How Much Could a Single Hour of Downtime Cost Your Canadian Business — and How to Prevent It?

Any business, regardless of size and industry, can experience downtime at some point. However, in the case of SMBs, the cost of downtime, Canada, incurs not just significant financial loss but also reputation damage. Whatever the cause may be, such as due to a cyber-attack, hardware breakdown, or natural disaster, this does not simply put a pause on operations but endangers the very existence and longevity of the business. As such, business owners and executives are asking: How much could a single hour of downtime cost your Canadian business — and how to prevent it? 

How Much Could a Single Hour of Downtime Cost Your Canadian Business — and How to Prevent It?

We at EB Solution, a leading disaster recovery service provider Canada, have witnessed firsthand how this happens to a business. That is why we have dedicated time, knowledge, and effort to come up with a business continuity strategy Canada. One that is effective and customizable to fit the needs of individual business. So, is your company ready to face this challenge when it occurs? 

Understanding the True Cost of Downtime, Canada 

In Canada, the cost of downtime is dependent on a range of factors. This includes the size of a company, industry, and the dependence on technology. Nevertheless, a recent study showed that for a small to mid-sized company, the cost of downtime, Canada may be anywhere around $25,500 dollars within one hour of disruption. This is from compounded expenses that you may not even realize such as: 

• Wasted time – Employees end up wasting time as systems restore. 

• Lost income – The customers are not able to use your services and pay. 

• Image loss – Customers will lose trust in your dependability. 

• Recovery costs – Emergency IT assistance and overtime charge build-up. 

This is why it is important for business owners to ask- How much could a single hour of downtime cost your Canadian business — and how to prevent it? Disaster recovery planning SMB is not a choice in today’s technology-dependent business landscape; it is a necessity. 

Disaster Recovery Planning SMB: Your Financial Safety Net 

A good business continuity strategy Canada includes a recovery plan is used to secure your information and operations. This is in the event of an unforeseen incident and therefore provides steps on how to recover systems as quickly as possible to reduce losses. In disaster recovery planning SMB, the goal is simple. It is to keep your business running no matter what happens. This should include:  

• Data Backup Frequency Best Practice: Backups should be automatic and regular. Backups are usually done daily, although critical systems might need hourly updates. 

• Recovery Time Objective (RTO): How quickly can you recover? 

• Recovery Point Objective (RPO): How much data loss can your business handle? 

At EB Solution, a disaster recovery service provider Canada, we assist SMBs in developing a tailored disaster recovery plan. This is carefully adapted to suit their operations, budget, and compliance needs. 

More than Just a Backup: Business Continuity Strategy Canada 

It is believed that backups are sufficient. However, with a business continuity plan, the coverage is broader. This is because it ensures that all elements of your organization remain operational during disasters. A complete continuity plan contains communication systems to maintain employee and client information, and a backup process of essential activities. Additionally, it has testing schedules to check that systems can recover in a short time. Moreover, there is also collaboration with a disaster recovery service provider, Canada to seek professional help. This combination of data protection and business continuity helps companies achieve resilience, which all Canadian businesses require in today’s unpredictable technology-dependent business landscape. 

Data Backup Frequency Best Practice: How Often Should Your Data Be Backed Up? 

There are many factors that can lead to a technological downtime. This may be from an innocent human error, power outage from natural calamities or social unrest, or even cybersecurity breach like phishing and ransomware. Hence, backing up your system and data is imperative. Although there is no standard regarding the time when backups should be done, the logic is simple: the more your data is important, the more frequently it has to be backed up. For example, core business data should be backed up at least once per 24 hours. Transaction or customer data should be saved several times a day while system configurations should be done at the end of each significant change. This process can be fully automated using modern solutions that do not slow down any operations, as your data is secure at all times. 

Preventing Downtime Through Preparedness with EB Solution 

So, when asking the question: How much could a single hour of downtime cost your Canadian business — and how to prevent it? The answer is simple. As prevention is the most appropriate method of reducing the cost of downtime, system checks, staff training, and active monitoring can help with this. Here at EB Solution, a leading disaster recovery service provider Canada, we know that every SMB must focus on: 

• Conduct periodic risk analyses – Determine possible areas of weakness.
• Maintain disaster recovery plans – Have them up to date and tested.
• Automate backup and replication – Lessen human error.
• Partner with experts – Work with a trusted recovery provider.

Here at EB Solution, we develop and maintain disaster recovery, which will keep your systems safe and quick to recover. Our team provides real-time data security and off-site backup, back-up verification and testing regularly, and business continuity plans that fit your objectives. We are conscious that time is critical in a disruption. This is why we are working on quick and dependable recovery- so you do not miss an hour of service to your customers. Start today by having us evaluate your risks and resilience with your current recovery plan. 

Call today!