If you only have 500GB that is small. Several users already posted they have 4TB drives. I have the fastest available broadband in my area, Comcast Xtreme 105, which has an upload rate of about 20 megabits/sec. At that rate it would take 55 hours to upload 500GB.
However Comcast has a 300GB per month data cap so it would take parts of two months.
For 4TB upload would take 18.5 days if there was no data cap. With the data cap it it would take over a year. Likewise a full restore would take over a year.
Even if you could upload everything you must evaluate how long a full recovery would take, vs a locally attached drive. If it takes several days you could drive somewhere, retrieve an off-site backup and load it much faster.
I'm not saying cloud backup has no purpose but you must evaluate the real time required to backup, to do a full restore, the business cost of this time and whether any ISP data caps are in effect.