We had just witnessed another business client lose all of their data. They thought their data was safe while being stored on a 6-year-old external hard drive. When they came into the office one day, all they could hear was clicking noises coming from their external hard drive.
We sent their hard drive out to a data recovery company. After a week or two, the quote to get their data back was over $2000. This small mom-and-pop business client could not afford to recover their data. Because they lost all of their data, they went out of business a few months later.