I've been given the chance to play with the RTM of Windows Home Server 2011 OS. At first my focus was on the home environment, how a 64-bit PC with this server OS would help a home of several systems and users to function a bit better. But after working with it for a few weeks, I have come to appreciate that it has all that a small business would need as well.
Consider this: Do you have 10 or fewer users? Do you have a need for an identity management system like Active Directory? (If you are not using Active Directory already, the answer is probably no.) Do you currently use hosted email or other hosted services, such as Microsoft Business Productivity Online Suite (BPOS) or Google Apps? Do you have a need -- perhaps one you've been neglecting -- to monitor and back up your desktop systems? If you answer no to the Active Directory question and yes to the other three, consider getting Windows Home Server 2011.
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On the surface, an x64 PC running the 64-bit-only Windows Home Server looks like a NAS (network-attached storage) device. The box I'm working with has two 1.5TB disks; the first disk is set up for storage, and the second one backs up the first disk. That amount of storage is plenty for storing data for all sorts of small businesses, such as digital photographers or videographers, doctors' and dentists' offices with high-res imagery, law firms, online-only software development shops, and architectural firms.