeseen events affecting your data with a documented and structured approach and a clear set of instructions.

You must also analyze your existing digital setup, including hardware, software, data, connectivity, network and more. A thorough analysis will make it easier for you to identify loopholes that may compromise your data security.

Moreover, it’s essential to train employees to recover your data. If you expect to spend more time on recovering lost data, you must have a plan for your customers to get in touch with you.

Check out the infographic below for more information.

58 Percent of Small Businesses Are Not Prepared for Data Loss (INFOGRAPHIC)

Image: Clutch

Shubhomita Bose Shubhomita Bose is a Staff Writer for Small Business Trends. She covers key studies and surveys about the small business market, along with general small business news. She draws on 8 years of experience in copywriting, marketing and communications, having worked extensively on creating content for small and medium sized enterprises.