There are MANY online backup solutions on the market, with one of the newest being SpareBackup from Newport International Group, Inc.
Another solution is from Backupmyinfo.com and many solutions are combinations of hardware and online backup for even more security.
The differences in many of these solutions are not clear but all let you select files for backup, often set times, push them to an online backup location and in the event of an emergency retrieve them!
If you backup to a physical media like CD or tape you must ensure that you take the media off-site. Online backup is smooth and easy and ensures that your data is NOT in your business in the event something happens to your business location.
HP is reselling SpareBackup services as well.