Using the cloud means storing and accessing computer programs and your company’s data over the internet, instead of on a computer’s hard drive. If you’re deciding whether the cloud is right for your business, check out these four ways the cloud can help your small business.

1. Protect your business from data loss

Natural disasters or cyber-attacks can cause data loss, and 60% of small businesses will shut down within six months of data loss. By using the cloud, you can protect your company and have some peace of mind.

When you use the cloud, your information won’t be affected if a natural disaster hits your store or offices. Read also: 10 Tips for Creating a Disaster Preparedness Plan for Your Small Business

Cloud service providers can protect your information in the event of a cyber-attack. They’re proactively monitoring for attacks and fixing security issues as fast as possible, instead of retroactively responding to attacks.

2. Save money

With the cloud, you can plan for business growth without a significant upfront investment. The cloud is scalable, so you can pay for the storage you need now, instead of the space you think you’ll need in a year. Then, when you do need more storage, you can easily add more.

3. Compete with larger companies

Many software companies now offer their programs through the cloud, for a substantially lower price than installing a local version of the program. Because of this, you can compete with larger companies by using the same technology they use.

4. Access your data anywhere, anytime

Using the cloud enables you to access your company’s information anywhere, anytime. You and your employees will no longer be chained to your office and will have the flexibility to work from home or hire remote employees. Learn more about hiring and managing remote staff members.

You can also encourage collaboration, even if your employees are working in a different location. Because all your data is online, your employees can securely share information with each other, no matter where they are