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Without knowing the nature of your business and available IT skillset, it is difficult to give you an optimal answer. As a provider of cloud services, I can tell you that moving to cloud isn't always the best solution for every business though the Internet is always buzzing about the fabled "Cloud."
Look at it this way: in the long run, you will pay less by investing upfront in hardware and an engineer to setup your own collocated servers at a data center or onsite at your business. Aftert this point, maintaining hardware and paying a tech will cost a fraction compared to industry standard hosting fees.
A dedicated hosting service will cost less money upfront. The trick is to know what you're getting as well as an SLA written such that, when your contract expires, you receive all system images and data.
I hope this helps!