The failure is recognisable. Somebody needs the logo for a sign and the only version findable is a low resolution image pulled from the website. A photograph exists in four slightly different crops and nobody knows which is current. A contract is in an email thread rather than anywhere retrievable. Each of these produces the same outcome, which is somebody recreating something that already existed.
A workable structure for a small business is unglamorous. One cloud location, not several. Top level folders by type: brand, photography, documents, client work. Inside brand, subfolders by format, with the source vector files kept separately from the exports made from them. File names that carry information rather than a camera number, using a consistent pattern with the date first so sorting works. And one folder marked final or current, so there is never ambiguity about which version is live.
Two rules prevent most of the mess. Never store the only copy of anything in a folder shared by somebody outside the business, because access changes when relationships do. And when a contractor delivers work, file it immediately rather than leaving it in the email or the transfer link, because those expire and the delivery is often the only time you will be given the source files.
Add a short document recording the things that are not files: your exact colour values, the fonts used, where the domain is registered, and which accounts hold what. That note is the piece people wish they had, and it takes ten minutes to write while everything is still fresh.
Decide who owns the storage account rather than letting it default to whoever set it up, because this is where small businesses lose access to their own material. The account should be in the business name with you as administrator, and any contractor should have access granted to specific folders rather than owning the space. Work delivered into a folder somebody else controls is work you may lose when that relationship ends.
Set a retention habit alongside the structure, because storage grows without limit and the cost of finding something rises with it. Archive completed project folders out of the active area rather than deleting them, keep the source files, and discard the intermediate exports that can be regenerated. An archive that is organised and separate is considerably more useful than an active area containing four years of everything.