Depends on what it is you are backing up. If they are company records they do not need to be treated as safely as Medical Records but that doesn't mean to imply that you can be sloppy either.
I personally prefer tape but that's me and mainly because of the people that I work for it's necessary. But there are numerous other Backup solutions available depending on your individual needs ranging from backing up across a WAN to several different locations in one country to world wide.
If you don't have this option you need some safe Off Site Storage facility that is both Fire and water proof in the case of a major catastrophic event occurring.
But again it all depends on the business as if this is a small business a major catastrophe may well render it dead if all the people working there are killed or severely injured at the same time or by the same event. After that it's only the Tax People who would be interested and really they wouldn't be considered as overly important by those left behind if there where actually any survivors. So having an off Site Secure Backup facility in a situation like that is needless.
If you have a medium to large business but still basically a local enterprise then you really need to think about some form of Secure Off Site Storage that is both accessible and secure preferably a long way away but close enough to easily get your data back when required but far enough away not to be affected by some local Cataclysmic event like an Earthquake or something similar.
Really as far as I'm concerned this is all Academic as unless you know what it is you are supposed to be protecting and who it is being protected for everything is just best guess and that's all that can be expected.
Where do you draw the line here for securing your data and being able to rebuild the business?
After a Nuclear attack or a Dam failure that washes away everything in it's path or what?
Do you want to protect this data from a Accident at a facility the deals in fissionable materials that will contaminate a wide ares for hundreds of thousands of years?
While it can be done is it worth the effort and cost?
Col