According to a recent survey, only 28% of small-business owners completely understand the concept of “cloud” computing, while 27% admit they don’t understand it well or at all.1–2
For business purposes, the “cloud” refers to the delivery of on-demand computing resources over the Internet. Instead of buying, installing, and maintaining hardware, software, and servers, companies may be able to utilize a service provider’s cloud technology tools more simply and at a lower cost.
Small-business owners with limited technology budgets may find that handling at least some of their computer processes in the cloud could save them time and money. However, the costs, benefits, potential risks, and contractual obligations should be weighed carefully before committing to cloud services.
Cloud-Based Options
Three types of cloud-based services are available to businesses. Software as a Service (Saas) is when a business rents or borrows online software. Platform as a Service (PaaS) allows companies to build and deliver custom applications for their own commercial purposes. Lastly, Infrastructure as a Service (IaaS) involves the utilization of servers, networking, storage, data centers, and other computing capabilities on a pay-per-use basis.
Pros and Cons
- Using cloud services allows businesses to scale IT infrastructure up or down quickly to help meet business demands and facilitate growth.
- Cloud applications can make it easier and less expensive for small businesses to keep their technological capabilities up-to-date and take advantage of cutting-edge features.
- Owners and employees can access company files using any device from any location with an Internet connection.
- For disaster planning and business continuation purposes, companies can choose to back up some or all of their data operations in the cloud instead of paying for off-site hardware and storage.
Of course, there are also a few pitfalls to consider. Users must have access to a speedy and reliable Internet connection. As of yet, universal standards for cloud computing have not been established, and some businesses may have intellectual property and/or data security concerns.3
1) eWeek.com, March 22, 2013
2–3) PCMag.com, June 4, 2013, and March 13, 2013
INVESTING RISK DISCLOSURE
Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money. Before investing, consider the funds’ investment objectives, risks, charges, and expenses. Contact Mahoney Asset Management for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
IMPORTANT CONSUMER INFORMATION
This web site has been prepared solely for informational purposes. It is not an offer to buy or sell any security; nor is it a solicitation of an offer to buy or sell any security.This site and the opinions and information therein are based on sources which we believe to be dependable, but we can not guarantee the accuracy of such information.
Representatives of a broker-dealer or investment adviser may only conduct business in a state if the representatives and the broker-dealer or investment adviser they represent: (a) satisfy the qualification requirements of, and are approved to do business by, the state; or (b) are excluded or exempted from the state’s licenser requirements.
An investor may obtain information concerning a broker-dealer, an investment advisor, or a representative of a broker-dealer or an investment advisor, including their licenser status and disciplinary history, by contacting the investor’s state securities law administrator.
SECURITIES: ARE NOT FDIC-INSURED/ARE NOT BANK-GUARANTEED/MAY LOSE VALUE
This information is intended for use only by residents of CA, CT, DC, FL,, MA, MD, MN, NC, NJ, NY, OH, PA, and VA. Securities-related services may not be provided to individuals residing in any state not listed above.
The financial calculator results shown represent analysis and estimates based on the assumptions you have provided, but they do not reflect all relevant elements of your personal situation. The actual effects of your financial decisions may vary significantly from these estimates–so these estimates should not be regarded as predictions, advice, or recommendations. Mahoney Asset Managment does not provide legal or tax advice. Be sure to consult with your own tax and legal advisors before taking any action that would have tax consequences.
Securities offered through
Newbridge Securities Corporation,
member FINRA / SIPC
Investment Advisory Services offered through
Newbridge Financial Services Group Inc.,
an SEC Registered Investment Adviser.
Office of Supervisory Jurisdiction
1200 North Federal Highway, Suite 400
Boca Raton, FL 33432
Toll-Free: 877-447-9625
Phone: 954-334-3450
Fax: 954-489-2390
