The cost of downtime for small business

Downtime is not a question of it happens, but when it happens.

Is your business a downtime statistic?

  • 24% of companies said they experienced a full data disaster?
  • 44% of small businesses have been a victim of a cyber attack?
  • Do average midsize companies have 16 to 20 hours of network, system, or application downtime per year?

Data loss means downtime, and downtime will impact your bottom line.

To be unprepared is not worth the risk. Many compliance regulations, like HIPAA, require a data backup and data recovery plan. 70% of small businesses that experience a major data loss go out of business within a year. The average SMB can expect to lose about $100,000 worth of revenue in unexpected downtime annually. The average downtime cost is estimated at $8,000 per hour. Considering that average downtime lasts 7 hours, that number goes over $60,000 of loss, not to mention the loss of employee productivity, morale, and possibly your reputation.

People and Systems Costs

  • Lost sales revenue
  • Lost employee productivity
  • Lost communication – phones and emails
  • Halted internal processes – billing, intranet, and more
  • Missed deadlines
  • Employee overtime

Physical Damage Costs

  • Restoration of IT systems
  • Replacement of lost/disposed of materials
  • Cleanup costs

Reputation and Compliance Damage

  • Compliance violations
  • Contract penalties
  • Unhappy customers
  • IT and employee recovery costs

Protecting your data is protecting your business. You have business insurance to cover damages to your building and to protect your employees – why not business data? You may end up using your backup and disaster recovery solution before you’ll use your insurance.

No two businesses are the same. How much downtime can your business afford? Seconds, minutes, days, weeks?

The good news – a Business Continuity plan

As an IT provider, we can manage an entire Business Continuity and Disaster Recovery (BC/DR) process. With our Data Backup, Recovery, and Intelligent Business Continuity Services we can help your business to:

  1. Protect your data
  2. Keep your business up and running
  3. Minimize downtime
  4. Protect your organization from a potential disaster fallout
  5. Have peace of mind

 

We have been providing IT Support Services in New Jersey since 1996. powersolution.com is honored to be the recipient of various IT industry awards. We are especially proud to be recognized as one of the Top 100 companies in Managed Security and a Top 500 Managed IT Services Provider – 4 years in the row – by CRN® magazine, a brand of The Channel Company, and in a 250 Pioneer category of 2020.

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