Serious power outages are a part of modern life. In fact, during the most recent five-year period, these outages increased by 58%.
There are lots of reasons:
- Increasing demands on an aging power grid
- Severe weather
- Human error by utility employees
- An errant backhoe on a construction project
- Wildlife in a nearby transformer
It doesn’t take much. And the cost is enormous: tens of billions of dollars in lost revenue by commercial businesses each year, with a median loss for small businesses of $12,500 per day.
Out-of-pocket losses are bad enough. But there are other costs that are harder to measure:
- Transaction data that was not backed up
- Employees who are unable to work
- Perishable goods that quickly turn to garbage and must end up in the dumpster
- Compromised security systems
- Loss of customers to competition
Almost every small business will suffer a potentially costly power outage some day. But you can do something to prevent those losses now.