With more and more data being stored with online “cloud” providers, there are some risks to be aware of. First, you are still responsible for backups. Most cloud provider contracts explicitly state they are not responsible if your data gets lost or deleted. So, doing your own backups is still extremely important.
Secondly, if you are relying on a cloud provider for a mission critical service, then you should consider having a secondary internet connection to provide internet access if your main connection goes down. Usually these secondary services are charged a small amount per month, plus whatever data you use when the need arises.