The small business landscape is constantly transforming alongside technology developments.

By 2020, more than 78 percent of U.S. small businesses will have fully adopted cloud computing into their business practices. Many nascent and fast-growing companies are quickly beginning to realize that a cloud computing-centric solution helps in many, many ways: cutting costs, freeing up capital, and providing flexibility to meet ever-evolving operational needs. With new and emerging opportunities, businesses are always looking for ways to avoid roadblocks, like high costs of raw materials, maintaining inventory and looming global competition.

Much like the way the Dotcom explosion revolutionized the ease with which entrepreneurs established their businesses; cloud-computing looks to transform how these businesses can run in an efficient, safe, and cost-effective way. However, nearly half of the small businesses in the U.S. still don’t leverage the capabilities of cloud storage. Those that do, boast the benefits of enhanced collaboration, improved accessibility, and a quick and cost-effective way to backup files.

More than anything else, there’s a knowledge gap here: people fear what they do not understand. But really, we’ve known for a while that there’s nothing to fear. It’s 2016 and there are still various misconceptions about cloud computing technology. Businesses that let fear and misinformation get the better of them, risk falling behind in the race. Here are three big reasons why moving to the cloud in 2016 shouldn’t just be an option, but a requirement for any successful business:

1. Security

This is a big one. Security is an important consideration for any business looking to move to the cloud today. However, many people seem to take the metaphor perhaps a bit too seriously – implying that their data would simply be floating in cyber space, available for anyone to grab. This couldn’t be further from the truth. In fact, 85 percent of current small business Cloud users say they are confident in their provider’s’ capability to ensure a secure environment.

For many small businesses, maintaining and protecting data often slips lower in the list of priorities. Many businesses focus their energies in accomplishing their primary business goals.

For cloud storage providers, keeping data secure is part of the job description. This results in a far higher level of security – from better tech experts, to enhanced encryption protocols, to surveillance cameras and biometric locks. Many people don’t understand that security entails more than simply protection from hacking. If a business were still using onsite servers, it would only take a single mishap to set all the progress back. Cloud computing is truly built for the business of today, where restoration and maintenance of data is never compromised.

2. Mobility

Technology is also changing how we work. Communication tools are radically transforming the definition of a traditional office – and cloud technology is at the forefront of this shift.

In the cloud, businesses can truly tap into the power of mobility. All you need is an Internet connection and you’re set. Unlike with on-site storage and computing options, you can easily access, share, and work on files on the go. By leveraging the power of the cloud – where all your information is up-to-date and in arm’s reach – small businesses will have far fewer infrastructure barriers in competing with larger companies.

2. Efficiency

If there is anything that will drive more businesses towards the cloud, it’s efficiency. According to a recent report, cloud applications deliver 1.7 times more return on investment compared to on-premises applications.

Companies that use the cloud spend 40 percent less on consulting and 25 percent less on support personnel. Cloud deployments are also much faster and don’t need as much of an investment in upgrading infrastructure. By freeing up expenses that would otherwise funnel into implementing and maintaining on-premises alternatives, businesses have much more capital available to support other growth activities and initiatives.

As we’re slowly ushered into a new era of doing business, those that embrace the cloud only stand to benefit from everything it has to offer. As small businesses continue to become increasingly complex institutions, migrating to the cloud will provide an economical, efficient, and secure way of avoiding obstacles and give rise to a much smoother and more seamless way of doing business.